Accounting and Finance
What Is Accounting?
Something you know about accounting.
What to expect from Account graduate People?
How does Accounting work?
Types of Accounting
Financial accounting refers to the processes used to generate interim and yearly financial statements. All financial transactions that occur during a financial year are summarised into the balance sheet, income statement, ledger and cash flow statement. Most companies' financial statements are audited annually by an external CPA firm.
Just as managerial accounting helps businesses make decisions about management, cost accounting helps companies make decisions about costing. Essentially, cost accounting considers all costs related to producing a product. Analysts, managers, business owners and accountants use this information to determine what their products should cost.
Administrative accounting handles and reports internal factors and figures that influence decision making, operational control, and managerial planning. Administrative accounting is often performed by a managerial accountant, who may help a company with internal operational accounting duties like payroll, taxes, and management of company assets.
Types of Specializations
When choosing your Master's studies in Accounting topics, you may be able to emphasise an accounting, finance, trade or business focus or opt for more balanced study options. As a bachelor's level course, the Masters in Accounting allows you to formulate a highly specialised and personalised degree with a narrow focus. If you wish, you can.
A specialisation in forensic accounting involves applying professional specialised tools, models, techniques, skills and knowledge to real-life case studies to a standard admissible to a court of law. You'll learn how to investigate litigation cases and provide litigation support to an investigation, give expert witness statements, and perform fraud examinations.
This specialisation focuses on the science and theory of auditing, based on an understanding of accounting principles. Auditing in accounting evaluates a person, organisation or project's financial performances, operations, data, statements and records. You'll gain an in-depth of knowledge generally accepted auditing standards, evaluate alternative audit models for their practical relevance and theoretical justification, learn how to use computer-assisted auditing techniques (CAAT) and consider risks associated with evaluating finances.
What is Finance about?
What does a Finance degree offer?
What do Finance degrees cover?
Entry requirements for Finance Degrees
Personal Financial Advisor
- Analyze capital, expense and financial data to unravel or enrich a methodology.
- Develop solutions and suggest changes to increase an organisation’s efficiency
- Advise organisations on ways to reduce costs and increase revenues
Director of Finance
- Enter financial facts and dealings into worksheets and tabulations
- Create financial statements, income analysis and yields of accounts.
- Ensure correctness in all data and report any differences
Tax examiner/revenue agent
- Verify that citizens and organisations are paying the adequate amount of all the taxes
- Audit and investigate tax returns to ensure correctness
- Issue refunds or contact clients to request extra payment if the proper amount was not paid