jobtalks careers options in finance and accounting indiana university kelley school of business c....
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JOBTALKSJOBTALKS
Careers Options in
Finance andAccounting
Indiana UniversityKelley School of BusinessC. Randall Powell, Ph.D
Contents used in this presentation are adapted from Career Planning Strategies and used with the permission of the author.
ACCOUNTING AND FINANCE
• Controller• Partner• Auditor• Accountant• Financial Analyst• Budget Analyst• Tax Specialist• Credit Manager
FINANCE
GovernmentEducation
Business
ACCOUNTING
Accounting and Finance
Tax Preparation
Cost Studies Financial
AnalystTYPEOF
WORK
AuditingCredit
AnalystData Processing
OPERATING DEPARTMENTS
• General Accounting• Internal Auditing• Operating Budgeting• Capital Budgeting• Computer Systems• Investments
• Credit• Treasury• Taxes• Cost Control• Insurance• Pricing
People in Accounting and Finance have to be conversant with computers
FINANCIAL ORGANIZATION
Chief Financial Officer
Vice President
Treasurer
Corporate Controller
Division Controller
Plant/Unit Controller
Department Manager
Staff
Accounting Advancement
Accountant
Analyst
Department Manager
Controller/ Treasurer
V.P. Finance
TYPICALPROMOTION PATH
FINANCIAL JOB REQUIREMENTS
• Minimum four courses• Intermediate accounting• Cost and/or financial accounting• Two finance courses• Sometimes auditing
Accounting degree preferred but not always required
PersonalQualitiesSought
• Analytical mind• Enjoy project
work• Presentation skills• Attention to detail• Organized• Attitude
FINANCE:
Financial Management Duties
• Compile financial records• Prepare financial reports• Analyze financial data• Prepare budgets• Conduct audits• Invest ST funds• Manage people
PUBLIC ACCOUNTANT
• Report financial facts• Attest to authenticity• Advise clients• Independent practitioners working on a
fee basis
PUBLIC ACCOUNTING
Job Qualifications
• Degree in accounting
• Top grades• Outgoing
personality
PUBLIC ACCOUNTING
• Highly Selective• Emphasize Grades• Outgoing Personality• High Pay
– Great Training
• Drawbacks– Travel– Turnover
Public Acctg. Job Seekers
InterviewEarly
Feedback
SmallFirms
BeRealistic
Industrial Accounting:Fortune 500 Firms
• Highly Selective•Top Salaries
•Training
INTERNAL AUDITOR
• Accounts for funds• Conducts project analyses• Recommends actions• Internal consultant
Cuts across all organizationalreporting lines
BANKING
• Bank of America• Bank One• Harris Bank• LaSalle Bank• National City Corp.• Wells Fargo
BANKING
TYPES OF FINANCIAL INSTITUTIONS
Money Center BanksSmall Town Banks
Regional Banks
BANKING
Installment Lending
Branch Management
Trust
CommercialLending
InternationalOperations
Credit Analysis
FUNCTIONSPersonal Banking
BANKING
• Qualifications:• Degree Depends On Function• Preferred Majors:
– Finance – Economics– Systems
• Depends On Size
– Management– Real Estate– Marketing
Investment Banking
• Top grades REQUIRED• Prefer some experience
(internship, workshop) in investment banking
• Long hours an industry standard
• Future MBAs strongly encouraged.
INSURANCE
• Aetna Life & Casualty• Prudential Insurance• Metropolitan Life• New York Life• College Life• Blue Cross• All-State
INSURANCE
• Large Industry• Builds On Financial Planning Concepts
– Risk Sharing– Estate Planning
ManagementTraining
Adjusters Actuarial
TYPES OFJOB OPPORTUNITIES
Sales InvestmentData
Management
FINANCE SUMMARY
• Overview• Many Opportunities• Further Interest?• Explore In More Depth
CAREER OPTIONSComponents
Class GuidelinesEvaluating Career Options
Financial OptionsSystems Options
Management OptionsEvaluations
If you would like to learn more, Career Planning Strategies textbook will supply additional information on this topic.