If you enjoy numbers, problem-solving, and understanding how businesses work, both finance and accounting may be a good fit. The two fields are closely connected, but they use financial information in different ways.
How do you know which degree is right for you? It starts with understanding the work each field involves, the strengths they each require, and where each degree can take you.
To help you better understand the differences between accounting and finance degrees — and the career possibilities each can offer — we talked with Lindsey Howell, MAcc, CPA, Assistant Professor of Accounting, and Jonathan Burson, PhD, Assistant Professor of Finance, at Cedarville University. They shared what sets the two fields apart, the types of students who tend to thrive in each, and what to consider as you choose a path.
What's the Difference Between Finance and Accounting?
One of the simplest distinctions between accounting and finance is where each field is looking.
“Accounting is looking back at past transactions and recording those transactions to produce financial statements,” Howell explains. Finance takes that information and looks ahead, using financial statements to help a business or organization make decisions about the future.
Burson compares the two fields to roles in a sporting event. Accountants are a little like the referees: They understand the rules and make sure they're followed. Finance professionals are more like the players: They understand the rules but use that knowledge to make decisions and move forward.
Put simply:
- Accounting asks: What happened, and did we record it correctly?
- Finance asks: What should we do next with the resources we have?
But the fields aren't completely separate. Burson calls accounting the “language of business.” Finance professionals need to understand accounting because the financial information accountants produce provides the foundation for many financial decisions.
Is Accounting a Good Fit for You?
Accounting tends to attract students who are detail-oriented and enjoy structure and organization.
Howell says accounting students often enjoy taking a large amount of information, identifying the important details, and organizing those details accurately. They tend to appreciate step-by-step processes and clear problem-solving frameworks.
Accounting may be a good fit if you:
- Pay close attention to details.
- Like organization and defined processes.
- Enjoy analyzing and organizing information.
- Want to understand how a business is performing financially.
- Work well with others and communicate clearly.
One common misconception is that accounting is “all math.” Howell describes it differently: Accounting is more about the organization of numbers than complicated mathematics.
And technical ability is only part of the job. Accountants frequently work on teams, communicate findings, and collaborate with clients and colleagues. Howell says employers value graduates who have a strong foundation in accounting but are also teachable and able to work well with others.
At Cedarville, students interested in accounting can begin exploring that fit early. Howell recommends starting the accounting major as an incoming student and taking Financial Accounting during the first fall. If the subject feels like a natural fit, students are already positioned to continue through the accounting sequence while preserving flexibility later in the program for opportunities such as an off-campus internship or studying abroad.
Is Finance a Good Fit for You?
Finance may appeal to students who enjoy analysis but are also comfortable making decisions when there isn't one certain answer.
In finance, “you have to be willing to be uncomfortable,” Burson explains. Because finance is focused on the future, professionals often have to assess risk, make assumptions, and decide what to do without knowing exactly what will happen.
Finance may be a good fit if you:
- Enjoy quantitative analysis.
- Like weighing options and thinking strategically.
- Are comfortable with uncertainty and risk.
- Want to use financial information to make decisions.
- Can communicate complex ideas clearly.
That last skill can be easy to overlook. Burson emphasizes that finance professionals aren't just working with numbers; they're communicating with people about decisions that may involve significant financial resources. Being able to understand the numbers and explain what they mean are both important.
Cedarville finance students also have opportunities to practice those skills before entering the workforce. Through Cedarville's student-managed investment fund, students gain experience analyzing investments and managing more than $500,000 in assets. The student-run investment club provides other opportunities to conduct analysis, hear from professionals in the field, and explore finance beyond the classroom.
Ready to explore either path? Cedarville offers both residential accounting and online accounting degree options, as well as residential finance and online finance degree options.
What Can You Do With an Accounting Degree?
An accounting degree can lead to careers in public accounting, corporations, government agencies, and nonprofit organizations.
Common paths include:
- Public accounting, including tax and auditing
- Corporate accounting, including reporting, research, and financial filings
- Government accounting
- Forensic accounting and fraud investigation
- Nonprofit and ministry accounting
Many Cedarville accounting graduates pursue public accounting and the Certified Public Accountant (CPA) designation. Cedarville's accounting curriculum includes electives that Howell says are particularly helpful for students planning to take the CPA exam.
Accounting can also provide flexibility beyond traditional accounting roles. Because accountants develop a strong understanding of financial statements and business operations, Howell notes that accounting graduates can move into corporate or individual finance roles as well.
Note: Cedarville’s Master of Business Administration (MBA) program offers an accounting concentration that can provide additional credit hours for students who need to meet the educational requirements to sit for the CPA exam.
What Can You Do With a Finance Degree?
Investing may be one of the first careers that comes to mind when you think about jobs with a finance degree, but the field is much broader.
Burson divides finance careers into three major areas: investments, corporate finance, and financial markets and institutions.
Finance graduates may pursue careers in:
- Investments and financial analysis
- Financial planning and wealth management
- Corporate finance and financial analysis
- Banking
- Risk management
- Financial technology
- Real estate
- Insurance
- Nonprofit financial management
A corporate financial analyst, for example, might help determine whether a company has enough cash to carry out its plans. A financial planner may help individuals or families make wise decisions about their resources. Someone working in investments may analyze opportunities and determine whether the potential return justifies the risk.
The roles vary, but each involves using financial information to make decisions about what comes next.
Cedarville's location puts finance students within about an hour of Dayton, Columbus, and Cincinnati, providing access to major national and regional banks and other financial employers. Burson says alumni connections create additional opportunities for internships across the country, while finance students also participate in field trips and professional experiences in cities such as Columbus and Cincinnati.
Finance vs. Accounting: How Do You Choose?
If both degrees sound interesting, consider the kinds of problems you naturally enjoy solving.
Accounting may be a better fit if you like asking: What happened? Is this information accurate? Do the details add up?
Finance may be a better fit if you like asking: What could happen next? What are our options? How much risk should we take?
You should also consider the kind of work environment and lifestyle you want. Howell encourages prospective accounting students to explore the differences between accounting career paths. Public accounting, for example, can offer opportunities for quick advancement, but some roles also come with demanding seasons and work-life balance considerations.
And you don't necessarily have to have everything figured out before college.
Burson recommends starting with accounting if you're choosing between the two. Because finance students need to understand accounting anyway, beginning there provides a strong foundation while leaving room to explore finance later.
In fact, the overlap between business programs at Cedarville allows many students to double-major in finance and accounting, broadening their career options after graduation.
How Are AI and Technology Changing Finance and Accounting?
Both professions are evolving as AI, data analytics, and other technologies become part of everyday business.
Howell says companies are using AI and other software to work more efficiently, and many are training employees to use these tools on the job. That doesn't make accounting knowledge any less important. Accountants still need to know the fundamentals so they can recognize when AI gets something wrong — or when its answer simply doesn't make sense.
Burson points to data analytics and AI as ways to work through financial models, change assumptions, and see how different scenarios could affect the outcome. These tools can help financial professionals make better estimates and assess risk, but they still have to know what questions to ask and what to do with the answers.
Cedarville takes a similar approach in the classroom, starting with the fundamentals and making sure accounting students know the material well enough to judge the results AI gives them. In introductory courses, the emphasis is on learning how the concepts work. By the time students reach more advanced courses, however, they are expected to be able to use AI and apply what they've learned to evaluate its work.
In other words, knowing how to use AI isn't enough. Students also need to know accounting and finance well enough to recognize when the technology is — and isn't — giving them a good answer.
Learn more about Cedarville’s approach to AI in the classroom
What's Different About Studying Finance or Accounting at Cedarville?
At Cedarville, preparing for a career in business also means thinking carefully about what it means to steward resources well.
For Howell, accounting makes that connection easy to see. Businesses rely on accountants to report financial information accurately, so integrity matters. She also sees the accountant's role as one of stewardship: helping an organization determine whether it is using the resources God has provided wisely.
Burson puts the idea even more simply: “God owns it all; we're just managers.”
He comes back to that principle throughout his finance courses. Students in required finance classes memorize Scripture related to the topics they're studying and consider how biblical principles apply to financial decisions. They're learning industry practices, but they're also being asked to think about those practices in light of Scripture.
Students get plenty of opportunities to put what they're learning into practice, too. All Cedarville business majors take a software tools course that prepares them to use technology they'll encounter in the workplace. Howell says accounting students are expected to do more than know the material; they need to be able to apply it and explain it to others.
Finance students can also explore financial planning. Cedarville is a CMT Association Academic Partner. The association oversees the Chartered Market Technician (CMT) designation, and Cedarville's partnership allows students to take the CMT Level I exam at a significantly discounted price.
Accounting students can pursue CPA-focused coursework and gain professional experience through opportunities such as off-campus internships while completing their degree.
Together, those experiences prepare students for more than getting their first job. Cedarville wants accounting and finance graduates who know their field, can be trusted to do their work well, and recognize that both the resources they manage and the abilities they bring to their work ultimately belong to God.
See opportunities for business students to get hands-on experience at Cedarville
Finance vs. Accounting FAQs
Is finance harder than accounting?
Neither degree is inherently harder. They simply require different strengths. Accounting tends to be more structured and detail-oriented, while finance involves more uncertainty, assumptions, and risk.
Do you have to be good at math to major in accounting?
You should be comfortable working with numbers, but accounting isn't primarily about advanced math. Howell describes it as organizing numbers and financial information rather than simply performing calculations.
Can you work in finance with an accounting degree?
Yes. Accounting provides a strong understanding of financial statements and business operations, which can translate well into many finance-related roles.
What if I can't decide between finance and accounting?
Start exploring both. At Cedarville, Burson recommends beginning with accounting because it provides foundational knowledge you'll need in finance as well. Taking courses in each field can help you discover which kind of work and problem-solving feels like the better fit.
Which Degree Is Right for You?
Finance and accounting share a common foundation, but they approach financial information from different directions.
If you enjoy details, organization, and understanding exactly what happened, accounting may be the better fit. If you enjoy evaluating possibilities, working with uncertainty, and deciding what should happen next, finance may be a better fit.
At Cedarville University, either path will give you opportunities to build strong business skills, gain practical experience, and learn to approach financial decisions through a biblical understanding of integrity and stewardship.
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