Accounting to Finance – A Decisive Jump
At the onset of one’s career it is a very optimistic viewpoint. An individual tends to be drifted towards the field of his liking. Days pass turning into weeks, months and years. The work which began on the threshold of life as a career builder gradually attains stagnancy. Pondering over the past years this field of passion seems to have come to a standstill and after years of hard work poured in, it seems as if a voice from within is calling for a change, yeah a change in career.
This has happened to you and me, it is nothing new. The very reason of pointing out to this aspect is to highlight upon the “Accounting and Finance” Sector. There are a lot of perceptions of jumbling the accounting and finance areas as one, but both the sectors are inter-related and we could say it is two sides of a coin.
Who is an Accountant?
An accountant primarily assesses the “financial position” of the firm. He is responsible for preparing financial statements such as balance sheets, income statements and cash flow.
Who is a Financial Analyst?
After the accountant completes his role of preparing the balance sheets, then the “financial analyst” zooms into action. The scope of work for a “Financial Analyst” is spread over a broad spectrum. He has a vision to foresee the future of the company and helps the company officials to understand the company’s stand, advising them of the possible profit and losses. Finance is more of a risk management area. Students opting to take up finance as their career need to understand that finance is a much generalized area wherein banking, real estate, corporate control, insurance organizations etc. come under one umbrella.
Why the Jump?
Any simple question arise controversies. Different heads think differently. If you say that why there is a need to hire two separate individuals if the accounting and finance is so well gelled in each other? People assume that the person who deals with numerical data may not possibly enjoy the work of forecasting and vice-versa.
Transition – Not as easy!
Nothing in life comes the easy way. You cannot enjoy the delicious meal decorated on a platter unless you have earned it. Same is in the case where you have to now go in for a drift in profile. If you have worked as an accountant since long and have been able to gather an idea on how the finance works, then you could definitely go in for the change. The accounting degree will surely help in conducting financial analysis but, an MBA in finance will give a finishing touch to your ambition.
Crossing lines is always impressive and appealing. One of the major reasons behind career decisions is to maintain a balance between work and personal life. Becoming successful largely depends on your background, education and years of experience. Magic is created if you are “at the right place at the right time”.