TABLE OF CONTENTS
Executive Summary……………………………………………………………………………………….
Introduction……………………………………………………………………………………………………
Career Salary Comparison Accounting Salary………………………………………………………………………………………………………………………… Financial Analyst Salary……………………………………………………………………………………………………………….
Career Skills Comparison Accounting Skills……………………………………………………………………………………………………………………….. Financial Analyst Skills………………………………………………………………………………………………………………..
Career Growth Comparison Accounting Jobs Forecast…………………………………………………………………………………………………………….. Financial Analyst Job Forecast………………………………………………………………………………………………………
Work – Life Balance Accounting Career………………………………………………………………………………………………………………………… Financial
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I chose Finance as my major in college mainly because it is wider aspect than Accounting. An Accountant prepares the company financial paper while a financial Analyst analyze the statement prepare by the Accountant.
In the future, I wish to further my studies by gaining my master in Finance. In addition, it is my utmost desire to work in the Banking Sector either as an Accountant or a Financial Analyst. The purpose of this paper is to analyze the Accounting and Financial Career. Which one pays better? The skills of Each Career, The growth of each career and the work – life balance of an Accounting and Financial Career.
The Bureau of Labor Statistics Occupational outlook handbook reveals that a Financial Analyst is paid better than an Accountant. Also according to Rasmussen college website a career in Finance requires more skills than an Accounting. However, according to O*Net there will be more jobs available in the future for an Accountant than a Financial Analyst. The most important element that matters to me in making a decision is the work-Life balance and a career in Accounting would allow me to have sufficient time to spend with my family.
Accountant
In order to land a job as an accountant an applicant need at least a Bachelor degree. However, according to the Occupation Outlook hand book some employers only hire person that a Master’s degree in Accounting (2014). An Accountant
However, with a degree in accounting, there are many career options one can take. For example, one can pursue a job as a Financial Accountant. As a Financial Accountant, the job can consist of preparing financial statement, or running spreadsheets. On the contrary, accounting major can also acquire a license as a Certified Public Accountant (CPA). This will allow them to work as an auditor, tax compliance, estate and financial planner. The texts I have selected were written by and for Business majors and all have a common structure and
On Sophomore Career Day I got the opportunity to better comprehend the accounting aspect and how it connect to a variety of career for instance real estate, supply chain management, and even leadership coaching. Accountancy is a great portion of a business because if it is based on numbers and rules that determine if a business is in line. I have been told that accounting is the safest routine in business because they will always be needed. Throughout the presentation I got to learn the insight of what it really means to be an accountant in distinct careers.
Being an accountant not only involves measuring financial information and communicating to others, which constitutes making financial statements and their accompanying notes, but many routine professional tasks require an accountant to exercise writing skills.
She recommends if you are looking for a prestigious career with great growth potential to match your luxurious lifestyle, accounting is the discipline to take you there. If it's a respected and highly recognized field, accounting is the clear path to
Training in accountancy puts you in a perfect position to understand fiscal strength and financial management. This allows you to avoid the pitfalls that many entrepreneurs seem to run into when they begin their business. If you're the type of person with million-dollar ideas, an accounting degree might be just what you need to get those ideas out there.
As I did my research for both careers, I found that in the field of accounting you can get a job with any degree of education. However, it is recommended that
There is no truer saying than that money makes the world go ‘round. Money is an essential factor for both the individual and the community. Money is the thing that decides whether a person is successful or not. Money is power, and accountants are those who are responsible for determining an organisations financial stability and overall wealth, and it is them who lay the foundation upon which minor and major decisions for an organisation can be made. I have not chosen this career path from my avarice, I simply wish to be one of these people. Someone who is essential to any economy, in any business, anywhere.
There are two main fields you can go into. The first is financial accounting. Financial accounting focuses on the external users. This includes stockholders, agencies, suppliers, and creditors. When they prepare their reports such as the income statement and the balance sheet, they focus on the business as a whole. Managerial accounting serves internal users.
Auditors intensely study the records and reports of a business. Auditors help ensure enterprises are running efficiently by ensuring records are accurate, also make sure taxes are paid on time. If you are a dirty business or have bad accounting books then an auditor will not be your friend. Forensic accountants often use their auditing and investigation skills to assist the court with cases. Forensic accountants deal with white-collar crimes such as securities fraud, embezzlement and bankruptcies. A lot of the times forensic accountants will be working on cases like the Ponzi scheme Bernie Madoff pulled off. A Ponzi scheme is where other investors pay returns on someone’s investment.
Accountants produce financial statements that allow business owners to make important decisions. Accountants at Kreischer Miller offer advice and support so their clients can “plan, think, and act,” before the client's competition does (“Working With Us,” 2015). Every type of business needs to have accounting in order to be successful. The ultimate draw of this career is that there is always a demand for
This explains that the company not only incorporates profit and growth making strategies, but are also committed towards its community showing professionalism and wellbeing. As a result, getting the opportunity to gain a profile in accounting field of KPMG will help increase my professional skills and help achieve the long-term objectives. These personal objectives that can be achieved includes being able to assist the community that I am a part of and always be out for those who require the need. Additionally, having the flexibility to perform professionally outside the office is a personal attribute that allows me to get a sense of achievement, and build on my working skills and enrich
One of the major careers being practiced today is accountancy. Thousands of people are completing their degrees in accounting because there seems to be a bright future for accountants with the appropriate qualifications. Accountants, in their career, help ensure that the organizations are running more efficiently, public records are kept more accurately, and taxes are paid properly and on time. They perform important functions by offering a wide volume of business and accounting services to their clients. Accounting career paths vary and this is why many times one has to consider the path that they want to take. After graduating, with an accounting degree, most people do not have a specific idea of what sector to
Modern accounting includes two major fields: personal accounting and corporate accounting. Personal and corporate accounting is usually similar. In 2012, an estimated 1.4 million people were working in these fields, and both are expected to grow by 17% by 2022 (Career Info Net). Difference between personal and corporate accounting include location, pay, and for what company. Personal accounting is normally performed in small towns and communities for local businesses and residents. Salary is dependent on location. An average annual salary is $58,000 (Indeed). Corporate accounting is generally performed in government buildings and law firms. An average annual salary is $69,000. The highest accounting position is a Certified Public Accountant. The average annual salary, depending on experience, is around $346,322, while average accountants will only earn about $293,451 (Becker
Accounting is not one of those jobs that may lose its importance over the period of time. This is one of the careers that are always in demand, even in the times of economic crisis. An accountant is required in every firm, educational body or government organization to manage the finances. Many find it to be a not so glamorous career choice, which is actually a fact, but if you are looking for a stable career, you should keep it to be a prior choice.
In today’s society, people cannot imagine life without technology. Technology has made life easier and has enabled individuals to do extraordinary things that were not possible in the past. As of right now my future major and career is in the accounting industry. Accounting has gone through many changes throughout the years. There are changes with technology, new regulations and standards, and the uncertainty of the economic market that may affect the accounting industry. The advancements of technology have been one of the biggest changes around the world, and it is also affecting the accounting world today. Future technologies will change the way accountants do their job, just like it has in the previous years. As the years pass, we will advance in the electronic field and the accounting industry will continue to advance with us. Modern technology is taking over traditional ways in accounting and is changing it for the better. New technologies and regulations will affect the future of accounting in a positive way by making the job easier with less room for error and by giving more communication opportunities and better time management.