What is an Accounting Degree?
Amongst all other professions, accounting is one of the oldest in history and is considered to be among the 21st century’s most rapidly growing industries. There is a large demand for accounting jobs all over the world. It is a career that can be obtained with an accounting degree.
Accounting qualifications are on the top of the most innovative industries, in terms of technological advances it incorporates, and they range from cloud computing to blockchain technology. Contrary to common opinion, accountancy is not only about counting money, but mainly about managing it effectively.
Apart from the accounting knowledge, accounting courses focus on the subjects of different areas, such as information technology, statistics, law, business and economics.
While pursuing the accountancy qualification, accounting students will be provided with assessment methods. These assessment methods allow them to obtain advanced theoretical and practical knowledge of accounting and finance. With that, they will improve their calculation abilities and techniques and master IT skills that are used in the professional accountancy practice with the use of specialised accounting software and gain a vast understanding of the accounting, public sectors and finance within an international context.
Types of Accounting Degree
An accounting degree is all about learning how to measure, process, analyse and communicate financial information about an organisation to its investors, creditors, management, regulators, and the general public in order to facilitate improvements and adherence to established rules and guidelines.
In case of accountancy as education, just like other streams, accounting degrees come in many different forms, with undergraduate degree titles such as Bachelors in Accounting or Bachelor of Accountancy to Master-level titles. These titles may differ in certain countries as at some places they are notified as Bachelor of Arts (BA) in Accountancy, or as a Bachelor of Science (BSc) in Accountancy, or Bachelor of Accounting Science (BAccSci) and Baccalaureus Computations (BCompt).
The content of study subjects often differs from one university to another. At some places accounting courses are offered as an undergraduate degree with a sole focus on accounting, whereas in others they are provided as joint-degree that format alongside other subjects. That includes finance, economics or business management.
Most of accounting degrees are recognised by appropriate national level of professional accountant bodies, which include UK based Association of Chartered and Certified Accountant, Institute of Financial Accountants and Chartered Institute of Management Accountants. Students are guided towards the degree so that they can apply to the relevant body for exemptions from certain exams once they start working towards charted accountant status.
Entry Requirement for Accounting Degree programmes
Obtaining higher education is the first step to proceed with an undergraduate degree. Once it is done, if a student wants to proceed with an accounting career, they need to have a strong mathematical background and taking a course in statistic or business will be considered an advantage. Some universities have the option to switch between accountancy programmes or any other track after the completion of their first year. It is not compulsory though, it all depends upon the student’s choice concerning their interest and abilities.
What an Accounting Undergraduate Degree Can Get You
The Undergraduate Accounting programmes in the UK take usually three years to complete. During the first year students are introduced to the key topics of accountancy, which cover accounting, finance, and business. Later on, they can choose to specialise in particular accounting areas of their interest, depending upon the modules available in the institution.
The classroom studies involve individual and group exercises, case studies, lectures, IT workshops and seminars with accounting software. Students will also be required to work on a major research project with other assessment methods, such as reports, group presentations and portfolios.
The mode of studies differs from one institution to another. During the course, most of the institutions provide well-experienced in the accounting and finance sectors professionals staff. Some institutions allow their students to obtain real-time work experience by spending a year on an industrial placement.
The whole picture behind an accounting degree can get you to develop subject-based skills in the areas that include the theories and practices of accountancy. It gives you a broad vision to tackle the financial issues by making a wise decision with the understanding of commerce, finance, and industry. To become a qualified accountant, it is a must to have a professional accountancy qualification.
Accountancy graduates will always be in demand by all businesses, across the finance industry. And, compared to other places, London is usually considered to be very popular for accountancy graduates to get into their first job.