회계 상단 이미지


Accounting mainly consists of two fields: Management Accounting and Financial Accounting. Management Accounting focuses on meeting internal corporate demands for information. Financial Accounting focuses on meeting external demands for information by stockholders and creditors. In short, accounting helps involved parties make appropriate decision by generating information related to the present conditions and activities of a company. Both Management and Financial Accounting fundamentally focus on helping the person concerned to make effective decisions and to efficiently allocate resources.p>

As capital and finance markets develop, the role of management accounting becomes more complicated and more important than ever. Due to complicated research, related to the production environment and competitive marketing environment, companies need to understand competitive opportunities and threat factors. Therefore, more and more companies acknowledge the importance of management accounting that enables effective R&D, production, marketing, and strategic personal management.

Business Administration majors should recognize that enhancing their accounting knowledge is fundamental to their success. Basic evaluation of stocks, bonds, and derivatives demand that a manager should understand how accounting information is generated and interpreted. Students who are interested in management and accounting need to work hard to deepen their knowledge of accounting to be leaders with and understanding of financial reporting.

In this competitive world, value management is increasingly important. For value management, it is important to make decisions based on an understanding possibilities generated from production, and R&D to marketing and distribution. Strategists and managers in every field recognize the need to improve their understanding of management accounting and its applications.

Contents to learn

Accounting is a fundamental field in business administration. Generally, accounting is considered the 'language of business', and good knowledge of accounting is an essential element of any management program. All students in Ewha's business school are recommended to take courses including Principles of Accounting Information, Cost/Management Accounting, and Intermediate AccountingⅠ. Financial Accounting develops the ability to foresee results and the future value of a company through the analysis of financial statements. Since the financial information environment is complicated, it is necessary to take Intermediate AccountingⅠ. In Strategic Management Accounting, students learn to evaluate achievements of value contributions from each activity in a company, its products, and various alternatives more specifically. Students develop their ability to analyse and applying accounting information to make decisions in different situations.

This ability is the cornerstone of business administration, marketing, personnel affairs, and strategic planning. Students who want to work in the financing field should take additional courses, including Intermediate Accounting Ⅱ, Financial Statement Analysis, and Advanced Accounting. Students who want to be core experts in business administration need to study the characteristics and functioning principles of company operations in depth in order to improve their ability to exercise business administration and to make decisions in various situation.

Managerial Accounting, Management Control, and Auditing courses are ideally suited to the needs of these students. Students preparing for the CPA or AICPA exams, or who want to be accounting experts, can take Tax Accounting, and Accounting Theory courses in addition to the courses mentioned above.

Society advance field

Accounting students can work as professional accountants in every organization including private enterprises, public enterprises, and government institutions. These days, the ratio of accounting majors among CFOs (Chief Financial Officers) and CEOs (Chief Executive Officers) is increasing. More and more people understand that having a knowledge of accounting is essential to marketing, personnel affairs, and production operations. It is also necessary to study accounting to prepare for work as managers in strategic planning and administrative posts, or consultants.

Professional accountants are financial analysts, CPAs (Certified Public Accountants), and licensed tax accountants. There is great demand for accounting majors in various fields, including investment banking, banking, securities companies, insurance companies,private equity funds, and hedge funds. Accounting majors have more opportunities to persue self-improvement and to secure additional opportunities. Especially, as mergers and acquisitions are actively increasing and more investment products are developed,the future for accounting majors as value assessment experts and investment specialists is bright.