Top 5 Reasons You Should Study Accounting and Finance
Accounting is more than crunching numbers, its a satisfying and challenging job that requires strategic thinking. As an accountant, you examine the financial records and data of businesses and examine financial profit and losses. It is an essential role that is vital to the functioning of a business and there are several reasons to study accounting such as:
5) Always in Demand
The stability of certain jobs are dependent on market trends or affected by oversupply of graduates, some may even go away due to automation. However, being an accountant is one of the most stable jobs available, even in times of economic turmoil. In Malaysia, there is a high demand for skilled finance professionals with commercial skills that is projected to keep on growing.
Accountants are needed in a multitude of industries, wherever there is money, there is an accountant. The UK Commission for Employment and Skills named accountancy as one of 40 jobs for the future. It is also one of the Top 10 graduate careers with best prospects.
4) Large Range of Fields
As stated, almost every single industry requires an accountant. Thus, you will be able to work in a variety of fascinating fields, from mega corporations that deal with stocks and investments to movie producing studios.
In addition, there is more than just the standard accounting position. With a degree in accounting, your skills can be applied to many fascinating careers. For example, becoming a forensic account where you uncover financial crimes and misdeeds or an environmental accountant where you make sure companies profit while also protecting the environment.
3) High Financial Gains
Accountants deal with money daily but they also make a lot of money! Accountants make well above the average pay grade. According to PayScale.com, accountants in Malaysia make an average of RM 55,155 while a senior accountant has an average salary of RM 66,023 .
Additionally, the ‘Big Four’ accounting firms (Deloitte, Ernst & Young (EY), KPMG and PricewaterhouseCoopers (PwC)) employs a large amount of accountants worldwide are consistently listed among the top 100 companies to work in.
2) Work Abroad
By becoming a charted accountant through global associations such as the Association of Chartered Certified Accountants (ACCA), your qualifications will be recognized in more than 160 countries from the UK to China. Thus, you can choose to work overseas in a variety of different countries where you can gain a deeper understanding of the global economy along with an enriching experience of another culture, language and lifestyle.
Moreover, working at the global Big Four Accounting Firms which have networks of firms all across the world may also give you opportunities for international business trip.
1) Leadership Opportunities
Becoming an accountant gives you the skills and opportunities to climb the corporate ladder and ascend to a top executive positions. In fact, it is well known that accountancy is a great launching pad to become a CEO. One third of Australian CEOs have accounting and financial services backgrounds while 55% of all UK CEOs come from a finance background.
Accountancy gives you financial expertise, crucial knowledge on the ins and outs of businesses. It found that 30% of Fortune 500 CEOs spend the first few years of their careers developing a strong foundation in finance. However, it is important to note that financial savvy alone is not enough to launch you to the top. Companies are also looking for individuals with bold visions and innovative development strategies.
If you’re interested in gaining an accounting degree, why not go for the best? The University of Reading Malaysia’s Henley Business School is consistently ranked as one of the top 50 business schools by the Financial Times and The Economist. It offers a BSc Accounting & Finance that will unlock multiple pathways to success. For more courses offered by prestigious UK universities in Malaysia check out our university page.