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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.
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ACCOUNTING AND FINANCE
• Controller• Partner• Auditor• Accountant• Financial Analyst• Budget Analyst• Tax Specialist• Credit Manager
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FINANCE
GovernmentEducation
Business
ACCOUNTING
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Accounting and Finance
Tax Preparation
Cost Studies Financial
AnalystTYPEOF
WORK
AuditingCredit
AnalystData Processing
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OPERATING DEPARTMENTS
• General Accounting• Internal Auditing• Operating Budgeting• Capital Budgeting• Computer Systems• Investments
• Credit• Treasury• Taxes• Cost Control• Insurance• Pricing
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People in Accounting and Finance have to be conversant with computers
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FINANCIAL ORGANIZATION
Chief Financial Officer
Vice President
Treasurer
Corporate Controller
Division Controller
Plant/Unit Controller
Department Manager
Staff
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Accounting Advancement
Accountant
Analyst
Department Manager
Controller/ Treasurer
V.P. Finance
TYPICALPROMOTION PATH
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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
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PersonalQualitiesSought
• Analytical mind• Enjoy project
work• Presentation skills• Attention to detail• Organized• Attitude
FINANCE:
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Financial Management Duties
• Compile financial records• Prepare financial reports• Analyze financial data• Prepare budgets• Conduct audits• Invest ST funds• Manage people
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PUBLIC ACCOUNTANT
• Report financial facts• Attest to authenticity• Advise clients• Independent practitioners working on a
fee basis
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PUBLIC ACCOUNTING
Job Qualifications
• Degree in accounting
• Top grades• Outgoing
personality
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PUBLIC ACCOUNTING
• Highly Selective• Emphasize Grades• Outgoing Personality• High Pay
– Great Training
• Drawbacks– Travel– Turnover
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Public Acctg. Job Seekers
InterviewEarly
Feedback
SmallFirms
BeRealistic
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Industrial Accounting:Fortune 500 Firms
• Highly Selective•Top Salaries
•Training
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INTERNAL AUDITOR
• Accounts for funds• Conducts project analyses• Recommends actions• Internal consultant
Cuts across all organizationalreporting lines
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BANKING
• Bank of America• Bank One• Harris Bank• LaSalle Bank• National City Corp.• Wells Fargo
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BANKING
TYPES OF FINANCIAL INSTITUTIONS
Money Center BanksSmall Town Banks
Regional Banks
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BANKING
Installment Lending
Branch Management
Trust
CommercialLending
InternationalOperations
Credit Analysis
FUNCTIONSPersonal Banking
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BANKING
• Qualifications:• Degree Depends On Function• Preferred Majors:
– Finance – Economics– Systems
• Depends On Size
– Management– Real Estate– Marketing
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Investment Banking
• Top grades REQUIRED• Prefer some experience
(internship, workshop) in investment banking
• Long hours an industry standard
• Future MBAs strongly encouraged.
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INSURANCE
• Aetna Life & Casualty• Prudential Insurance• Metropolitan Life• New York Life• College Life• Blue Cross• All-State
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INSURANCE
• Large Industry• Builds On Financial Planning Concepts
– Risk Sharing– Estate Planning
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ManagementTraining
Adjusters Actuarial
TYPES OFJOB OPPORTUNITIES
Sales InvestmentData
Management
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FINANCE SUMMARY
• Overview• Many Opportunities• Further Interest?• Explore In More Depth
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CAREER OPTIONSComponents
Class GuidelinesEvaluating Career Options
Financial OptionsSystems Options
Management OptionsEvaluations
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If you would like to learn more, Career Planning Strategies textbook will supply additional information on this topic.