Accounting and finance are the two rewarding and progressive industries that have some common concepts and theories. Obviously accounting and finance degrees reflect the differences between these two industries. However, these two terms will always be a source of confusion among students, but prior to choose a degree in accounting or finance make sure you clearly understand the differences between the two. Here are mentioned a few points that will help you clearly know the difference between online accounting and finance degrees.

  • Accounting is basically the organization and management of financial information while finance deals with the management of money.
  • Online finance degrees focus on the applications of money management whereas online accounting degrees cover financial transaction management and classification.
  • The curriculum of finance degrees involves math intensive while an online accounting degree typically has fewer elective options and more courses focus on major.
  • Online accounting degree programs are process-oriented programs on the other hand finance degrees concentrate on evaluative and analytical education. 
  • An online bachelor’s degree in finance generally requires 120 to 126 credits to complete. Whilst accounting degrees usually require 130 to 150 credit and is considered as the longest degree program to pursue.
  • Online finance degrees provide students with a solid understanding of economics including statistical, mathematical and management bases. On the other hand, online accounting degrees give students an in-depth knowledge of tax law, auditing and marketplace principles related to large corporate organizations.
  • Accountants usually maintain balance sheets and profit-and-loss statements to tax forms and financial disclosures. While, financiers use the documentation developed by an accountant to make decisions about financial leadership. They possess analytical skills as well as an understanding of the financial documents that underlie projections and analyses.
  • Online accounting degree includes a specific area of study which includes auditing, financial accounting, cost accounting and taxation. On the other hand, finance degrees deal with various investment portfolios available for companies and individuals as well as deal with the actual management of the company.
  • Online finance degrees are tailor-made to prepare students to work in banking and investing, real estate, financial planning, managerial consulting and government or corporate financial analysis. You can become a commercial or investment banker, financial services broker, financial manager, financial advisor financial analyst or planner and more.
  • Alternatively, online accounting degrees are designed to prepare graduates to work in large accounting corporations and they may find employment at the city, state or federal level. Accounting degree holders can work as certified public accountant (CPA), chief financial officer (CFO), accounting manager, auditor, accountant and more.

Hopefully, the above cited points help you understand the basic difference between the two.  Remember whichever you choose accounting or finance degree they are flourishing industries and a good choice for a career.

Author's Bio: 

I am a financial specialist with background in accounting, financial management and taxes. I live in NY and currently working as a freelance writer for Accounting Degree Talk.