Feedback on Applied Finance, Business Administration, Commerce & Accounting (2 Viewers)

[cutiebabyforeva]

Hi :wave:

Im in year 12 atm and I want to do a combined law degree with either international studies (which is not relevant to this forum I know) or applied finance.

The only thing is that in the uni handbook the description for Applied Finance, Business Administration, Commerce and Commerce - Accounting seems really similar (especially when it comes to career opportunities)... So can anyone tell me the difference?

Oh and if anyone here does a combined law degree with one of these courses or just one of these courses by itself, could you please give some feedback? Is the course difficult, interesting, time consuming and what kind of work do you do?

Thank you

 

[Luke!]

I'm doing a double degree in Applied Finance and Commerce-Accounting.

Accounting is boring; think along the lines of "debit this account, credit this account". The advantages of the degree are a high degree of job security along with a decent salary. It qualifies you to be an accountant in one form or antoher, but a lot of accountants eventually move into senior management. You'll also be able to work internationally, so there's the opportunity to combine travel with work. It's a pretty easy course and I haven't found it very challenging, but I haven't found it very stimulating either.

Finance is much more interesting, but also more difficult. You learn about financial markets and about the securities traded within those markets and how they are priced. It'll lead you into jobs such as financial advisory, financial management, internal treasury, stock broking, and maybe even the much glorified investment banking. I like this degree much more than my accounting degree.

I don't want to comment on the other degrees because I don't know enough about them, but I do think a law/finance double would look pretty sexy, but I also think law/commerce and law/BBA are pretty popular combinations too.

Remember, in the end it's not just what degrees and qualifications you've got, it's what skills you can bring to the table. Just because you do X degree, doesn't mean you'll end up in Y job.

 

[atreus]

in first year, there is not much difference between commerce-accg/law, business admin/law, app finance/law and commerce/law. they all pretty much do the same subjects, like basic stats, econ, accg and acst and law. i am currently doing applied finance/law, but i wasnt sure exactly what i wanted to do. but at least the opportunity is open for me to change down the track, because a lot of the first year subjects are the same across all these areas.

 

[cutiebabyforeva]

Thanks for the reply guys!
Yeah my mum advised me to do Applied Finance over the other stuff because she says its more practical? Or something like that lol... And I don't think I would have too much trouble with any kind of those courses because Im good at Maths (doing 4U) and Economics

 

[Skittled]

Just keep in mind that what you do will heavily influence where you do/want to go. My impressions as a 4th year BBA+BA-Psych student, with a girlfriend doing Law+Psych...

Having seen the influence of studying law, and assuming you're interested in practising law (which, after those 2 extra years, I assume you are, however, many law students appear to be interested in the 'other' part of their degree, and don't practice), keep in mind your 'other' degree will probably seriously flavour the direction you go in.

Business admin will make you a generalist, with a reasonable understanding of all/most areas of business, and a decent understanding in your areas of specialisation. Personally, I'd say this is pretty good for a law student, as it gives you general understanding of how business fits together, rather than just how interest and tax and annuities and superannuation fits together.

My impression would be that accounting will put you in a more 'consumery' law position... ie you might be helping XYX pty ltd down the road fight the ATO with their bad ruling... (but I'm just a business generalist, as above, so don't rely on that). (But, this could change if you went down the CA/CPA/other-acronym road... but then you'd be an accountant, not a lawyer...)

AppFin would put you into a more 'corporatey' position. That said, if you've got a head (ie 4u maths... economics would help but only in 1st year, judging from just my simple BBA) and mindset for applied finance, go for it. You'll be earning more than most of us at the end of it. Combined with law, I assume it'd be M&A and corporate law (ie big money, big workload, nonexistent personal life)

Finally, that you're considering this seriously, congrats on your marks (or, good luck, at the very least!)

 

[Luke!]

Yeah, M&A is all wet for law/finance students... big money too.

 

[Supra]

AppFin is preferred in your situation. Since you are doing 4unit maths, consider an actuarial/law program. Otherwise appfin would be the next best option.

However, not many people at Mq may realise this, but you can do a BCom (Fin) sequence whereby you dont have so many restrictions and you can pick all teh subjects of an appfin student (if u wish). The only difference is that you wont be able to do the AppFin specific FIN310 in third year. The benefit is you'll need less UAI, you havea bit more flexibility and can choose more accg units if you like them. You can easily move to a Accounting Law degree from that one too.

 

[cutiebabyforeva]

big money, big workload, nonexistent personal life

Lol I want a personal life :S
Haha but thanks so much for the help, detailing everything etc was heaps good...

 

[cutiebabyforeva]

Yeah, M&A is all wet for law/finance students... big money too.

Whats M&A? :S

 

[cutiebabyforeva]

AppFin is preferred in your situation. Since you are doing 4unit maths, consider an actuarial/law program. Otherwise appfin would be the next best option.

Yeah at first I was considering doing Acturial Studies but I think it's going to be wayy too hard and not exactly my cup of tea... It's more about prediction stuff with analysis and statistics isn't it? And I don't think I'll enjoy it too much. Plus with Law the UAI is like 98.5 lol

 

[Skittled]

Whats M&A? :S

Mergers & Acquisitions.
...all the nitty gritty details and legal ins and outs of things like the current Coles situation (or proposals of such situations).

 

[Luke!]

Whats M&A? :S

Survival of the fittest... in more sense than one.

 

[redruM]

Mergers & Acquisitions.
...all the nitty gritty details and legal ins and outs of things like the current Coles situation (or proposals of such situations).

KKR = win!

It has just occurred to me that maybe I should try to place myself to work for/with private equity firms in the future...big growth in this area me thinks. Anyone knows/heard much this?

Original Poster: what/where do you see yourself working in the future? Also consider that you can change from LLB/AppFin -> LLB/Accg more easily (lower GPA requirement...I'm pretty sure LLB/BBA has the same GPA requirement as LLB/AppFin). You won't fall behind if you do transfer...the subjects are almost identical in first year. Just confirm this though...

 

[Tabris]

After 1 year of appfin, i quit in favour of a eco/law

Why?

1) BORING BORING BORING
2) SHIT TUTORS (In my entire time, all had a fobby accent)
3) UNSOCIAL CLASSMATES (this is disputable)
4) YOU LOSE FAITH EASILY

sounds sexy, but getting there is a different matter

I have had David Westcott and Chris Searchfield for my 1st year acccg/appfin, i had trouble staying awake in their lectures.


You have no idea how it feels to work through an entire worksheet and it doesnt balance.....

 

[Skittled]

Survival of the fittest... in more sense than one.

Survival of the most-money[market-for-corporate-control]-and-political-string-pulling, more like.
But, ideals are great... like "Liberty" translating into "guns for all" into school/uni shootings.
Wow. I'm bitter, tonight!

It has just occurred to me that maybe I should try to place myself to work for/with private equity firms in the future...big growth in this area me thinks. Anyone knows/heard much this?

Heard they (they being private equity peoples) come in peaks and troughs... this happens to be a peak. Corporate raiders of the '80s was another peak, just with the winds blowing a different way. According to my trusty SMH, their activity levels depend on the economic conditions... which ones, specifically, have no idea. Soemthing to do with low interest rates (Japan and her interest rates were mentioned more than a few times). Seems like they'd be a good job if you were in the right place at the right time, doing the right things...

Then again, being a shareholder under those same circumstances would be rather desirable, too!

I have had David Westcott and Chris Searchfield for my 1st year acccg/appfin, i had trouble staying awake in their lectures.
You have no idea how it feels to work through an entire worksheet and it doesnt balance.....

C'mon... Wescott was great (acst101). He even had Style. And Flare with a capital F.
...and judging by my performances in accounting/fin you could only guess I didn't know that they were even meant to balance.

Ahem. We're totally stealing this thread, guys.

 

[redruM]

Heard they (they being private equity peoples) come in peaks and troughs... this happens to be a peak. Corporate raiders of the '80s was another peak, just with the winds blowing a different way. According to my trusty SMH, their activity levels depend on the economic conditions... which ones, specifically, have no idea. Soemthing to do with low interest rates (Japan and her interest rates were mentioned more than a few times). Seems like they'd be a good job if you were in the right place at the right time, doing the right things...

hahah reminds me of the movie Pi

 

[cutiebabyforeva]

Ahem. We're totally stealing this thread, guys.

Lol yes you are but it's all good, at least it's bumpin the thread up more

Hehe uni sounds interesting. A lot of work but should be good

 

[Skittled]

Lol yes you are but it's all good, at least it's bumpin the thread up more

Sorry.

Hehe uni sounds interesting. A lot of work but should be good

Having been employed in the registrar's department (people who handle admissions) at MQ, one word of advice that it all comes down to: do what you'd enjoy, not what you think you "should" be doing.

(That said, you can always change... but the above is something to aim for )

 

[maka]

I find the BBA to be very beneficial in the fact that it allows you the opportunity to sample all areas of the business from Accounting, Finance, Stats, Economics, Marketing and Management etc. That way you dont really get typecasted as simply an 'Accounting student' or 'Management student' which I tend to think becomes advantageous in the job market as employees can see a range of skills in different disciplines.

However, like others have said, whilst your breadth of knowledge is increased, if you have a specified area that you want to work in, you reduce your depth of knowledge in that area.

Really as others did say, the guide behind what degree you choose to do should be what you enjoy and what you think you would be good at. No point choosing degree X just because someone wants you to do it.

 

[Monstar]

After 1 year of appfin, i quit in favour of a eco/law

Why?

1) BORING BORING BORING
2) SHIT TUTORS (In my entire time, all had a fobby accent)
3) UNSOCIAL CLASSMATES (this is disputable)
4) YOU LOSE FAITH EASILY

sounds sexy, but getting there is a different matter

I have had David Westcott and Chris Searchfield for my 1st year acccg/appfin, i had trouble staying awake in their lectures.


You have no idea how it feels to work through an entire worksheet and it doesnt balance.....

I thought they discontinued BEco/BLaw