Accounting Business Studies and Economics Career Fields (2023)

Accounting, economics, finance and risk management are all great careers that provide financial stability and opportunities for advancement.

All four are related to each other in some way, but they each work differently and have different requirements. In this article we will discuss each of these fields in detail so you can decide which one is right for you!

Accounting Business Studies and Economics Career Fields

1. Accounting

Accounting is the careful recording and processing of financial transactions, as well as the preparation of financial statements based on those transactions. Accounting involves measuring and summarizing business performance, including a corporation’s assets, liabilities, expenses, profits or losses from operations and investments to aid decision making.

Accounting is typically performed by accountants employed in various professional capacities such as auditing or tax accounting services (both public practice and private industry). Other organizations that require accounting services include not for profit organizations (e.g., charities) and government agencies at all levels.

Accounting often starts with the process of recording historical information about income flows & expenses which will then be summarized into financial statements such as balance sheets & income statements

2. Auditing

Auditing is a specialised field, and not all accounting professionals are eligible to do it. Only CPAs who meet certain education requirements can become auditors, and they must also pass an exam to earn their certification as an auditor.

Auditors review financial records in order to ensure that everything is correct and that no fraud has been committed by employees or partners of the business in question.

Auditing may seem like a dull task, but it’s actually very exciting for those interested in investigating forgeries or making sure someone isn’t lying about their numbers!

As long as you have a good head on your shoulders and some time on your hands (because let’s face it: anyone who actually cheats makes mistakes), then this could be a great job for you!

3. Economics

If you want to learn more about economics, visit the [economics Wikipedia page](https://en.wikipedia.org/wiki/Economics).

4. Finance

Finance is a multi-faceted field that deals with the management of money and assets. It’s an important part of any business and can be broken down into 5 subcategories:

• Financial analysis: This involves analyzing financial statements, markets, industries and competitors in order to make decisions about how to invest funds. You’ll need to have good math skills for this job.
• Financial planning: Financial planners help people set goals for their finances, then find ways to achieve those goals within their budget. They may also advise clients on investing or saving money for retirement. They must be able to communicate clearly so they can explain complicated topics like taxes and insurance rates in an understandable way to clients who aren’t familiar with these things themselves.”

5. Risk management

Risk management is the process by which you try to manage the uncertainty in a business. It’s about reducing risks, reducing their costs and reducing their impact on your business.

Risks are there for every type of business and for every sector. They can come from unpredictable events that could affect your business, such as natural disasters or political changes.

Or they could be caused by mistakes made by people within the business itself—for example, an employee getting injured because they’re not trained properly or an accounting mistake being made because of working methods that aren’t clear enough.

By understanding what risks are present in your area, you can work out what actions you need to take in order to reduce them as much as possible – both now and into the future in order to protect yourself against any unwanted consequences down the line!

It’s a great idea to list the jobs in your field so that people know what jobs are available. A lot of students will choose a career, but the, do not know what kind of job they want or how to find it. If you’re going into accountancy and you’ve never seen an accountant at work, it can be hard to figure out what exactly their job entails.

How To Become An Accountant

For those who want to start their careers immediately, an online Associate of Applied Science (AAS) in Accounting degree program is a great option.

You can enroll in these programs at any time and complete it on your own schedule—and you won’t have to worry about missing class because of any potential travel problems or inclement weather!

Coursework in the bachelor’s degree program teaches students more advanced aspects of financial reporting including budgets, taxes and financial management.

Students will also learn how to apply these skills through hands-on experience in accounting internships.

Bachelor’s degree holders have many career options including work as a tax accountant, auditor or budget analyst. They can also work as financial analysts or financial managers.

However, these positions require further qualifications and experience to be eligible for them.

Don’t be afraid to explore your options. Don’t limit yourself to what you think you can do, or what seems easiest.

Ask for help. Don’t be afraid to fail. Take risks, especially if it’s something that could open up an opportunity for you that you wouldn’t have had otherwise. And most importantly: don’t be afraid to be different!

Career Fields To Work In

Accounting Clerks

Accounting clerks are responsible for keeping track of financial transactions. They record and process data using computer systems, including both manual and automated methods. This job can be found in a wide variety of industries; accounting clerks work at businesses, government agencies and non-profit organizations alike. Accounting clerks serve as the first line of defense against fraud or other errors within their business’ accounting department by verifying invoices and payments before they’re processed through the system. You’ll usually find accounting clerks working in an office environment during regular business hours.

It’s important to note that some companies have separate titles for both an entry-level staff accountant position and an experienced accountant position; these titles may be used interchangeably depending on how well your experience matches up with the job description provided by your potential employer.

Auditors

Auditors are responsible for evaluating the financial records of a company. This includes ensuring that transactions are recorded accurately, ensuring that the financial statements are accurate, and ensuring that the financial statements are not misleading. Auditors may work in an internal capacity with companies or they may work within regulatory agencies tasked with overseeing public companies.

Budget Analysts

Budget analysts prepare budget analyses and forecasts, analyze financial statements and other financial reports, review budgets and forecasts to ensure they are accurate, work with management and staff to develop budgets, prepare budgets for capital expenditures and other capital projects.

Financial Analysts

If you enjoy analyzing financial data and making recommendations, a career as a financial analyst might be for you. Financial analysts are people who study financial information, such as stock prices and company earnings reports, to make recommendations to investors. A common type of financial analyst is called an equity analyst. This type of analyst studies stocks in the stock market and makes decisions about whether or not these stocks are good investments.

A degree in finance, economics or accounting is often required for this career field. Some companies will also require previous experience with investments before they hire someone as an equity analyst

Financial Examiners

If you are interested in auditing and financial regulation, a career as a financial examiner might be right for you. They examine the books of businesses to ensure that they are complying with all applicable laws and regulations. They also provide reports on the company’s finances to upper management so that they can make decisions about how the business is run.

If a company’s finances are not up to par, these auditors will report it to regulators so that action can be taken against them. This includes fines or even shutting down operations until any issues have been rectified (or sometimes legally shuttering the business altogether).

General Accountants

General accountants work primarily with the financial records of a company, while also overseeing the entire accounting department. To become a general accountant, you must have an accounting degree and work experience in your field. General accountants maintain accounts payable and receivable; they hire bookkeepers and assist them in daily tasks; they create budgets; they monitor sales; they do payroll; they review tax returns; and much more.

General accountants are typically responsible for the overall health of their company’s finances, rather than just handling day-to-day transactions. They often report directly to senior management or even board members because their job requires so many different responsibilities across such broad areas.

Management Consultants

If you’re interested in managing people and processes, and want to help companies improve their performance, management consulting might be for you. Management consultants help clients to improve their business processes and efficiency. Consulting firms have become big employers, because businesses are constantly looking for ways to increase efficiency.

Consultants begin by analyzing the client’s operations to see where improvements can be made, then recommend changes which will result in better productivity or profits. Good management consultants also need good people skills: they should be able to communicate well with all levels of staff within a company and work with employees on implementing new systems correctly.

Personal Finance Advisors

You can work in the field of personal finance by advising people on their financial situation, helping them plan for their futures, managing their money, and making smart financial decisions. If you have a passion for helping people with their finances, this could be an excellent career choice for you!

You’ll need to be able to:

• Help clients set up a budget.
• Advise clients on investing strategies.
• Plan for retirement and other long-term goals.

Conclusion

We hope that this article helped you understand the different types of jobs available in accounting, business studies, economics and finance. If you’re interested in working in one of these fields then we encourage you to continue your research and gather more information.