Can You Go Into Accounting With A Finance Degree | Clear Career Path

Understanding the Overlap Between Finance and Accounting

Finance and accounting are closely related fields within the business world, yet they have distinct focuses. Finance primarily deals with managing assets, investments, and capital, while accounting centers on recording, reporting, and analyzing financial transactions. Despite these differences, the foundational knowledge in finance degrees often covers many accounting principles.

A finance degree typically includes courses such as financial reporting, managerial accounting, auditing basics, and taxation fundamentals. This overlap means graduates gain exposure to accounting concepts that can prepare them for entry into accounting roles. However, transitioning fully into accounting usually requires additional training or certifications to meet industry standards.

The skill sets in both fields share common ground: analytical thinking, attention to detail, proficiency with financial software, and understanding of regulatory frameworks. These shared skills ease the path for finance graduates looking to pivot into accounting careers without starting from scratch.

Key Skills Needed for Accounting Careers

Accounting demands precision and a strong grasp of specific technical skills. If you hold a finance degree but want to pursue accounting professionally, focusing on these skills will be crucial:

• Generally Accepted Accounting Principles (GAAP): Mastery of GAAP is essential since it governs how financial statements are prepared.
• Financial Statement Preparation: Ability to compile balance sheets, income statements, and cash flow statements accurately.
• Tax Knowledge: Understanding tax codes and regulations helps in compliance and planning.
• Auditing Techniques: Learning how to examine financial records critically is vital for many accounting roles.
• Accounting Software Proficiency: Familiarity with tools like QuickBooks, SAP, or Oracle Financials is often required.

While many finance programs touch on these areas lightly, dedicated accounting coursework or certifications will deepen your expertise.

The Role of Certifications in Bridging Finance to Accounting

Certifications act as formal proof of your competency in accounting principles and practices. For finance graduates aiming at an accounting career, obtaining credentials can be a game-changer. The most recognized certifications include:

• Certified Public Accountant (CPA): The gold standard in accounting certification; requires passing a rigorous exam covering auditing, regulation, financial accounting, and business environment topics.
• Certified Management Accountant (CMA): Focuses more on managerial accounting and financial management rather than public accounting.
• Certified Internal Auditor (CIA): Specializes in auditing processes within organizations.

Earning these certifications often requires meeting education prerequisites—such as specific coursework in accounting—and passing exams that test your knowledge thoroughly. Many finance degrees cover some of the required material but may need supplementation through additional classes or self-study.

The CPA Pathway for Finance Graduates

The CPA license is highly respected and opens doors to diverse roles including public accounting firms, corporate finance departments with an audit focus, government agencies, and consulting firms. To qualify for the CPA exam in most states:

• You must have completed at least 150 semester hours of college education (usually more than a typical bachelor’s degree).
• You need specific coursework in subjects like auditing, taxation, and advanced financial accounting.
• You must pass all four parts of the CPA exam.
• You require relevant work experience under a licensed CPA’s supervision.

Finance degree holders often fulfill much of the general education requirement but may need extra classes to meet the specialized credit requirements.

Diverse Career Opportunities After Transitioning

Once you bridge your finance background with solid accounting credentials or experience, you unlock numerous career paths:

Career Role	Description	Typical Requirements
Public Accountant	Handles audits, tax preparation & consulting for clients ranging from individuals to corporations.	Bachelor’s degree + CPA certification preferred; strong client communication skills.
Corporate Accountant	Manages internal financial records including budgeting & compliance within companies.	Bachelor’s degree; knowledge of corporate finance & GAAP; certifications helpful but not always required.
Financial Analyst (Accounting Focus)	Analyzes company financials using both finance & accounting data for investment or management decisions.	Bachelor’s in Finance/Accounting; proficiency with Excel & analytical tools; CFA optional.
Internal Auditor	Evalues internal controls & risk management processes within organizations.	CIA certification advantageous; understanding of audit standards critical.
Tax Specialist/Consultant	Advises on tax planning strategies and ensures compliance with laws/regulations.	Bachelor’s degree; specialized tax courses or CPA certification beneficial.

Each role leverages different aspects of your combined knowledge base. For example, corporate accountants benefit from finance insights into budgeting while public accountants rely heavily on detailed understanding of tax laws.

Navigating Educational Gaps Between Finance and Accounting Degrees

A bachelor’s degree in finance provides a strong foundation but may lack depth in certain core areas critical for pure accounting roles. Common gaps include:

• Differential Emphasis: Finance programs focus more on investment analysis and capital markets than on detailed bookkeeping or audit procedures.
• Lack of Taxation Depth: Many finance degrees offer only introductory tax courses compared to comprehensive taxation studies found in accounting programs.
• Auditing Exposure: Auditing classes are often limited or elective rather than core requirements in finance curricula.

Addressing these gaps through targeted coursework—either via online classes or post-baccalaureate certificates—is advisable before pursuing certification exams like the CPA.

A Typical Course Comparison Table: Finance vs Accounting Degrees

	Bachelor’s in Finance Courses	Bachelor’s in Accounting Courses
Financial Reporting & Analysis	Covers basics with emphasis on interpretation for investments.	Dives deep into preparation & compliance under GAAP standards.
Managerial Accounting	Taught as part of cost analysis for decision making.	Covers budgeting systems & internal cost control extensively.
Taxation Courses	A brief overview focusing on individual taxes mostly.	Covers corporate taxation comprehensively including planning strategies.
Auditing Classes	Seldom included or offered as electives only.	A core subject emphasizing audit processes & ethics thoroughly.
Earnings Management & Ethics	Taught with focus on investment implications & regulations.	Taught with focus on compliance & professional responsibility standards.
Investment Analysis & Portfolio Management	A major focus area exploring risk-return tradeoffs extensively.	Largely absent except basic coverage if any at all.

This comparison highlights why supplementing education is often necessary before entering professional accounting roles.

The Practical Steps To Transition Into Accounting With A Finance Degree

Making the leap from finance graduate to accountant involves strategic moves:

• Pursue Additional Coursework: Enroll in key subjects such as advanced financial/accounting reporting, auditing principles, and taxation either at community colleges or online platforms like Coursera or edX. 
• Select Relevant Certifications: Decide which credential aligns best with your career goals—CPA if public/accounting firm work appeals most; CMA if managerial roles interest you. 
• Create Practical Experience Opportunities: Seek internships or entry-level roles focused on bookkeeping or accounts payable/receivable within companies. 
• Leverage Your Finance Knowledge: Highlight your understanding of market dynamics, risk assessment, and financial modeling when applying for accountant positions. 
• Pursue Networking Within Accounting Circles: Join professional organizations such as AICPA (American Institute of CPAs) or local chapters. 
• Lifelong Learning Commitment: Stay updated on evolving standards like IFRS changes, new tax laws, and technology advancements impacting accounting practices. 

These steps create a strong foundation that turns your finance background into an asset rather than a limitation.

The Benefits Of Having A Finance Degree In Accounting Roles

Holding a finance degree while working as an accountant offers unique advantages that pure accountants might not possess:

• Your deep understanding of capital markets can improve forecasting accuracy when preparing financial reports that influence investment decisions. 
• You bring analytical skills honed through studying portfolio management which help identify trends beyond raw numbers. 
• Your familiarity with risk management frameworks enhances internal controls design—a key aspect auditors value highly. 
• You’re well-equipped to bridge communication between CFOs focused on strategy versus controllers managing day-to-day books. 
• The blend broadens career flexibility allowing shifts between treasury functions, risk analysis, and traditional ledger-based roles without retraining completely. 

This hybrid skill set makes you attractive to employers seeking versatile professionals able to wear multiple hats efficiently.

Salaries And Job Outlook For Those Crossing Over From Finance To Accounting

Salary prospects vary depending on location, industry sector, and level of certification achieved. Generally speaking:

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Position Title	Average Annual Salary (USD)	Certification Impact*
Entry-Level Accountant (No Certification)	$50,000 – $60 ,000	Moderate increase upon CPA/CMA completion
Certified Public Accountant (CPA)	$70 ,000 – $90 ,000	Significant salary boost + leadership potential
Senior Corporate Accountant / Controller	$85 ,000 – $110 ,000+	Often requires CPA + experience
Internal Auditor / Compliance Officer	$65 ,000 – $85 ,000	CIA certification adds value
Tax Specialist / Consultant	$60 ,000 – $80 ,000+	CPA preferred for higher tiers

*Certification impact varies by employer size & industry

The demand for skilled accountants remains steady due to regulatory complexities requiring constant oversight. Combining this demand with your added finance expertise positions you well for long-term career growth.

Frequently Asked Questions

Can You Go Into Accounting With A Finance Degree?

Yes, you can enter accounting with a finance degree. The two fields overlap in many areas, and finance programs often cover essential accounting principles. However, gaining additional certifications or training is usually necessary to meet professional accounting standards.

What Skills From A Finance Degree Help In Accounting Careers?

A finance degree provides skills like analytical thinking, attention to detail, and familiarity with financial software. These are valuable in accounting roles, especially when combined with knowledge of accounting principles and regulatory frameworks.

Do Finance Graduates Need Certifications To Work In Accounting?

While a finance degree offers a strong foundation, certifications such as CPA or CMA are often required to work professionally in accounting. These credentials demonstrate expertise and help bridge gaps between finance education and accounting practice.

How Does A Finance Degree Prepare You For Accounting Roles?

Finance degrees typically include courses in financial reporting, managerial accounting, auditing basics, and taxation. This coursework introduces key accounting concepts that prepare graduates for entry-level accounting positions.

Is Additional Training Necessary To Transition From Finance To Accounting?

Yes, additional training or coursework focused on Generally Accepted Accounting Principles (GAAP), tax regulations, and auditing techniques is important. This specialized knowledge ensures finance graduates meet industry requirements in accounting roles.