A love of numbers can lead to a lucrative career in various fields. Students that have an interest in numbers may find an accounting program is right for them. Accredited programs can be pursued through several degree and concentration areas.
Completing a degree program in accounting prepares students to step into various careers that involve accounting and finance. Students learn to work with businesses, organizations, individuals, and government groups on their finances. Accounting programs are available to students at the associate’s, bachelor’s, master’s, and doctorate’s degree level. Student’s career goals will determine which degree program to complete. Other possible accounting and finance career preparation programs can include:
Finance and Banking
Several concentration areas like accounting technology, for example, lead to an associate’s degree. Students that want to complete a higher level degree program can continue education inside a graduate accounting program. Corporate finance also awards undergraduate degrees unless students advance their training inside a finance degree program. To complete the right program students should research the industry’s requirements for the careers they are interested in obtaining.
An associate’s degree in accounting examines several key areas of the field at a fundamental level. Accounting, finance, and acquisitions are some main areas covered. The goal of a program is to prepare students to analyze the financial status of a person or group and be able to create documents. Students learn the Generally Accepted Accounting Principles procedures, which helps the transition into the profession. Students can enter careers as general accountants, budget analysts, and loan officers.
To gain the best career options in accounting and finance students should complete graduate degree training. Schooling covers the foundations of accounting more in-depth. Students study risk management, assurance, financial management, taxation, and much more. Master’s degree programs train students to understand business and taxation. Through subjects like advanced auditing, corporate taxation, and financial research students are able to step into multiple careers. Students can enter careers in both the private and government divisions of the industry with a master’s degree. Students that want to enter positions as professors typically complete training at the doctoral level. Tax research and finance analysis are some course topics examined. Possible career options for students that have a graduate degree include risk assessors, corporate executives, financial managers, and auditors.
Students that pursue another area of accounting and finance such as corporate finance will find education to be highly focused. Students that complete a bachelor’s degree program will explore financial reporting, international market, and personal investments. Students learn to work with businesses by providing help with cost management, investment, and market regulation. Upon graduation students can become investment bankers, fraud investigators, stockbrokers, and more. Advanced careers will have to be pursued with a graduate degree in finance.
For those who enjoy the challenge of working with numbers on a daily basis, an accounting finance career is right for you. With the tools that were taught in school, you will be able to help a company or a business run efficiently.
But what is the first step that you have to take? Most companies will require that you graduate with a bachelor’s degree in accountancy, business, economics, math or statistics and also obtain your CPA or Certified Public Accountant’s license.
Given that the job market is very competitive, you will also have to get a master’s degree and be familiar with the latest accounting software around given that most companies use the computer these dates to upgrade records or add new information.
For the most part, accountants do not go out of the office much when everything they have to do is in front of their desk. But if the accounting firm has a client, they will have to leave and perform an audit in the customer’s place of office.
The working hours for most accountants on average are 40 hours a week. However, this gets longer during the tax season and towards the end of the financial year.
Your accounting finance career can go into one of the four major fields. If you want to be a public accountant, you work for corporations, the government, a non profit organization or one person. You can advise the client on tax matters, preparing their income tax returns and offering your consultation services when it comes to running their business.
If the accounting department you are working of is quite big, you are able to specialize for instance simply working on the employee’s compensation and benefits.
Management accountant is another and here, you will be responsible for asset management, budgeting, cost management and performance evaluation of the company. Your analysis of the financial information given to you is needed to help top level executives make strategic business solutions that will affect the company as a whole.
But a vast majority of accountants work in the public sector. They maybe employed on a federal, state or local level and their job is to make sure that all the money collected from the people through the form of taxes is accounted for.
The last option is known as internal auditing. Those who work here check and balance the company or the client they are working for in all facets of the organization so money is never mismanaged or wasted. They also recommend new procedures so incidents of fraud do not occur.
Graduates fresh out of college will not be handling an account or given an assignment on their own. They will be assisting accountants who are more senior to them and then after a year or two, be promoted to that position before becoming a manager or even a partner later on.
During this time, you will be able to specialize in one of the four fields mentioned or shift towards something else. Many professionals have gone from public accounting to internal audit or management accounting. But it is very rare that the opposite occurs.
Finance can simply be defined as “assets and liability management”. It is a vast field that deals with various aspects of deals or transactions involving money. It’s not a new field as it has been around for thousands of years, since the time man started trading; earlier it was the barter system or goods in exchange of goods and then came the monetary system. However, the fundamentals of this field have remained more or less the same even though it has evolved over the ages. We have complex financial structures both in micro and macro levels and so there are a lot of opportunities for people who want to get into finance careers after school.
For being a part of finance careers, one would require a degree that equips graduates with the knowledge and necessary tools to build a successful career in the financial industry. Training programs tend to focus on building a comprehensive understanding of managing finances, laws associated with it, interpersonal skills and professional knowledge of the subject.
A degree in finance would prepare an individual to manage, analyze and plan different financial or monetary aspects related to performance of any organization; these organizations could be in the field of IT, banking, real estate, manufacturing and consulting services etc. This course makes an effort to educate people in accounting principles, financial instruments, planning of capital funds acquisition, asset or debt management, budgeting, analyzing financials and investments in addition to portfolio management.
The courses at the undergraduate or graduate level generally cover areas such as finance, statistics, economics, economic policy and accounting procedures, analysis, financial companies and budgeting methods.
Graduates with a bachelor’s degree in finance are eligible for a wide range of finance-related careers in private businesses, public bodies and non-profit organizations. Most people in this industry work in areas such as commercial banks, corporations and MNCs, investment banking, money management, insurance and real estate.
Tasks or activities associated with this profession:
1) Designing and operating policies and procedures of organizations.
2) Taking decisions on the operational capital of the company, ensuring that each of its departments have the financial means necessary for it to function properly.
3) Analyzing new business opportunities and their financial feasibility.
4) Managing the process of obtaining capital for new ventures.
Thus finance careers can be both challenging and fulfilling and many people find it as a lucrative option. It could also be the key to economic stability as professionals in this field are paid well.
Corporate finance careers can be very challenging work, just like all finance jobs can be. You will have many responsibilities to the organization you work for. The company might be local or international that wants to get in the global market. There are some benefits in this type of career.
The income you can make can be a substantial amount. There usually are many opportunities for travel. If you like to work as a team with people then this is a benefit as well. There can be joyfulness for solving financial issues that are important and relevant.
Responsibilities For Corporation Finance Careers
Some of the responsibilities might include putting acquisitions together, get the funds needed to expand and support operations of business, manage the resources of cash, and helping to be sure there is economic stability for the future. There are also many options for you to choose from in this career.
Treasurer, credit manager, financial analysts, cash management, real estate officer, benefits officer, controller or an investor relations officer. These are just some of the opportunities, so you can see there is a wide variety.
Thoughts To Consider
Some of the things you might want to consider before pursuing this career is if you are proficient in certain aspects. You will need to be able to handle change well, and be an excellent communicator. You should be able to be a leader, do stuff without having to be told. A great plus is if you can speak different languages.
There are many companies that have business internationally. Definitely be a people person. You need to have excellent people skills. Building up relationships on all levels can be your key to success. Having the understanding in the techniques and models of risk management. Be dependable and you perform at your highest. You should also be good at negotiating.
You should bring with you a perspective that is fresh and think strategically. Understand the value of the shareholders. You will be part of a team that connects the company to investors. This is just to give you a small idea of what a career in corporate finance involves. There is more information on the internet that you can research and decide if this is a right career move for you.