Accounting involves everything from the recording of a single financial transaction to the creation of financial statements and the reconciliation of accounts. While studying accounting, you will learn the basic concepts and principles that apply to the entire discipline. Also, you will learn more specific areas of accounting, which include cost accounting, managerial accounting, tax accounting and auditing.
Cost accounting consists of product costing and cost systems. Managerial accounting is geared towards directing, planning and managing financial systems. Tax accounting involves the application of tax laws to finances at the local, state and/or federal level. Finally, auditing involves examining financial records to ensure compliance with rules, regulations and local, state and federal laws.
When you major in general business as part of a business administration degree, you will learn about all aspects and majors within the field. This concentration touches on basic concepts within accounting, finance, computer information systems, economics, management, and marketing. Although more complex concepts within each concentration also may be explored, this major is designed to give students knowledge of business administration in general (hence, its name). Even if you choose to major in a concentration other than general business, all concentrations examine all areas within business. However, you'll learn more advanced concepts within your chosen subject area.
03Computer Information Systems
The study of computer information systems consists of the creation and maintenance of computerized business systems within an organization. You'll learn a computer language and the basics of computer programming and design. This major emphasizes business analysis and how businesses rely upon their computer systems.
To properly design and implement a successful computerized business system, you need to understand what the specific business needs, and you accomplish this through an analysis of the business and goals. Once business needs are assessed, programs and databases are created to fit the needs of the organization. A more advanced element studied in this particular concentration is the creation and managing of communication within and between differing systems, and the creation of security measures to ensure the safe-keeping of all data stored.
Economics involves the study of microeconomic and macroeconomic principles and theories. Microeconomics views the economy through the study of individual consumers and firms. Macroeconomics views the economy as a whole. Economics looks at supply and demand forces, the spending of individuals within the economy, pricing strategies, and employment issues.
The concentration of finance consists of the study of investments, portfolios, markets and the valuation of firms and organizations. While studying investments, you will learn about researching investments and companies, buying and selling securities, and how to determine the risk associated with individual investments. After acquiring the basics, you will study strategies, options, and trades. Also, you will learn how to financially assess a company in its current state and estimate its future value.
The study of management involves acquiring knowledge of all aspects of a company, from the initial concept for the company to its establishment and beyond. You will learn how to take an original entrepreneurial idea and research markets, determine market entry constraints and determine future sustainability. Additionally, you will study how to operate and manage organizations of all sizes. Within the field of management, you may choose to specialize even further by studying human resources management. Human resources management includes every aspect of managing employees, such as hiring, firing, career development, discipline, rewards, benefits, and pay.
Within the study of business, management and marketing tend to go hand in hand. Specifically, marketing is concentrated on the advertising and promotion of a company to ensure success and sustainability. While studying marketing, you will learn about markets and consumer behaviors and habits. You will learn how to assess consumer behaviors and analyze markets. Once you have acquired the basics, you will learn marketing strategies, sales forecasting and how to strategically market goods and services.
Areas of Concentration for Business Administration Degrees
If you are interested in working in the public sector but don't want to earn a public administration degree, then a degree in business administration may be a good option for you.
While working toward a degree in business administration, you will gain a general understanding of all areas within that overall subject, such as accounting and marketing. Meanwhile, you'll also focus on a particular subject, or concentration, within business administration.
The knowledge you gain while studying for a degree in business administration can be used in the public sector since all these areas of study are important parts of public sector administration.