Significance of Financial Accounting Finance and accounting is a wide and broad field with a lot of potential for those who pursue it. The field is very rewarding and promises access to jobs in many sectors across the business and financial sectors. The field exhibits rapid growth which further makes it a better and more reliable one to pursue.
There are a number of factors which make this field one of the best to go for as will be discussed further in their paper. There are a wide range of career opportunities for people who pursue, there are many fields where a financial expert can work for (Tahat, Dunne, Fifield, & Power, 2016). For instance, they can work in brokerage firms, insurance companies, investment companies, credit unions, banks, investment services, corporate management, credit unions, and personal financial advisor and so on. Finance has a narrower focus as related to other business courses which are somehow too broad for a learner to withstand (Tahat, Dunne, Fifield, & Power, 2016). Financial accounting is very specific and focuses on financial calculations and concepts which make it easy for the leaner to absorb, internalize and practice. Financial accounting is personally driving and the person who pursues a degree in this becomes more inquisitive and outgoing. It prompts an individual to socialize well with others and does not only entail doing calculations.
Personality is essential and comes along with intelligence and personality. Financial accounting offers an opportunity for growing job prospects (Tahat, Dunne, Fifield, & Power, 2016). It provides a wider range of financial products and services as wellas promoting geographic regions where the financial specialist can serve. Therefore, finance has the potential to expand to other careers related to financial matters such as financial analysis and evaluation of economic performance over time. References Tahat, Y. A.
, Dunne, T., Fifield, S., & Power, D. M.
(2016). The impact of IFRS 7 on the significance of financial instruments disclosure: Evidence from Jordan. Accounting Research Journal, 29(3), 241-273.