jobtalks careers options in finance and accounting indiana university kelley school of business c....

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.