Accounting is the systematic recording, reporting, and analysis of financial transactions. It can be done on a large scale – for international corporations – or for individuals or for any sized business in-between. There are agreed national and international rules and regulations that govern the work of accountants. Accounting allows a company to analyse its financial performance, and report important statistics such as profit and loss to managers and shareholders.
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Economists analyse the production, distribution, and consumption of goods and services. They focus on how individuals, households, firms and governments interact and how economies work. Microeconomics examines the behaviour of buyers and sellers in the economy while macroeconomics analyses the entire economy and issues affecting it, including unemployment, inflation, economic growth, and monetary and fiscal policy.
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If you are interested in a business degree you will probably want, at some point in your career, to move into a management role. Managers plan, organise, lead, and control. Good managers are essential to the successful running of any business no matter what its size.
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Identifying and satisfying customer needs profitably form the basis of marketing. It includes creating, communicating, delivering and exchanging goods and services that have value to potential customers and, often, building strong relationships between an organisation and its customers. It can include market research, product development and communication strategies as well as product delivery logistics.
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