What are Accounting and Finance?
Accounting and finance are related to the concepts of money, business and management, with a critical emphasis on professional careers in this sector. The terms “Accounting” and “Finance” are not necessarily synonymous with one another. “Accounting” refers to an array of information analysis, for several different sides of a business. On the other hand, “finance” is mainly concerned with the monetary funds of a particular company.
Pursuing a degree in Accounting and Finance is suitable not only for those who love numbers, but also who wish to apply these skills to the perspective of the business, and thus enhance one’s cognizance about everything that comes with it, be it business law or management or economics. One of the most noticeable benefits to Accounting and Finance is the potential for joint honours and studying abroad to develop their knowledge and explore more of this field.
If you are ambitious, determined to get ahead in the field of accounting and finance, pursuing a degree in Accounting and Finance is right for you. Also, if you have a positive attitude, lots of drive and a strong work ethic, this can be the right career path for you. During the Accounting and Finance undergraduate course you will grasp your subject knowledge and gain the professional expertise and key skills to prosper as an expert in your field. In each academic year of your degree, you will study certain modules, which will let you concentrate more intensely on accounting and finance. Additionally, it will widen your studies into core areas including corporate social responsibility, business forecasting, financial accounting, financial management, economics and taxation. In today’s job market, the Accounting and Finance degree is both highly selective and highly demanding.
What is the Future Scope of Finance and Accounting Firm?
Knowledge of accounting and finance is crucial for the simple reason— it plays a vital role at the core of every business and organization. Whether in public or private sectors, it is impossible to work without operational finances. Any company that depends on money to survive is reliant on the services of accountancy professionals. A qualified accountant takes charge of all the critical financial matters, including debts, credits, profit, revenue analysis, loss management, risk management and all other business expenses. They also ensure the business meets all essential tax obligations, and helps to maximise income, minimising expenditure, and boosting profitability.
The strongest accountancy can have a significantly high positive impact on business performance, whereas poor accountancy can lead to prosecution, heavy losses or even the failure of a business. Nowadays, organizations of all shapes and sizes are inspecting like never before their financial activities. And that is why highly capable and qualified accountancy and financial professionals are in extremely high demand across every sector.
Accountancy has always been seen as a right, in-demand career choice and for good reasons. It requires initiative, extraordinary analytical skills, the capability to deal with sophisticated people and complex matters, and a strong work ethic. For all this, you can always expect ample scope for career progression and a handsome salary for those who work to the needed standard.
The Marketplace for Accounting Firm
The United Kingdom has many top business schools, universities and colleges. It also has a booming financial services sector that is the desire of the world, making it one of the top places for well-paid accounting and finance jobs. Although as a result of the global financial crisis, the past few years have been quite challenging. But in recent times, the UK, and especially London, is thriving, and this is the good news for those looking for accounting and finance jobs.
Countless Accounting and Finance Jobs & Opportunities
Today, accounting is one of the most cutting-edge, high-tech professions out there, making evolution in fields ranging from cloud computing to blockchain technology to Big Data analytics. Professional accountants are the ones who ensure that the finances of organizations, governments, corporations, and individuals are spent well. That means, as long as there are finance and money, accountants and financial managers will be required.
It might not sound like the most exciting job, but accountants are key players in keeping any business running. If you have a meticulous, mathematical mind, then pursuing an Accounting and Finance course can be a good choice for you.
Particular job duties depend on particular jobs, but there are a few skills that are pretty much essential across the board. Undoubtedly, a strong understanding of mathematics is required. At whatever level, every accountant should have a general perceptive of basic bookkeeping, along with a more sophisticated understanding of core areas like payroll, auditing, taxes and financial reporting. Even if you have worked all your way to the managerial level as an accountant, knowing lower-level, everyday work of accounting and finance will turn you into a better leader. Contemporary accounting is team-based and highly collaborative. While accountants do their fair-minded share of individual work, being capable of working well with others will be vital, especially in a business environment.
Since business, management, accounting and finance are so strictly liked, Accounting and Finance degree can be much more flexible and lucrative than most students understand. Besides the conventional bookkeeper or tax accountant, an accounting and finance degree can take students into the public sector as government officers; into fashion, music and sports; into research, policy-making and education; or all types of lucrative private practice.
According to recent surveys, the financial rewards are extensive. The average salary of a UK accountant ranges around £62,042.
The UK’s financial sector is one of the most exciting professional environments in the world, attracting thousands of applicants from all over the world. Looking for the right accounting or finance job can be daunting, especially with the sheer size of the market. Here are some ideas of the landscape before you put your foot into this field.
Vice President of Finance
The Vice President of Finance is a vital link between the highest executives and the management. They lead and coordinate company financial planning, budget management, and debt financing while reporting back to the upper levels.
Chief Financial Officer
The CFO is one of the highest levels of authority and responsibility an accountant can hope for. The highest level of excellence, expertise and experience along with a long-standing track record of results and leadership can help to be a CFO.
International Tax Manager
Today the global business is one of the fastest-growing specializations in business education, and all thanks to the Internet. The market has been global for a long time. So, an organization based in the US may produce products in Japan made from raw materials purchased in China and specialized parts made in Africa. The International Tax Manager should have a comprehensive understanding and knowledge of the international market and tax regulations, but of foreign cultures, rules, logistics and business practices.
Finance Director
Finance Director works more directly with employees and managers to develop plans. They have a lot of scope for developing their own best practices and procedures.
Senior Financial Analyst
Every industry, irrespective of the field, has senior financial analysts. Their key duties include managing a group of financial analysts, reviewing the finances of a company. Also, they advise on how an organization can improve its financial situation and lower the costs.
Cost Accountant Manager
Cost accounting focuses very narrowly on analysing the costs involved in manufacturing a product, and the costs it needs to be set to make a decent profit. Cost Accountant Managers need a wide-ranging understanding of all economic forces that analyse value and price, and strong analytical abilities.
Some other job roles are-
- Compliance Officer
- Accounting Software Developer
- Accounting Manager
- Accounting Professor
- Forensic Accountant
- Credit Analysis Manager
- Personal Financial Advisor
- Treasury Analyst
- Tax Accountant
- Auditor
- Budget Analyst
Accounting and Finance Degree at Mont Rose College
Here at Mont Rose College, we offer only the most superior quality professional Accountancy and Finance courses. Our degree programmes are well-planned and developed in conjunction with leading industry experts and academics, to guarantee outstanding content without exception.
Whether looking to start in a completely new direction or climb the career ladder with work experience, a top-notch learning opportunity could significantly improve your prospects. The course is accredited by the ACCA, ICAEW, CIPFA and CIMA. The CIMA (Chartered Institute of Management Accountants) based in the UK is the leading professional body of management accountants.
Mont Rose College Offers:
BSc Accounting and Finance
With matchless flexibility, this certified degree covers core areas of accounting and finance. It offers you the freedom to explore different traits of business that interest you through the available optional modules.
Top-up in Accounting and Finance
This course is uniquely designed to enable students to foster existing qualifications and experiences, converting them into a gratifying honours degree. You will develop practical skills and knowledge of business, adding up expertise in accounting and finance with flexible professional and managerial strategies.
HND in Business Accounting and Finance
In this course, you will learn different aspects (theory and practice) of accounting, finance, marketing, and management through many lectures, seminars and practice. This course leads to a degree based upon decent theoretical learning that seeks to develop skills in problem-solving, analysis, and application. This course provides you with an appreciation of financial planning and constraints.
Explore the world of the professional accountant and take your crucial first step toward an extraordinary new career. Take control of your future today with high-quality courses from Mont Rose College. The top-ranked accounting and finance degree course at MRC equips you with the essential knowledge and skills required to stand out in your accountancy or finance career.
Feel free to get in touch with us to know more about the course entry requirements, tuition fee, credits earned during an academic year and other details related to the course. Please note At Mont Rose College, we heartily welcome International students to become a part of our community.
