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The process of recording, classifying and reporting the financial transactions of a business is called accounting, and business professionals who have the right credentials and job experience are eligible for a variety of management jobs in accounting. The two major types of accounting categories are financial and managerial accounting. Those who work in financial accounting roles are concerned with recording and reporting financial transactions in accordance with national standards and regulations. Business professionals who work in the managerial accounting field apply statistical models, economic theory and financial principles to collected accounting data to help decision makers to assess corporate financial risks. Management positions exist in both categories of accounting, and here are some of the most popular accounting jobs for those who have gained the experience to become managers.
Financial Analyst Manager
Financial analyst managers oversee the creation of budgets as well as project spend plans. They monitor the actual costs versus the projected ones, and they evaluate the reasons for variances. Improved cost estimates and forecasting methods are results of their work. Financial analyst managers also help to generate contract requirements based on their knowledge of the organization’s budget for various initiatives, and they monitor contractor performance reports to make sure that the appropriate work products are completed within budgetary constraints. Financial analysts usually have undergraduate degrees in accounting, finance, economics or business administration, and most managers have advanced degrees in related business disciplines or certifications like the Charter Financial Analyst credential. According to the Bureau of Labor Statistics, financial analysts earned median annual salaries of $78,380 in 2012, and the projected rate of growth for the job is slightly faster than the average for all jobs surveyed.
Fixed Asset Accountant
A niche management role within in the accounting career field is the one of fixed asset accountant. This business professional monitors a company’s inventory, its equipment and facilities to make sure that these assets are accurately classified and recorded according to generally accepted accounting principles pertaining to the standards for asset categorization and depreciation. Fixed asset accountants also place the accounting inventory data into standard reports to be used by corporate officers and other company decision makers. These accounting professionals usually have undergraduate degrees in accounting or business. According to the Houston Chronicle, people who perform the same job function but who are called fixed asset administrators do not need to be certified public accountants (CPAs). However, many hiring managers prefer fixed asset accountants who are licensed CPAs.
Corporate Treasurer
A senior management position in the accounting career field is the corporate treasurer. Corporate treasurers primarily conduct strategic risk management functions related to the purchase of financial investment products, liquidity planning, currency exchange fluctuations, credit status and changing interest rates. A number of mid to senior level managers in corporate accounting and finance departments either report to the corporate treasurer or collaborate closely with the person holding the position. Networking and professional development opportunities are available to corporate treasurers through the Association of Corporate Treasury Treasury.
Related Resource: Financial Planner
Conclusion
Skilled accountants are needed in nearly every business, and those that do not employ them directly usually outsource the function to reputable accounting firms. This translates into continued job growth for accountants that parallels the growth of businesses in the national economy. Also, multi-national firms have increasingly become sources of management jobs in accounting for licensed accountants who are well versed in the international financial reporting standards.