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Finance and Accounting Careers

Finance and Accounting Careers

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Published by k gowtham kumar

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Published by: k gowtham kumar on Nov 28, 2010
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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
 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.
Corporate Controllers
 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
presidents within the company.
reasurers and Finance Officers
Finance officers other than the CFO and treasurers oversee and guide a company¶s financial objectivesand budgets. The financial officer may formulate and implement strategies to raise capital, overseecash management, or manage the company¶s capital investment activity. Financial officers also play asignificant role in a company¶s merger and/or acquisition activities. The treasurer, while he or she mayshare some of the financial officer¶s duties, will usually have some banking experience.
Cash Managers
 The Cash Manager is responsible for overseeing and controlling cash flow, both accounts receivableand accounts payable. He or she is also responsible for ensuring that the cash position of the companyis sufficient to meet current and forecasted needs, or whether adjustments in investment quantity andtype are necessary.Risk and Insurance ManagersBusiness operation and transactions involve a certain amount of risk. Risk managers and insurancemanagers work to minimize the amount of loss a company incurs and the amount of risk it is exposedto.
Management Consultants
 Management consultants work to help companies with a wide variety of problems and issues.Everything from profitability improvement to corporate restructuring to financial strategy. The MBAgoing into this field should have either an expert understanding of a wide base of knowledge, or behighly skilled in two or more sub groups. The management consultant will also help companies withcash management and emerging market analysis.
Investment Bankers
 An investment banker will work together with corporations needing capital to grow and institutions orinvestors who have money available to invest. An MBA is an enormous asset in this field as theinvestment banker will be giving investment advice to his or her clients regarding raising capital. Mostinvestment banks have a corporate finance division that assists clients in structuring financialinstruments such as stocks or bonds to raise capital.
Investment Banking Associates
People graduating with an MBA in finance often begin their career as an associate with an investmentbank firm or investment firm. This is usually at least one level above the entry-level position as ananalyst typically obtained by persons with only an undergraduate degree. Most analysts end uppursuing an MBA degree after a couple of years in the industry in order to obtain promotions. Manypeople in the corporate finance side of investment banking will obtain a CFA (Chartered FinancialAnalyst) designation as a supplement to their MBA. The Association for Investment ManagementResearch (AIMR) is the governing body for the CFA exam and designation.The mergers and acquisitions departments of investment banks provide consulting services tocompanies in the process of merging or acquiring other companies or organizations. Organizationswishing to acquire, dispose of, or invest in real estate will deal with the real estate division of an

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