Yaser Nasser Alulait tells about Accounting and Economics

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Yaser Nasser Alulait tells that accounting
prepares, analyzes and understands financial
statements, while economics studies the
production, consumption, and even distribution of
certain goods and services. The main difference
between accountants and economists is that
accountants track the financial transactions of
a company, while economists pay close attention
to economic trends and their impact on the
distribution of goods and the spending of money,
often referred to as supply and demand.
Accountants record, report, and analyze financial
transactions. Accountants ensure that the
financial performance of the organization is
balanced and that proper procedures are in place
for collecting and reporting such figures. While
accountants create reports based on accounting
principles and the rules and regulations that
support their industry, economists solve problems
using a variety of economic theories and their
own research. Economists and accountants play
their part in setting direction and
sustainability for businesses, industries and
even governments. Economists are sociologists,
and accountants are business school graduates
with special training in corporate finance. The
spheres of macroeconomics and microeconomics take
into account the role of accountants in the
economy as a whole, but otherwise the jobs of the
two professions are almost completely
independent. The spheres of economics and
accounting deal with financial issues, but apart
from common interests, they are not closely
related. If you are interested in academic
research on financial issues, you may prefer
economics, but if you are more interested in
working in industry, you may prefer accounting.
Once you get a clearer understanding of the
differences between economics and accounting, it
will be easier for you to decide which degree
best suits what you want to pursue in your
career. Many employers who are accountants are
looking for candidates with specialized technical
skills and knowledge that differentiate
accounting diploma programs from business degree
programs. In fact, many of the most in-demand
business school graduate jobs are in the
accounting field. Due to the emphasis on data
analytics, practical applications, and strategic
decision-making, graduates with degrees in
accounting, business, and finance earn salaries
well above the majors, according to the National
Center for Education Statistics. The Department
of Economics, Accounting and Economics has an
excellent reputation for placing its graduates in
a wide variety of professional positions, as
well as undergraduate and professional
programs. The Department of Economics,
Accounting, and Economics offers
interdisciplinary study abroad programs open to
any Albright college student and targets a
diverse business and cultural environment. The
Department of Accounting, Economics, and Finance
offers unique courses to prepare students for
careers in the business, government, and
non-profit sectors. Accounting has many
branches financial accounting related to
corporate financial statements, management
accounting related to the company's internal
decision-making process, forensic accounting
related to fraud and/or error investigation,
covering accounting and/or benefits that deal
with risk analysis and foreign exchange
reactions, and many more.