Studying a degree is an investment in your future. Despite this, even if you are eligible for a student loan, paying the fees for your course can be daunting, especially if you are self-funding. When considering the next step in your personal development, it’s important to focus on the outcomes of all the hard work you’ll be doing over the next few years. A good indicator of the value of your course is to review the average earning potential of graduates that studied for the same or similar qualifications. Below is a quick evaluation of the skills you will learn from our BA (Hons) Management and Professional Accounting course, the potential careers you could have access to and your possible future earning potential.
Management and Professional Accounting Degree
Every business, big or small, has an inescapable need for accountancy. Cash flow, commerce, and profit and loss are areas of common concern across business and enterprise. Not only can an accountant keep an individual’s financial affairs in order, they can also suggest more economic financial processes in order to increase the efficiency and cost-effectiveness of a business. The skills earned through an accounting degree are transferable, allowing you to work in an accounting context over a variety of sectors. A degree in bachelor’s degree in accounting also educates you in a universal financial language, equipping you with the skills needed to progress both academically and professionally.
- Financial statements
- Financial systems
- Credit control
- Business finance
- Management information
- Business strategy analysis
- Financial language and practice
- Financial ethics
- Knowledge and awareness of business organisations
- Numerical and quantitative skills
- Problem-solving and analytical ability
According to Prospects, in the UK, ‘More than two-thirds of accountancy and finance graduates are in employment six months after graduating. A fifth of these are working as chartered and certified accountants with others working in finance administrative roles.’ Possible careers include:
- Accounting technician
- Chartered accountant
- Chartered certified accountant
- Chartered management accountant
- Chartered public finance accountant
- Company secretary
Jobs where your degree would be useful include:
- Licensed conveyancer
- Management consultant
- Purchasing manager
- Retail banker
- Tax adviser
Earning potential and salary expectations:
£25,750 is, according to the latest biannual survey from the Association of Graduate Recruiters, the average starting salary offered by accountancy and professional services firms, a figure which is predicted to rise 5.8% in the coming year (in the UK). National salary data states that accountants can earn anywhere from 17 to £50,000 throughout their career, with top-level senior roles rising to £70,000 plus. The median salary for a Chartered Accountant is £34,000 while a Finance Manager could be picking up £38,000. Senior roles, such as a Financial Controller, bring home a median of £45,000 per year, whereas a Financial Director could receive upwards of £70,000 per year. To succeed in gaining higher salary jobs in the accountancy profession, experience and certification are highly valued. Certification includes but is not limited to AAT, IFA and ICAEW certifications.
Total Jobs has compiled a list of the average salary of those in the accountancy profession by sector:
Senior Appointments: £70,000
IT & Internet: £42,500
Banking, Insurance, Finance: £37,500
Recruitment Sales: £32,500
Transport, Logistics: £27,000
Graduate, Trainees: £25,000
You can view the full table here.
Future study and training opportunities:
For those with an undergraduate degree in Management and Professional Accounting and other business-related fields, further study offers the opportunity to specialise your career and build on your work experience and the knowledge you gained from your undergraduate course. Further study means higher earning potentials, more responsibility and a greater range of employment options. Without an undergraduate or bachelor’s degree, you may be left without the foundation of academic knowledge to build on.
Interested in studying a BA in Management and Professional Accounting online?
In the CUC Online Management and Professional Accounting course (BA, HND or HNC), students are taught management concepts in tandem with accounting principles. This allows graduates to realise the impact of their financial decisions on an operational level, enabling them to work alongside businesses with more ease. If already working in the field, the knowledge imparted by this course will likely reinforce experience and, since the programme is taught online, there is no need to leave current employment in order to study which, in many ways, seems like a backwards step. Click here to view the course in full. Remember, should you decide to take the professional qualification with AAT, IFA or ICAEW, there will be additional student membership fees and assessment fees.