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Old 06-19-2010, 01:53 PM
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Cool FInancial careers

This is my first time visiting these forums but I have a question for anyone that can relate to me or has some experience/knowledge.

I am in my senior year at my state university and I am an accounting major but recently I started considering changing my major to finance.

What I like about finance is that there is more money management instead of reporting numbers and accounting leaves me believing that my future will be pretty black and white.

Now i know that majoring in accounting won't leave me out of the mix for a career in finance, and maybe accounting will start my career in whatever direction I choose to go down the line.

But what I want to know is, how would I know if majoring in accounting or finance is for me and does it really matter?

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Old 07-20-2010, 12:13 AM
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Default Re: FInancial careers

My quick take and opinion on your situation. I'm going to state things in absolutes, but of course there are no absolutes. My opinion below, is sort of in general this is what happens.

In case you can't tell, Accounting looks backward, Finance looks forward.

1. With an undergraduate degree in accounting there are two paths out of school: CPA route or Corp accounting route. In the CPA route you're generally doing auditing and taxes until you choose to specialize in something (taxes, estates, financial planning, forensics, etc). Or you can choose no to specialize and be a generalist/partner.

In a big CPA firm though it's usually up or out- you can't really be a generalist there too long unless you become partner. The bottom line with being a CPA is that mostly, you're looking backward, trying to figure out and explain what happened. Knowing how to prepare taxes and give tax advice will always be part of your job also.

2. Going the Corporate accounting route, you don't need a CPA (though it is helpful to credentialize yourself). Right out of College, you usually start out in the "accounting machine" somewhere (A/P, A/R, etc.) Later you get into making budgets, analyzing costs, making financial plans, and eventually get into explaining results to people.

3. A person with an undergraduate finance degree can start in corporate accounting in the same position as a person with an undergraduate accounting degree.

In my opinion, a Finance major takes more mathematical background (there's more calculus, statistics and computer programming involved), but if this interests you, you should go this route if you have the interest and mathematical background. The jobs are more interesting (in my opinion), you're looking forward, so things are changing, and the pay is better. There is also more competition for those jobs, so advanced degrees in Finance, mathematical finance or maybe an MBA are kind of the minimal level of education you'd need.

With an undergraduate degree in accounting or finance, you're looking at 1 or 2 or 3 above out of college, then getting absorbed in a company somewhere.

If you go the Finance route with an advanced degree, you won't probably be working in the corporate arena, but at a specialized, where the work is more interesting, more demanding, and pays more.

Best Wishes
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Old 07-20-2010, 12:49 AM
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Default Re: FInancial careers

taxes and accounting is hands on in financial deals, transactions and m&a etc, cpa's and tax professionals don't always look back, the good ones look forward and are part of the deal, actually essential part of the deal, its not always glamorous but for finding a target even KKR needs accountants.
Stick with the accounting and specialize and find your jobs in areas you like.
and please don't get one of those jobs who call cold and try to sell stock from a list!
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Old 07-21-2010, 11:56 PM
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Default Re: FInancial careers

In today's age, you can use the two interchangeably when it comes to financial planning/advising sector. If you want to go to a big firm, accounting would be best for you. Even financial analysts don't have to be finance majors to work in their field.
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Old 08-10-2011, 08:04 AM
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Default Re: FInancial careers

Hello,
Just curious if you would enjoy finance articles and would you be interested in writting for a Finance website - Imperalis Finance.
If you would like to please let me know and have a sample article to send.
If the team likes what you write then we will pay per article you write for us.
Thanks, Michael
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Old 10-19-2011, 08:07 PM
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Default Re: FInancial careers

Between finance & accounting I'd suggest finance. because auditing in accounting may come too complex.
For example think about audit notebook. It shows
An audit note book is a book which is maintained by the audit clerk. During this course of audit, the clerk comes across several difficulties or new points which he has to discuss with his senior or the auditor. He makes several inquiries which he thinks, have not been satisfactorily answered. Such a book is written record of queries made; replies received thereto, correspondence entered into etc. This book maybe of great helps to the auditor preparing his Audit Report from such a record. A separate Audit Note Book is maintained for each concern
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Old 11-03-2011, 10:21 AM
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Default Re: FInancial careers

Thanks for this general talk i read to get more information about Finance field.
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Old 11-14-2011, 11:16 PM
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Default Re: FInancial careers

Hello,

Need some financial advice?Visit Goldstone Financial Group.

Thanks.
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Old 12-25-2011, 05:02 AM
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Default Re: FInancial careers

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Old 01-12-2012, 05:17 AM
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Default Re: FInancial careers

@rockstar1
In finance Industry there are lot of opportunities are there for every specialization. If you would like to go for the money management then it would be a special subject in finance. If you would go for the accounting then I think it will differ from the finance.
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Old 01-21-2012, 01:59 PM
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Default Re: FInancial careers

when working in finance, you always need to have solid basis in accounting. For example, fundamental analyst rely on accounting analysis. Furthermore each finance MBA requires some accounting course. For example, you have a lot of financial analysis when doing the CFA exam.

If you want to know more about financial diplomas, please visit Your Portfolio 101
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Old 01-24-2012, 01:58 AM
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Default Re: FInancial careers

finance Industry has lot of opportunities for money management (finance)

Miramar Capital gives news about financial tips, investment news and knowledge of the expectations and needs of each investor.
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