Business administration and accounting are two very similar fields that, in smaller companies, can often be one department. However, in bigger companies, the distinction between them is clear, and professionals of the fields work in specific departments.
So, let’s see what each of these fields entails and where they differ.
What Is a Business Administration Degree?
A business administration degree is designed to help students build a foundation business ethics and core business administration subjects. These subjects include general business administration, finance, accounting, human resources, project management, marketing, etc.
The business degree’s curriculum is designed in such a way to develop strategic planning and financial skills in students. After completing the business program, you can expect to be able to lead any kind of project in any given area of business.
What Is an Accounting Degree?
An accounting degree is focused on equipping students with knowledge of finances such as recordkeeping for businesses, government, organization, and other entities. Some of the subjects you will learn about in this program include corporate accounting, public accounting, taxing, etc.
An accounting program will prepare you on how to consult, manage, and advise organizations and individuals on financial matters. A bachelor’s degree in accounting can help improve your professional life since accounting graduates are in high demand.
Difference Between Business Administration and Accounting
Although business administration and accounting are closely tied together, they have their differences. The main difference between these two is what the major’s main focus is. Business administration doesn’t deal directly with bookkeeping, tax work, and accounting—rather with strategic financial planning. Accounting, on the other hand, deals directly with financial matters only.
Here are the two main differences between them.
Job opportunities
Job opportunities for these two fields especially differ when it comes to entry-level jobs. While business administration deals with the organization as a whole, accounting tends to focus more only on the financial side of it. In essence, their main difference is that an accountant may deal mostly with past expenses, whereas someone with a business administration background will deal with the companies financial future.
With a business administration degree, these are some potential job titles:
- Sales Manager
- Market Research Analyst
- Logistician
- Real Estate Appraiser
- Buyer or Purchasing Agent
- Compensation and Benefits Analyst
- Insurance Underwriter
With an accounting degree, these are some potential job titles:
- Accountant
- Claims Adjuster, Appraiser, Examiner, and Investigator
- Cost Estimator
- Financial Analyst
- Financial Clerk
- Insurance Underwriter
- Loan Officer
- Logistician
- Management Analyst
- Market Research Analyst
Skills needed to succeed
Both accounting and business administration require a similar skill set. However, while a business administration requires someone with strong leadership skills, in accounting, you can very well get by without them.
Both of these fields require problem-solving and analytical skills, and people with strong communication skills.
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Is Business Administration or Accounting Better?
There is no definitive answer to this question. Business administration and accounting, although fairly similar, both have their own distinct qualities and even meeting points in the job market.
The answer to which one is better, in this case, is subjective. It comes down to what you want to focus on. In addition, since they have many similarities, it’s possible to switch careers midway, and you wouldn’t be making a mistake with either one. There are also many positions available to professionals with either degree, such as market research analyst, logistician, management analyst, etc.
The Bottom Line
Both of the fields are increasingly popular and promise good career growth. If you’re good at numbers and solving problems quickly, you can succeed in whichever path you choose to follow. There is no right or wrong answer to this dilemma. If you have your mind set on a degree, you can start today by applying for either Bachelor of Arts in Accounting or Bachelor of Arts in Business Administration program at BAU!
Frequently Asked Questions (FAQs)
Which one is better, business administration or accounting?
Both business administration and accounting are important fields in the business world. Which one is better would depend on your individual interests, skills, and career goals. Business administration focuses on managing and leading organizations, while accounting focuses on financial reporting and analysis.
What business degree pays the most?
Business degrees offer various concentrations, such as entrepreneurship, leadership, and accounting. The most lucrative majors in business include marketing, finance, and international business.
What degree is best for accounting?
A Bachelor’s degree in Accounting is the most common and recommended degree for pursuing a career in accounting.
Which is better, BBA or BS accounting?
Both BBA and BS Accounting are good options. It ultimately depends on your career goals and personal preferences. BBA provides a broader business education, while BS Accounting focuses more specifically on accounting principles.
What is the highest salary in business administration?
The highest salary in business administration varies depending on various factors such as location, job title, years of experience, and industry. However, top executives such as CEOs and CFOs typically earn the highest salaries in this field.
What is the highest salary in accounting?
The highest salary in accounting may vary based on many factors, such as experience, education, location, and type of industry. Based on data from ZipRecruiter, it appears that the position of Audit Partner offers the highest annual wage, with salaries ranging from $215,000 to $360,000 per year.