Accounting is the basic language of business. Whether you are a star athlete, a restaurateur, or CEO of a Fortune 500 company, having a basic understanding of accounting and finance will equip you with the necessary tools to make sound business decisions. Accountants not only “keep the books” or do taxes, but they also serve as auditors, consultants, and valued business advisors.
Accounting and finance professionals are found in every industry from public accounting firms to nonprofit organizations to K-12 schools. Regardless of the industry you are interested in, accountants are ALWAYS needed.
Detailed below is an explanation of the various types of Accountants and Finance professionals. However, as the needs of the local and global business market changes rapidly, so does the accounting needs of organizations.
Types of Accountants and Finance professionals
Tax Accountants assess tax and financial planning opportunities, prepare tax returns and research tax issues.
Cost Accountants measure and allocate production and overhead costs.
Auditors attest to the fairness and reasonableness of financial statements after the analysis and inspection of supporting documentation.
Financial Analysts prepare budgets and forecasts to plan for the future and review operating results.
Management Accountants analyze costs, budgetary, forecasting, tax, and systems and procedures accounting functions. Supervisory duties and special reporting may be required.
Educators teach the theory and the practical aspects of accounting.
Internal Revenue Agents audit tax returns for compliance with tax laws that were in effect at the time the return was prepared.
Forensic Accountants investigate a party’s finances to determine whether the reported income or assets is truthful and accurate.
Certified Public Accountants (CPA’s) perform any and/or all of the above. In addition to passing the CPA examination, certain educational and experience requirements must be met.
Continuing Professional Education (CPE) is required.
Remember, accounting and finance is a very rewarding profession that is prestigious and highly respected. Individuals in the profession have a wealth of career choices within the business sector. Opportunities are diverse and available to persons who are detail-oriented, persistent, and who possess strong oral and written communication as well as analytical and interpersonal skills.
NABA sponsors several key programs and services designed to address the needs of students majoring in the fields of accounting, finance, or business administration. If you are a student interested in obtaining the training necessary to begin a successful career in business, competencies that are not taught in the classroom such as Business Etiquette, Networking, and Money Management, then NABA can equip you with these skills and more.