Finance and Accounting Careers
Accounting or financial managers are the people responsible for overseeing and maintaining thefinancial strategy and history of a company. The accounting manager is focused more on financialreporting, while the financial manager is focused on strategy and money management. Finance hasbeen one of the more popular choices for MBA focus or concentration.A finance MBA can offer numerous possibilities and can be an effective tool to help with promotions inthe professions discussed below. Most prospective jobs for finance MBAs fall within investment banks,corporations, and securities firms. Many finance MBA graduates also follow careers in the consultingindustry.
Financial Managers or Financial Analysts
Financial analysts and managers use historical (accounting) data in their decision making, however thenumber one role of the financial manager is to oversee the production of financial analysis and reportsto help the company with decision making, business development, strategic planning, and alliancemanagement. Through the use of these reports, the financial analyst helps to shape the company¶sinvestment and business growth. Cash management strategies developed and implemented by thefinancial analyst help the company to grow efficiently and allow for maximum profitability in itsinvestments.Financial analysts and mangers play an important part in mergers and global financing and expansion.Highly specialized knowledge in these areas is an important asset to the financial manager and his orher employer to maximize potential profit and reduce risk. Many companies utilize globally activeconsulting firms exclusively for these purposes.
Accounting managers working in a corporate setting perform responsibilities relating to tax reportingand management, and creating income statements inside of controller and audit groups. This careerpath may bring one to the positions of corporate treasurer, corporate controller, or CFO (chief financeofficer). Professional accountants working for a public accounting company will perform functionssimilar to those performed by independent audit or tax consultants. An educational history orbackground based in accounting, either as a Masters degree or as a finance MBA, will give you someof the coursework you need to have in order to take the CPA (Certified Public Accountant) exam.
A controller is someone who is in charge of preparing a company¶s financial reports to forecast andsum-up the company¶s financial situation. The statements a controller would get together consist of balance sheets, income statements, earnings analyses, and expense analyses. Regulatory agenciesmay also require special reports from companies. Controllers prepare these reports. In addition, acontroller will frequently be over the budget, auditing, and accounting departments of a company.
Chief Financial Officers
The top financial executive of an organization is the CFO. The CFO supervises all accounting andfinancial operations, as well as administering the company¶s general financial policies and strategies.While the CFO in a small company will often be responsible for all of the financial management duties,a CFO in a large company may delegate some or all of the responsibilities to other managers or vice