Key Differences between Accounting and Financial Management Courses

14 Feb 2018

So you are ready to study but face a decision in whether you want to take on an accounting or a financial management course.

The first thing you need to do is have a better understanding of the different roles between accountants and bookkeepers.

Also consider the stage of your career and how you want this course to impact you in the short or long-term.

Let's start with an explanation of each role.

What is a bookkeeper?

At the core of the position, your job is to keep the books. This means that you would have to manage the creation and distribution of invoices, handle supplier payments, statements and capturing of data. You would also be involved with VAT returns and payroll.

Mathematics should be a strong point in your skill set if you choose this path, and although it can be learnt on the job, studying a quality bookkeeping short course can drastically speed up the possibility of you getting into this career faster.

What is an accountant?

An accountant may deal with some similar tasks to a bookkeeper, but will mostly follow on with a wider field of duties once the bookkeeper has done their job. In fact, the bookkeeping system at a company is designed by the accountant, and they will then need to compile reports based on the data captured. This includes financial statements, tax returns and other confidential reports. The accountant is also responsible for measuring profit, and the work done beforehand will ensure that there is no faulty data.

How do they differ from each other?

Simply put, the bookkeeper would need to handle daily financial transactions of a business while the accountant uses those records to put together financial reporting and analysis. However, it must be kept in mind that there are tasks that do overlap.

Which one should I choose?

The end decision remains up to you; however, a possible option is to consider a bookkeeping short course, which would allow you to start your career sooner. This will allow you to start moving up the ladder in a business, as well as allow for further opportunities to study and progress to becoming an accountant - if this is your end goal.

In a job that boasts so little room for error, it is essential that you are prepared for what lies ahead. IQ Academy offers trusted bookkeeping short courses that will properly prepare you for the role by covering all of the key aspects of the job, ensuring that you can start your career in complete confidence.