Cedric Grimstead: finance is way better if you plan on working by managing others money.
Libby Berkovitch: How hard is the finance major compared with accounting major
Elli Esaw: Frankly, it's fairly difficult to get the accounting degree (it's getting to be a 5 year degree), pass the exam and then work under a CPA until you get your CPA license. Once licensed you will have to take a week of annual training to keep the CPA license current. (There are a LOT of former CPAs. Just as there are a LOT of former lawyers.) The license does allow you to put the word CPA behind your name and sign off on certain legal documents. It doesn't prove, however, that you know anything about either finance or taxes. (There is another designation, Enrolled Agent, that signifies someone whose specialty is US income tax. It has it's own exam and annual licensing requirements. While an accounting degree is helpful, you don't have to have one to sit for the exam.) Keep in mind, while! one shouldn't make an investment decision because of the tax implications, not knowing the tax implication is deadly. I had customer tell me that his banker told him he could cash out a particular investment and by doing X, he could exclude the income from his taxes. The customer was LIVID when I explained to him the requirements for doing X--clearly he didn't qualify--and that oops, it was still income and not only had he cashed out the investment already, he'd also dispersed the funds....Show more
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