Fri. Sep 30th, 2022

The term “accounting” is used to describe the method of recording and reporting financial transactions in an organized manner. It is a combination of economics and mathematics, with a focus on the financial aspects of business activities.

The word “law,” on the other hand, refers to a body of legal rules that govern how people interact with each other in society. It includes criminal law, civil law, administrative law, constitutional law, and family law among others.

Law degrees demand a lot of dedication and effort however if one can keep up their commitment and a strong sense of justice, they are respected in their society and able to affect the change they wished to see in the world.

A final piece of advice: passing the law school’s writing exam is required for admission. If you need help with your law assignment, you can contact Law Assignment Writing Service. They have a great reputation for being excellent writers.

Difference between law and accounting

Both the governmental and private sectors are open to employment for accountants and lawyers. While both sorts of professionals can assist companies and individuals with business-related issues, their areas of expertise are quite different. While accountants deal with statistics and tax laws, attorneys deal with legal issues and legal procedures.

This essay will outline the distinctions between a profession in law and one in accounting. Both vocations offer significant advantages and disadvantages and which is advantageous for foreign students in the UK

Law vs. Accounting

Accountancy is the study of bookkeeping, accounting, and auditing and it is a career that requires attention to detail, accuracy, efficiency, and accuracy. It is required to have an understanding of business and finance. Bookkeeping involves recording financial transactions in such a way that they can be easily understood by people.

For one to pursue a career in accounting they need a degree and during the course, they have to gather information and write a report about it. Due to a lack of writing skills, many students fail in writing, so they seek online help from Accounting Assignment Help. They assist students with all types of writing assignments.

Lawyers are in charge of looking after your rights as well as helping you deal with legal issues. They look after your interests by ensuring that everything is done correctly from your point of view. They write contracts, letters, wills, etc., which help you get what you want from life.

Resolve issues

Accounting is concerned with the recording and reporting of information related to assets, liabilities, income, expenses, and equity. The purpose of accounting is to provide historical information about an organization’s assets, liabilities, owners’ equity, and performance for internal use by management.

The law deals with the interpretation of legal issues and how to apply them to particular cases. Law determines how people should behave based on certain factors such as their age, and nationality. Law also determines what actions are prohibited or allowed under certain circumstances.

Salary comparison

According to the same source, the median annual wage for accountants is $71,500, and the bottom 25% of accountants earn between $42,000 and $44,000.

Statistics claim that the median annual pay for attorneys is a little over $122,000. The lowest 25% of lawyers earn $80,000 annually, while the top 25% earn $186,000 a year.

In addition, a lawyer could earn more money than the majority of accountants. According to this statement, successful and elite lawyers can earn more money on average than successful and elite accountants, including CPAs. If a partner in a law company has savvy commercial skills, they could earn millions of dollars.

Profession

Compared to law, accounting is a more reliable profession. In addition, accounting does not experience as many graduates quitting their jobs after graduation as the law does. And there are more opportunities in accounting than in law.

Accountants may offer their clients accounting-related advice

CPAs who are accountants frequently advise their clients on a variety of accounting and financial issues in addition to simply recording transactions (bookkeeping).

CPAs frequently assist customers with their financial concerns by determining what has to be done to make their position better. The work of accountants and lawyers differs greatly.

Attorneys typically deal with people, their situations, problem-solving, and interpreting complex legal texts, which is why there is a difference between the practice of law and that of accounting.

An accountant, as opposed to a lawyer, spends their entire workday dealing with numbers, calculations, ledgers, and financial reports rather than people and their issues. And that is a key distinction between the practice of law and accounting.

The challenging legal job market

For rookie attorneys, finding employment is difficult. Young attorneys frequently struggle to find employment. Either they attempt to create a solo law practice or they decide to change careers. These attorneys are not counted in statistics either.

Simply by providing more employment options, in theory, accountants earn more money than aspiring lawyers. With jobs, at least, they are better off.

Which Degree is Beneficial for International Students in the UK?

The UK is among the most popular destinations for international students. The country has a rich history and culture, which attract people from all over the world.

Students from different countries come to the UK for different reasons and motives. Some of them are there for higher education, others for working purposes. However, one thing that they all have in common is their desire to study at one of the best universities in the UK.

There are two major degrees that you can opt for if you want to study at a university in the UK: Accounting and Law. These two degrees will provide you with different career opportunities and experiences after getting your degree.

Accountancy is a popular career choice for international students in the UK. The UK government has introduced the International Recruitment of Accounting Professionals (IRAP) program which is designed to help overseas students from outside the European Economic Area gain access to higher education at the undergraduate level. The program offers top-quality legal training and a guaranteed pathway into the profession. Students will be taught by qualified accountants and have access to an on-site training facility with leading firms where they can develop their skills and experience.

Law degrees are also in high demand with over 95% of lawyers employed within 12 months after graduation. This field has become even more competitive since Brexit due to the challenging legal environment created by leaving the EU.

 

Conclusion

Therefore, both degrees have their advantages, but accounting provides more career opportunities as students can work in HR, as an accountant, as a manager, etc., so most people find accounting more beneficial than law.

 

 

 

References

Carter, S. DP. 2020. 15 Famous Graduates from Law School. Online Available at:

dissertationproposal.co.uk/list/15-famous-graduates-from-law-school/ (Accessed: 21 august 2022).

McIntyre, F. and Simkovic, M., 2018. Value of a Law Degree by College Major. J. Legal Educ.68, p.585.

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