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Finance vs Accounting

A photo of Anonymous Anonymous
Hey guys.

Im sure many of you are wondering the same thing, but what is the difference between finance and accounting?

1) Which field pays more?
2) Which provide more opportunity?
3) Which is easier to study?
4) Which is more interesting, funner (not a word), exciting?

Any additional info will help
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10 replies
 
A photo of Serendipity Serendipity
1. Finance
2. Finance
3. Depends
4. Finance

Slightly biased, but I know a CA, he hates his job.
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A photo of IBDiplomaStudent IBDiplomaStudent
I agree with Serendipity on the Finance part.

However, I do know a couple CA's who have done extremely well and enjoy there jobs. The Credit Risk Management department in a bank I know well has 5 management positions (VP and up) and all 5 guys are Canadian CA's with the SVP and head of the department also having a CFA...none of them really do 'pure accounting' anymore but they all got there CA in order to get into the business
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A photo of IanSharer IanSharer

@Serendipity wrote
1. Finance
2. Finance
3. Depends
4. Finance

Slightly biased, but I know a CA, he hates his job.



Pretty much this. If you have a strong drive and love the high risk high reward environment, finance is for you. If you'd rather a simpler and steady career, accounting is also good. That said, most CA's don't necessarily do "accounting" and you can't really compare them.
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A photo of thecookiemonster thecookiemonster

@IanSharer wrote

@Serendipity wrote
1. Finance
2. Finance
3. Depends
4. Finance

Slightly biased, but I know a CA, he hates his job.



Pretty much this. If you have a strong drive and love the high risk high reward environment, finance is for you. If you'd rather a simpler and steady career, accounting is also good. That said, most CA's don't necessarily do "accounting" and you can't really compare them.


You make it sound like accountants don't need any drive. If you have drive as an accountant you can make huge bucks.

And you make it seem like anyone going into finance with some drive will strike it rich. Hardly true, plus you have to factor in all of the personal sacrifices you have to make in the finance world (moreso than in accounting-related fields)
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A photo of Jack555 Jack555
read this, posted by people who are not in highschool (university grads or are already working)

http://forums.whirlpool.net.au/archive/1217052
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A photo of IanSharer IanSharer

@thecookiemonster wrote
You make it sound like accountants don't need any drive. If you have drive as an accountant you can make huge bucks.

And you make it seem like anyone going into finance with some drive will strike it rich. Hardly true, plus you have to factor in all of the personal sacrifices you have to make in the finance world (moreso than in accounting-related fields)



If you want to do "accounting" for the rest of your career, then you don't need much drive (and I'm excluding getting new clients as drive), but if you plan on moving up positions then of course you need a strong ambition. Also, when did I say anyone with some drive will strike it rich in finance? If you have a strong passion and the right skills (and perhaps a bit of luck), finance will definitely be rewarding. That said, finance has a lower floor but a much higher ceiling salary wise as opposed to accounting.
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A photo of athrunxo athrunxo
I think it depends on which field of accounting. A simple book-keeping job versus a Auditing job is very different. But I agree with the Serendipity in general.
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A photo of g93 g93

@IanSharer wrote

@thecookiemonster wrote
You make it sound like accountants don't need any drive. If you have drive as an accountant you can make huge bucks.

And you make it seem like anyone going into finance with some drive will strike it rich. Hardly true, plus you have to factor in all of the personal sacrifices you have to make in the finance world (moreso than in accounting-related fields)



If you want to do "accounting" for the rest of your career, then you don't need much drive (and I'm excluding getting new clients as drive), but if you plan on moving up positions then of course you need a strong ambition. Also, when did I say anyone with some drive will strike it rich in finance? If you have a strong passion and the right skills (and perhaps a bit of luck), finance will definitely be rewarding. That said, finance has a lower floor but a much higher ceiling salary wise as opposed to accounting.


Do you honestly think you can get a decent job without drive? You have to work hard to get anywhere in life.

You agreed with Serendipity, who said Finance for everything without any hesitation.

Everyone here seems to expect to waltz on over to Wall Street and start pulling six and seven figures, as long as they are driven.

And there is no "ceiling" on salary for someone in finance or accounting.
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A photo of prefontaine prefontaine
1. Finance offers very lucrative (but hard to land) positions. The tradeoff my be your personal time and outside interests (assuming you don't have a family).

Accounting forces you to spend a few years making crap (~50k) money. Once you get your designation though you can do VERY well and even work in finance related jobs. Its also not hard to find a job right out of university.

Don't want to be judgemental, but this really should not have been your first question. Theres more important things in life than money...

2. If you are in the top 10% of your class in a top tier school (I'll let you decide what that means), finance would probably provide a ton of opportunities.

If you are a good student at a midlevel school, going the accounting route would make more sense (to get a job). I think the opportunities are great in accounting but only after you get your designation.

3. Personally, I would say accounting. This depends on the person though.

4. I.M.O. finance is. If you are edging to jump right into the world of business and don't want to wait a few more years (and can handle the huge risks), I would say finance is pretty sweet. Accounting can give you some awesome jobs too, but it will certainly take longer to get there.

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A photo of pjmas pjmas
Hey guys, I am really really worried. I want to get a better idea of my chances at being accepted to either one of these programs. My marks just meet the requirements of queens commerce and a bit over Waterloo's PA program (but I have heard from various people that the PA program is very competitive and only students with low 90's gain acceptance).
My extra curriculars are:
-environmental club member
-community challenge member
-soccer club member
-creator of Business Club
-alterserver from 2005 to present
-camp enterprise participant in Trent U
-World Youth Day Canadian representative '08
-lifeguard trainee (finished bronze medallion/cross)
-Buddies and Mentors leader (leading younger grades into doing activities relevant to team-building skills)
-Music Night guitar player for 3 consecutive years

Please let me know of your thoughts and your points!! Thanks in advance!
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