What is the Difference Between Accounting and Finance?

A business administration degree can prepare you for a range of roles in a private or nonprofit setting, and all organizations and corporations need employees who have specialized skills in areas like finance and accounting. But what is the difference between these two focus areas? How do you decide if you want to pursue a finance degree or an accounting degree? While these two areas are similar, there are specific differences that will affect the roles you may seek after graduation.

Accounting vs. Finance: Which Career Is Right for You?

When choosing between accounting and finance, it’s imperative that you consider what type of role you wish to play within your organization. 

Accounting professionals are responsible for the financial health of a company, specifically as it pertains to compliance and regulatory issues. Corporate accountants consider how a company has spent its budget and ensure all expenditures are legal and that taxes are properly accounted for. 

Finance professionals are forward-looking, and they usually think about how the budget affects the long-term growth and health of the business in terms of investing. They may be responsible for resourcing and departmental budgets, working with corporate leadership to make sure the money the company spends is in line with corporate goals.

Earning Your Degree in Business Administration

While you may choose to earn a degree in accounting or a degree in finance, a BS in Business Administration program with a specialization in accounting or finance—such as the one offered online at Walden University—could give you a broader, more generalized degree that can be applied across a range of roles. A BS in Business Administration program focuses on business fundamentals and leadership skills, no matter which specialization you choose, which may make you more marketable as you seek your next career move.

The core coursework for Walden’s online BS in Business Administration program can help you build skills that can serve you across many professional positions in a business environment. These skills include strategic problem-solving, relationship-building, and emotional intelligence. Courses in the online business management degree program cover some of the most relevant topics affecting businesses today, including:

• Data Science
• Microeconomics
• Human resource management
• Business law
• Operations management

BS in Business Administration: Accounting and Finance Specializations

When you enroll in Walden’s online BS in Business Administration program, you can choose from a variety of concentrations, including both Finance and Accounting.

The concentration in Accounting explores financial law and regulation, preparing you with an understanding of bookkeeping and financial oversight. Students in the Accounting concentration complete the following courses:

• Financial Accounting
• Managerial Accounting: Introduction to Financial Planning and Analysis
• Intermediate Accounting I

The concentration in Finance helps you build the skills to work with leaders in your organization to drive decision-making and forecasting. As a student in the Finance concentration, you will complete the following courses:

• Corporate Finance
• Financial Intitutions and Markets
• International Finance

All online BS in Business Administration students also choose at least 15 elective courses from across Walden’s catalog of bachelor’s programs, which means you can continue to individualize your studies based on your interests and career goals.

Pursuing Your Bachelor’s in Business Administration Online at Walden

Whether you wish to ultimately choose a career in finance or accounting, a BS in Business Administration can give you the broad understanding you need to start or advance a career in a corporate, nonprofit, or government setting. Walden’s online bachelor’s programs feature flexible learning options and multiple start dates, allowing you to earn your degree on your schedule, no matter your other commitments.

For more than 50 years, Walden has specialized in creating educational opportunities for working adults. Not only does its BS in Business Administration program offer a range of career-focused concentrations, it also provides an Accelerate Into Master’s (AIM) option that gives undergraduate students the opportunity to earn credit toward a future Walden master’s degree program. 

Explore the online bachelor’s in business administration program at Walden and propel yourself to the next stage in your career. 

Walden University is an accredited institution offering a BS in Business Administration degree program online. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life.

Walden’s BS in Business Administration, Master of Business Administration (MBA), Doctor of Business Administration (DBA), and PhD in Management programs are accredited by the Accreditation Council for Business Schools and Programs (ACBSP).

Walden University is accredited by the Higher Learning Commission (www.hlcommission.org), an institutional accreditation agency recognized by the U.S. Department of Education.