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.
Getting a college degree and your license can open a lot of doors to get you started on your accounting finance career. So, if you want to pursue this, it is yours for the taking.