When enrolling for a business degree program in any university in the world, you have the option of specializing in either finance or accounting. But many students are not in a position to choose the right specialization.
To begin with Accountants are responsible for petty cash, facilitating bank transactions, processing salaries and preparing financial statements while Financial Officers and Managers are responsible for maintaining company assets, preparing financial statements and ensuring the company utilizes financial resources effectively.
Comparing the responsibilities of the accountant and Finance officer, the later earns more than the former in almost all fields. For instance in U.S.A the average salary of an accountant is $ 74,000 per annum while that of a financial analyst is at least $90,000.
In terms of responsibilities, professionals in finance are more senior than accountants-they delegate duties to accountants.
In terms of promotions, finance professionals get promoted faster than accountants simply because their responsibilities are more diverse.
It now obvious Finance is by far better than accounting.
