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Careers and Prospects in Accounting and Finance

Posted Sep 15 2009 3:58am
Do you enjoy the challenge of working with numbers on a daily basis? Then 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.

What is a CPA - CPA is the statutory title of qualified accountants who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA.

Primary Function of a CPA - CPA can attest to the validity of financial information. This means that they can audit financial statements and report on whether they are accurate or not. Certified Public Accountant (CPA) are licensed by law.A CPA attest to the reasonableness of disclosures, the freedom from material misstatement, and the adherence to the applicable generally accepted accounting principles (GAAP) in financial statements.

Career Opportunities in Accounting and Finance - Career opportunities in accounting and finance are endless. You can earn a degree in accounting and become a general accountant, but this is just one of the options you can follow. Some of things that you can get into include actuaries, auditing, banking, chartered accounting, corporate finance, corporate recovery, stock broking and taxation management. There are also specialist areas you can pursue, such as auditing, management policy and taxation.

If you have either a CPA or CA license with you, it is possible for you to work for a large firm that has offices both here and abroad. Given that every company needs ones, it will not be that hard to find a job.

Career Prospects - One report shows that employments prospects for these professionals is quite high over the past 5 years and this is expected to continue until after 2010. You will also be handsomely rewarded with a good salary but long hours come with the territory especially when companies and individuals have to file their income taxes and towards the end of the financial year.

Average Annual Income - Just to give you an idea, newly grades who work in banks earn an average of $35,000 to $50,000 annually, while financial managers earn almost double that amount. Professionals who soon become partners for the bigger firms earn more than $100,000.

Career Development - In order for you to get a higher position, you will also need to go back to school. Most financial experts pursue an MBA after a few years in the corporate world. While some return to their employers, others apply elsewhere.

Before you can see yourself up there, you have to work from the bottom going up. While some decide to make it big in Wall Street, you too can also succeed wherever you decide to apply.

Market Research - The first thing to do is conduct some research. This will make you understand how things work and how news in business affects the industry, the country and the world as a whole.

Networking -If you want to get the job, aside from being knowledgeable, you need to have connections that are already there so you are given the position instead of someone else. This means building your network from school and then using it to your advantage. Associating yourself with those who have done well may give you pointers so you too can be just as successful as them.

Start Early - But you shouldn't wait until graduate before you start looking at the various career opportunities in accounting and finance. The best way to get your foot in the door is to apply for a summer position or an internship because most companies hire those who have worked with them for a short period of time compared to those that sent in their resumes. Believe me; you already have an edge right there as you already have an idea about the internal workings of the company.

Prepare Your Resume - Just in case the company you worked for does not have an opening right now, you should prepare your resume and yourself for interviews with other companies that do similar activities with what you used to do during your internship.

The average professional who works in either accounting or finance leaves after 2 years. They may apply for reassignment to another department or find employment doing something else. When this happens, there are job openings around for fresh graduates as well as those who already have experience in this industry.

Indeed, there are career opportunities in accounting and finance. You just have to build your network and get it.
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