Accounting or Finance. Which is better over the other and why. What is the science of choosing between the best of the duo? People are often of the opinion that an accountant is a public tax professional however the reality is that most of the accountants today work in large corporates and businesses. In these profiles, accountants are required to do a lot more than just accounting. Their responsibilities may include financial planning, forecasting, analysis, putting internal controls and assist in decision making. These individuals in fact are the advisors who are in fact required to read the numbers and propose a corresponding business strategy. It is because of these added responsibilities that accounting today is gaining firm grounds and individuals are required to strengthen their academic degrees beyond basic accounting.
Listed below are facts which clearly indicate how a certified Malaysian accountant can overpower a financier:
- Where a financier will advise how money should be managed, an accountant is in fact the person who will ensure that every penny is accounted for. Accountant will track all shifting and manipulations that may have been done as a part of financing.
- Accountants can expand their work profile by completing certifications like business law, marketing, accounting ethics, business administration, fraud, cost management or taxation. This helps them gain grounds within corporates and in turn they partner extensively with financiers helping them making decisions on monetary movements.
- Accountants broadly work in public, management and government sectors. The individual in these sectors is required to check financial documentation for corporates, other government entities or trace and locate financial crimes and contract violations. An individual who may have completed CPA certification is highly paid by corporates as they qualify for a niche profile in market. A financier, on the other hand typically has expertise in investment products or does the ROI analysis for business or governments.
- Accountants have the flexibility of working from any part of geography. This particular flexibility is sometimes overlooked but the matter of fact is that it can actually add value to the profile. Accountancy helps one draw decent salary and the accountant can work from any city which may be a non-metro. The cost of living in non-metros is lower and this combined with the flexibility to travel across various states makes accountancy a better option. A financier, on the contrary is required to be based out of financial capital or hub at all times.