What is accounting?

Accounting is the process by which financial information about a business, organization or individual is
recorded, classified, summarized, interpreted and communicated. Drawing from fields such as
information technology, law, statistics, business and economics, accounting is a multidisciplinary subject
that focuses on an organization or individual’s economic activities.

Accounting students will gain advanced theoretical and practical knowledge of accounting and finance;
master computational and calculation skills and techniques used in professional accounting practice;
learn how to use specialized accounting software (such as CIMA Sage, which may allow you to gain an
official CIMA Sage user’s certificate); and gain a broad understanding of the accounting, finance and
commercial sectors, often within an international context.

Types of accounting degrees

here are many different types of accounting degrees, with undergraduate-level titles such as Bachelor of
Accountancy or Bachelors in Accounting. The specialized Bachelor of Accountancy (BAcy, BAcc or
BAccty) in the US is often the only undergraduate degree recognized in the country for subsequent
practice as a professional accountant – in that respect, it works as a first professional degree.

Elsewhere, accounting degrees may be offered as a Bachelor of Arts (BA) in Accounting, or as a Bachelor
of Science (BSc) in Accounting (also abbreviated as BS/ACC). Meanwhile, South Africa offers
undergraduate accounting degrees titled Bachelor of Accounting Science (BAccSci) and Baccalaureus
Computationis (BCompt).

While many universities offer undergraduate degrees with a sole focus on accounting, it’s also common
to find accounting offered alongside other subjects (most commonly finance, economics or business
management) in a joint-degree format. There are also general business degrees with a focus on
accounting such as the Bachelor of Business Administration (BBA) in Accounting and the Bachelor of
Commerce (BCom) in Accounting.

Most accounting degrees are accredited by a relevant professional body for accountants at the national
level. Examples include the UK-based Association of Chartered and Certified Accountants, Institute of
Financial Accountants and Chartered Institute of Management Accountants, and the American Institute
of Certified Public Accountants based in the US. Studying an accredited degree allows graduates to apply
to the relevant body for exemptions from certain exams once they start working towards chartered
accountant status.