Bachelor of Technology: Accounting and Finance at Polytechnic of Namibia

What is Accounting and Finance?

Financial accounting is the field of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use.

Overview

Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions

Frequently Asked Questions

What does finance and accounting do?

Financial accountants keep track of their organization’s financial operations. Responsible for maintaining financial accountability, they oversee areas like payroll, taxes, and spending. They also provide reports to management and investigate financial discrepancies.

Is accounting and finance hard?

While accounting does require a complex set of skills and abilities, as well as excellent attention to detail, it really isn’t any more difficult than many of the other popular fields of study that lead to excellent lifelong career opportunities.

What is the difference between studying accounting and finance?

Therefore, the key difference between an accounting degree and a finance degree, is that accounting focuses on the tracking of how money is shifted and handled, while a finance degree focuses on how the actual shifting and handling of money happens.

Why should I study finance?

In other words, finance helps us make better decisions with our money and accounting enables us to keep track of it. You use finance in innumerable everyday financial scenarios, such as: Making a budget for your groceries. Deciding how much of your paycheck you want to save and how much you want to invest or spend.

Which is better accounting or finance?

An accounting degree allows for many more options. Finance majors have courses more focused on financial services and consultancy. Finance is a great choice for those students who want to manage current and future financials of a company or organization.

Is accounting good career?

Accountants play an incredibly important role in every organization, making this a great career for anyone who wants to work in an important position. Salaries for trained accountants are quite high, which means this is an excellent industry for anybody looking to maximize earning potential.

Is accounting a lot of math?

Accounting isn’t hard-core math. It’s basic addition, subtraction, multiplication, and division. Possibly some light, entry-level algebra, but that’s it. You don’t have to understand calculus.

Is accounting boring to study?

People believe that accounting is a pretty boring profession, according to a recent study from the University of Essex. The study did not make absolute claims over what is and is not boring but instead delved into what people perceive as boring.

Does accounting pay well?

The median annual wage for an accountant is well above the national median average for occupations. The top-paying industries for accountants include finance and insurance, management of companies and enterprises, tax preparation, and the government.

Is studying finance hard?

Finance is a moderately hard major. Finance is easier than STEM subjects but more difficult than liberal arts majors. Most students find a finance degree difficult because of the moderately complex mathematics involved, the interdisciplinary approach, and the unfamiliar concepts and vocabulary included in the major.

What is better economics or finance?

Economics studies the prosperity of a society’s goods production on a macro level. Finance studies the organizational methods used on a micro level to increase revenue. Students who prefer empirical research and statistical analysis are likely better suited for economics.

What is a finance degree called?

A finance degree can go by names like Bachelor of Arts in Finance, Bachelor of Science in Finance and Bachelor of Business Administration in Finance. These programs may have slightly different emphases from one another, but all three can help prepare you for generally similar career tracks.

Which is harder finance or economics?

Economics is harder than Finance because Economics uses more advanced math (algebra, calculus, differential equations) to explain more complicated scenarios and processes, making it harder to understand. Keeping in mind the level of difficulty does depend on your interest and skills.

What do accountants do?

Ensuring the accuracy of financial documents, as well as their compliance with relevant laws and regulations. Preparing and maintaining important financial reports. Preparing tax returns and ensuring that taxes are paid properly and on time.

Is accounting stressful job?

Accountants are responsible for accurate processing and reporting of a company’s financial information, and mistakes can incur penalties, or worse. The job often entails long, stressful hours, and sitting at a desk all day isn’t particularly good for your health.