While earning a Bachelor of Science in Business Administration (BSBA), you will have the opportunity to study core business topics while exploring electives that align with your personal interests. This can include everything from fine arts to computer competency, though most of your schedule will be devoted to foundation business courses.
Of these foundation courses, accounting, finance and economics are the most vital. No matter what field or industry you intend to enter upon graduation — whether you plan on running your own business or joining an established company — a solid understanding of these subjects is necessary.
The BSBA degree includes two required foundational courses in accounting: Financial Accounting and Managerial Accounting. Financial Accounting focuses on knowledge required for completion of the accounting cycle, including income measurement and financial statement preparation. This course also covers accounting for current and planned assets, current and long-term liabilities, stockholder equity, and cash flows.
The subsequent class, Managerial Accounting, teaches the principles and methods of accounting primarily concerned with data gathering and presentation for purposes of evaluation and decision-making by management.
If numbers are a particular area of interest for you, obtaining additional licensing, certification and registration to become an accountant could result in a lucrative career for you. The median yearly pay for accountants in 2015 was $67,190, with jobs in the field expected to grow 11 percent by 2024.
Careers in finance are a natural fit for BSBA degree holders, whether it means becoming a financial analyst, financial manager or chief financial officer. The foundation courses Business Finance and Money and Banking can help prepare you through the study of both private businesses and commercial banks.
Business Finance looks at how finance functions within a business enterprise: techniques of financial management, concepts of capital structure and dividend policy, working capital management, and capital budgeting, as well as the institutional and international environment of the firm.
Money and Banking examines the role of the central bank, commercial banks and other financial institutions in the performance of the economy. You’ll learn how money and fiscal policy relate to prices, production and employment. This course also covers the internal and external effects of U.S. fiscal and monetary policy.
If you find accounting interesting but desire a different challenge, you can transition into the role of financial manager after gaining significant work experience. The median salary for financial managers is $117,990 per year.
To understand the fundamentals of business, you must have a firm grasp of economics.
Principles of Microeconomics is a core course that covers basic economics, theories of production, determination of prices in regulated and unregulated industries, functional distribution, international economics, and problems of economic development.
Principles of Macroeconomics, the second core course, presents an introductory study of the nature of economics, economic concepts and problems, economic systems, and the role of government. Accounting, the analytical and policy aspects of national income and product, and the money and banking system receive special emphasis in this course.
An aptitude for economics could lead to a role as a compensation and benefits manager (someone who analyzes labor trends and assesses supply and demand for various classes of jobs) or actuary (uses mathematics and statistical skills to determine the likelihood of insurable events like fires, deaths, illnesses and business failures). Both earn salaries in the $95,000-$100,000 range.
With these accounting, finance and economics courses providing a solid base as you earn a Bachelor of Science in Business Administration, you can go on to explore other areas of study to further complement your degree and prepare yourself for your chosen career.
Learn more about the online Louisiana State University of Alexandria BSBA program.
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