Becoming a master of professional accounting isn’t easy. But, the career opportunities for professional accounting experts are extremely rewarding.
Financial accounting is a field that grows in stature every year. Financial accounting experts are of particular interest to stakeholders in public companies who want detailed reports on the company’s financial position. So, becoming a master of professional accounting requires more than just accounting knowledge – these experts need to be masters of financial analysis and communicate their insights using top-quality presentation skills. Their keen eye for figures needs to merge with their country’s accepted accounting standards, and there can never be a drop in the consistency of their reporting. After getting a master’s degree in accounting, financial accounting professionals can apply for these positions.
The standard procedure for almost every student with a master’s degree in accounting is to apply for the position of a financial accountant. They can then start preparing accurate financial statements for their employers. From yearly balance sheets to regular profit and loss statements – these experts have to create a wide range of financial reports that are compliant with state laws and company regulations. A master of professional accounting should also be able to identify and solve any inconsistencies in financial records or recorded transactions. The demand for top-quality financial accountants keeps increasing every year.
A master of professional accounting can also apply to become an internal auditor of a company. An auditor is expected to identify commercial risks in business projects. They also need to ensure company projects are compliant with government regulations. Students who specialize in financial auditing while getting their master’s degree in accounting are well-equipped to handle the day to day responsibilities of an auditor. They include – gauging existing internal systems, identifying areas for development, coordinating with other employees to implement their internal improvement plans.
Personal Financial Advisor
Financial advising is an extensive and ever-growing field. A master of professional accounting can easily undertake the responsibilities of an average personal financial advisor which include helping clients make investment decisions, assessing the private finances of their clients, monitoring the state of their clients’ past and current investments, etc. In addition to that, personal financial advisors are also expected to offer insurance guidance, estate planning, manage taxes, lookover retirement funds, etc.
Students who specialize in management while getting their master’s degree in accounting can apply for the position of financial manager. Their responsibilities include assessing and addressing the financing needs of their employers. These experts have to overlook both the short and long-term goals of their companies. Top-level financial managers even oversee mergers and acquisitions! This managerial position allows professionals to hone their communication skills as they have to deal with assistants, external stakeholders, top-level managers of the company, etc. In addition to being a master of professional accounting, candidates must also get MBAs in finance to apply for these high-paying positions.
Tax advisers work both with organizations and individuals, creating the best tax strategies for them. They have to specialize in corporate taxes, personal taxes, inheritance taxes, VAT, etc. They also have to file local and federal tax returns for their employers. Students who specialize in taxes while getting their master’s degree in accounting can apply for tax adviser roles.
Investment bankers assist companies in their bid to enter the capital market. They help these organizations raise money for Mergers & Acquisitions or other expansion projects. These experts have to assess past financial data to estimate future incomes and expenses so that their employers can make financially rational investment decisions.