Accounting or Budgeting Career

Executive Summary

This report explores the two finance related careers that are accounting and budgeting. Accounting uses accounting, investigative, and auditing skills to analyze financial statements and other financial aspects of a company. An interesting aspect in all of these sites about accounting was they all specify what a great accomplishment this position is to hold and how it is one of the most prestigious positions in the business world. Budgeting is the process of creating different budgets for organizations done by budget analyst. Budgets are tools they use in order to effectively control and manage the items of expenditure and income, so it is essential to the classification of items that support the accounts of the budget that in turn generates greater control and greater efficiency in putting it into practice, as appropriate classification creates a perfect balance and see an effective tool for management. Benefits and drawbacks are also discussed for both the careers and in the end accounting career is recommended to client pursue.

Table of Contents

Executive Summaryii

Introduction4

Accounting Career4

Roles and Responsibilities of Accountant4

Benefits of Accounting Career4

Drawbacks of Accounting Career5

Budgeting Career6

Role and Responsibilities of Budget Analyst6

Benefits of Accounting Career7

Drawbacks of Accounting Career7

Conclusion and Recommendation7

References9

Accounting or Budgeting Career

Introduction

Finance is a vast scope career with number of different roles internally. A degree in finance open doors to many of the sub-careers of finance related fields, accounting and budgeting being the important one. Accounting and budgeting are quite different from each other with different nature and scope of work. There is slight difference in the analytical skills required for both the different tasks, i.e. accounting and budgeting. This report provides an overview of the accounting and budgeting careers including the nature of the work, the roles and responsibilities, the skills required and the relevant qualification and experience required in doing the job effectively. The report also recommends the potential career to be pursued.

Accounting Career

Like any powerful and specialized job such as Accounting; it has its own shares of gains and losses; from both personal and professional aspects. The Accountants after graduation are required to combine their goal & career's ambition and match it; with any of the highly powerful corporation; such as Deloitte; Ernest &Young; KPMG and PricewaterhouseCoopers. Otherwise there are the investment and retail banks; also the companies in all different fields of business recruit Accountants; to supervise their expenses and profits, and calculating earnings and costs (Accounting Tools, 2011).

Roles and Responsibilities of Accountant

In simple words the Accountant; is a person who manages the Accounting tasks; for the individuals or to the whole firm. The Accountant takes many tasks according to the company's size and the Accountant's specialization; which mostly including the tasks of generating Finance Reports; Taxes and all Company's Payrolls. The tasks itself can be different in small or large firms; in a small firm, an Accountant is mostly responsible for keeping all financial records. These accounting records include Accounts payable, Payroll information, Accounts receivable, Retail Sales Information; regarding investments held by the company (Watkins, ...