Gbadagba: Banks as you asked need both economist and account,Because in Bank organization there a enough work for accountant and there is one for economist as well.In Nigeria what we need is a divisions of labour plz.

Everyone is just talking. The obvious truth is that a bank is a system that encompases an economist, investment and financial analyst, an accountant, a business administrator, and a Credit profesional. They all work together and anyone can lead but d least to lead is an accountant. But we should not forget that we have a banker who is exposed to all of this.. My take

The two extremes in this discourse are irrelevant in the banking system if the individuals have low grasping ability and slow in reponding to challenges and change. All graduates are invited inasmuch as you can pass the recruitment hurdles. Get your CIBN and keep cool. Check out the top fliers in the industry, the are not necessarily economists or accountants but bankers per excellence. The lecturer needs a course on CONFIDENCE BUILDING !

Man90: D work of an accountant in d bank industry is vast unlike dat of an economist, bt an economist has a role 2 play also.

The two extremes in this discourse are irrelevant in the banking system if the individuals have low grasping ability and slow in reponding to challenges and change. All graduates are invited inasmuch as you can pass the recruitment hurdles. Get your CIBN and keep cool. Check out the top fliers in the industry, the are not necessarily economists or accountants but bankers per excellence. The lecturer needs a course on CONFIDENCE BUILDING !

Accountants should not be mistaken for chartered accountants,I do not see much that an economist will render that a chartered account would not.

Female marketers are the most important at least they brin in more cash. Economists are better in public sector while accountants are better in the private sector.

what about a statistician, where does he work or function

Richiez:
what's all these end time tinz talk?

d guy is a big fooooooool

will an economist be able 2do d works of an accountant and do it perfectly? How many departmnt do economists have in a bank, IF its there at all it should be one n in dat one an accountant is there vis a vis MANAGEMENT ACCOUNTANT. n how many do accountants have: TWO-ACCOUNTING/FINANCE and INTERNAL AUDIT DEPT. So an accountant is more important boo.

beatrice webb: Accountants should not be mistaken for chartered accountants,I do not see much that an economist will render that a chartered account would not.

Huh?

Did Chartered Accountants not go through the same courses like Accountants did? My friend, there's no difference other than the designation...One wrote the examination and passed, holds the certification while the other did not. It doesn't mean both cannot perform the same function.

Economists on the other hand perform a whole different stuff than accountants (in general) do. I think it's the other way around: put an economist in an accounting position and he will likely succeed because of the kind of work his exposed to, however put an accountant or chartered whichever one, in the position of a real economist, he's less likely to succeed. Now that's the difference, by default, economics is harder than accounting.

[b][/b][i][/i] Nigerian banki system is not suffering from what ur so called lecture said, both accountant and economist are needed in the banking system,moreover we have poly who don't study anything relating to banking who work in the sector

ksington: what about a statistician, where does he work or function

Helps in research, although not limited to.

manny4life:


Economists on the other hand perform a whole different stuff than accountants (in general) do. I think it's the other way around: put an economist in an accounting position and he will likely succeed because of the kind of work his exposed to, however put an accountant or chartered whichever one, in the position of a real economist, he's less likely to succeed. Now that's the difference, by default, economics is harder than accounting.

BIG TIME RUBBISH!!!

An economist that hasn't been trained in accounting and wants to do the work of an accountant would be the worst flop ever.

An accountant is exposed thoroughly to the field of economics in most exams including the professional, a chartered accountant for example has the ability to do the work of an economist(at least to an extent).

A management accountant usually have the knowledge necessary in reducing cost for an organisation and maximizing profit, although he doesn't take that decision, the managers do.

So i would rather have a financial manager than an economist, a financial manager would go beyond what an economist can do.

Economists are not needed so much because it relates so much to reality, what someone who is rational can do and think of, for example(just an example), i do not need an economist to tell me: the higher the price, the lower the qty dmd or the higher the price the higher the qty supplied, its simple logic. In the macro level, i do not need an economist to tell me introducing too much money into the economy would likely cause inflation, i do not need an economist to tell me i need to undergo contractionary monetary policies like selling securities to the public in order to reduce inflation.

On the other hand, accounting requires professional skill, basic, intermediate and advanced principles, it requires you to be up to date to adopted standards, it require you being smart and able to think critically, it requires you to be calculative in all areas, an institution really needs an accountant but can do without an economist.

By the way, an economist is mainly relevant in advising the government on decisions to take but sorry that's not the case here, okonjo iweala, cbn governor would do that themselves, but in countries like USA, britain, the economists are useful, for example in the economic depression of(i 4got the date), theclassicals, the keynesians, monetarists, supply siders were needed in advising the government on how to overcome the depression, But here in naija, we don't have money to waste on them, our ministers go do am by themselves. Nevertheless i love economics, its useful to an extent.

As for me they are both important to the bank but looking at your lecturer's points (if through), humm he regards accountants as those that only balance books. What a myopic view and your lecturer is indeed foolish as one of the contributor called him. Your lecturer should make thorough research on what the profession entails and their countless functions or less he should start a business without accountant. If i may ask is he a lecturer? ASUU disease

People are criticizing my lecturer here but it seems they did not get the gist.

The lecturer said that jokingly to make us feel the ego that yes we are doing the best course in the world not that he is mal-teaching us but we the students now take it upon ourselves to argue it.

what d banks need s a STATISTICIAN like me

Contrary to popular belief, pple tink if u re gud in maths, then u wud make a gud accountant. Accountin goes beyond d figures. it requires a thorough skill @ analysing nd interpreting. Though economics may be deemed wider dan accountin buh d task of an accountant sums it all.

I think people have little or no knowledge of what economics is all about. Economists use sophisticated analytical tools as seen in econometrics to provide empirical solutions to problems. Most of the tools used by accountants are products of economic analysis. Once you know you are to debit a receiver and credit a giver the rest of the accounting job is done.
The accounting system to be used will have to go through econometrics model testing to prove its applicability and usefulness. if you hold FCA you will understand better.
In a nut shell Accountants are more of technicians and middle level employees while economists are more of problem solvers and policy makers using data generated by other professionals including accountants.
Finally, a lot of economists pass Accounting exams with very minimal difficulty but Accountants struggle to get pass in economics. Check the pass rate per papers in any ICAN diet.