Accountant vs. Bursar — What's the Difference?
By Maham Liaqat & Urooj Arif — Updated on February 24, 2024
An accountant manages financial records and ensures accuracy in transactions, while a bursar specifically handles the financial affairs of educational institutions.
Difference Between Accountant and Bursar
Table of Contents
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Key Differences
An accountant is a professional responsible for maintaining and interpreting financial records, often involved in budgeting, auditing, and tax preparation across various sectors. In contrast, a bursar is a specialized role within educational institutions, focusing on managing tuition fees, providing financial assistance, and overseeing billing and payments for students.
Accountants play a crucial role in businesses, government agencies, and non-profits by ensuring financial compliance, efficiency, and transparency. Their expertise is broad, covering financial reporting, analysis, and strategic planning. Bursars, however, are deeply integrated into the educational ecosystem, serving as the financial linchpin for colleges and universities, ensuring that students' financial transactions are handled smoothly and that institutional funds are properly accounted for.
The scope of an accountant's work can vary widely, from individual tax preparation to corporate financial management, requiring a deep understanding of accounting principles and financial regulations. Bursars, while also knowledgeable in these areas, apply their skills within the specific context of education, dealing with scholarships, financial aid, and student accounts.
Certification and education paths for these roles also differ. Accountants, particularly Certified Public Accountants (CPAs), undergo rigorous training and certification processes. Bursars may not require such specific certifications but typically need a strong background in finance or accounting, with an emphasis on the nuances of educational finance.
While both accountants and bursars are integral to financial management, their roles diverge significantly in focus, setting, and day-to-day responsibilities. An accountant's broad financial expertise is applicable across many industries, whereas a bursar's role is tailored to the financial intricacies of educational environments.
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Comparison Chart
Primary Role
Manages and interprets financial records
Oversees financial operations in educational institutions
Key Responsibilities
Tax preparation, auditing, financial planning
Managing tuition fees, student billing, financial assistance
Work Environment
Diverse sectors (business, government, non-profit)
Educational institutions (colleges, universities)
Required Skills
Accounting principles, financial analysis
Financial management, knowledge of educational finance
Certification
CPA for advanced roles
Not typically required, but finance-related education is
Compare with Definitions
Accountant
Manages financial records to ensure accuracy and compliance.
The accountant finalized the company's tax returns.
Bursar
Manages student financial accounts in educational institutions.
The bursar sent out tuition bills for the upcoming semester.
Accountant
Works across various sectors, adapting to different financial landscapes.
As an accountant, she specialized in non-profit finances.
Bursar
Oversees the collection of tuition fees and other charges.
She worked with the bursar to set up a payment plan.
Accountant
Provides financial analysis and strategic planning advice.
The accountant presented a cost-saving strategy to management.
Bursar
Provides financial assistance information to students.
The bursar's office helps students understand their loan options.
Accountant
Plays a key role in auditing and financial reporting.
The accountant discovered discrepancies during the audit.
Bursar
Ensures financial operations align with educational policies.
The bursar updated the scholarship funding process.
Accountant
Often pursues CPA certification for career advancement.
He became a CPA after years of working as an accountant.
Bursar
Works closely with students and faculty on financial matters.
The bursar explained the new billing system at the faculty meeting.
Accountant
A reckoner, or someone who maintains financial matters for a person(s).
Bursar
The treasurer of a university, college or school.
Accountant
An accountant is a practitioner of accounting or accountancy. Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant, or Registered Public Accountant.
Bursar
A bursar (derived from "bursa", Latin for purse) is a professional financial administrator in a school or university. In the United States, bursars usually exist only at the level of higher education (four-year colleges and universities) or at private secondary schools.
Accountant
One that keeps, audits, and inspects the financial records of individuals or business concerns and prepares financial and tax reports.
Bursar
An official in charge of funds, as at a college or university; a treasurer.
Accountant
(accounting) One who is skilled in, keeps, or adjusts, accounts; an officer in a public office, who has charge of the accounts.
Bursar
A student funded by a bursary.
Accountant
(accounting) One whose profession includes organizing, maintaining and auditing the records of another. The records are usually, but not always, financial records.
Bursar
A treasurer, or cash keeper; a purser; as, the bursar of a college, or of a monastery.
Accountant
One who is skilled in, keeps, or adjusts, accounts; an officer in a public office, who has charge of the accounts.
Bursar
A student to whom a stipend or bursary is paid for his complete or partial support.
Accountant
Someone who maintains and audits business accounts
Bursar
The treasurer at a college or university
Common Curiosities
What qualifications are needed to become an accountant?
Typically, a bachelor's degree in accounting or a related field; CPA certification is highly valued for certain roles.
What's the difference between a bursar and a financial aid officer?
A bursar manages billing and payments, while a financial aid officer focuses on helping students secure financial aid.
Is accounting a stressful job?
It can be, especially during busy periods like tax season or end-of-year closing, but it varies by role and industry.
Can a bursar help with student loans?
Yes, bursars can provide information and assistance regarding student loans and financial aid.
Do bursars work during the summer?
Yes, bursars work year-round, managing financial matters for summer sessions and preparing for the new academic year.
Do accountants need to be good at math?
Strong math skills are important, but accountants also rely heavily on software and analytical skills.
Are bursars involved in setting tuition rates?
Bursars may provide input, but tuition rates are typically set by the institution's governing board.
What's a common misconception about accountants?
That their work is solely number-crunching; in reality, it involves strategic planning and analysis.
How does one become a bursar?
Through experience in finance or accounting, often within an educational setting, and relevant education.
What software do accountants typically use?
Software like QuickBooks, Microsoft Excel, and specialized accounting software.
Can accountants work from home?
Many accounting tasks can be done remotely, though it depends on the employer's policies and the nature of the work.
Do accountants have a busy season?
Yes, particularly during tax season (early January to April) and at fiscal year-ends.
What is the biggest challenge for a bursar?
Managing the complexities of student accounts and staying updated with educational finance regulations.
Is there a certification for bursars?
Not specifically, but related finance or accounting certifications can be beneficial.
Can bursars make financial decisions for a school?
They can advise on financial matters, but major decisions are usually made by higher administration.
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Written by
Maham Liaqat
Co-written by
Urooj ArifUrooj is a skilled content writer at Ask Difference, known for her exceptional ability to simplify complex topics into engaging and informative content. With a passion for research and a flair for clear, concise writing, she consistently delivers articles that resonate with our diverse audience.
