The people in finance and accounting help ensure that a business firm is run efficiently, that its revenue streams and expenditure needs are in balance, that its financial records are accurate, and that its taxes and other debt obligations are paid properly and on time.
Depending on the size of a company, one or more individuals may be involved in providing needed business financial and accounting services, including:
- Accounting and budgeting,
- Cash flow management,
- Financial performance reporting,
- Business tax preparation, and
- Strategic business planning.
In addition, a company's finance and accounting personnel will often assist internal and outside auditors in their work to evaluate the accuracy and adequacy of a firm's financial records.
Finance and accounting managers work in support of a firm's general management team, and may often provide reports or analysis directly to the company chief executive officer and his or her top staff.
Specific occupations and careers in business finance and accounting include:
- Financial managers,
- Accountants and auditors,
- Bookkeeping clerks, and
- Budget analysts.
Most business accountants and auditors require at least a bachelor's degree in business, accounting, or a related field. Many also choose to obtain certification, such as becoming a Certified Public Accountant (CPA), to help advance their careers. Some companies hire financial clerks or bookkeepers who have less formal education and training, however, long-term career advancement may require obtaining a bachelor's degree and/or certification as well as appropriate work experience.
American businesses have a continuing need for qualified finance and accounting managers and staff, with overall job prospects for qualified personnel expected to be very favorable over the next decade.
Learn more about the finance and accounting industry itself by visiting our Financial Services pages.
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