Accounting Careers Flashcards
Forensic Accountant role and responsibilities
(looking at other companies) Investigate financial crimes such as embezzlement, fraud, and money laundering. They analyze financial records and transactions to uncover irregularities and provide expert testimony in legal cases
Financial Accountant technology skills
High. They use advanced software tools for data analysis, auditing, and detecting suspicious activity.
Financial accountant travel
yes, they may need to travel to gather evidence or testify in court
Financial accountant education and certification
a bachelors degree in accounting or finance is essential. Along with a Certified fraud examiner (CFE) or certified public accountant (CPA) designation.
Financial accountant stability
Offers stable income and demand especially as financial regulations tighten and the need for fraud detection grows.
Management Accountant role and responsibilities
(inside of a company) help businesses make strategic decisions by analyzing financial data, preparing budgets, and evaluating the financial implications of business projects. Play a crucial role in guiding company management.
Management Accountant technology skills
Moderate. They use financial modeling software and tools like Excel but may not require as many specialized tools as forensic accountants.
Management Accountant travel
Limited. Most work is done in house or remotely though some travel may be needed for large corporations with multiple locations.
Management Accountant education and certification
A bachelors degree in accounting is standard with a certified management Accountant (CMA) credential enhancing career prospects.
Management Accountant stability
This role provides stable and potentially lucrative(really good) income with opportunities for advancement into executive roles like Chief Financial Officer (CFO)
Tax advisor role and responsibilities
(most likely own a company) They help individuals and businesses optimize their tax positions, ensuring compliance with tax laws while minimizing liability. They prepare tax returns, plan tax strategies, and offer advice on tax-related decisions.
Tax advisor technology skills
Moderate. They use specialized tax preparation software and must stay updated on the latest tax laws and regulations which change annually
Tax advisor travel
Minimal. Most work is office based or remote with occasional travel for client meetings
Tax advisor education and certification
A bachelors degree in accounting or finance is typical, along with CPA certification. Enrolled Agent (EA) status is also beneficial.
Tax advisor stability
it is a stable field as tax compliance is a constant need. There is also high demand during tax season, offering potential for increased income.
Auditor role and responsibilities
provide opinion to companies to make sure they stay compliant with the security exchange commissions, regulations, and accounting standards, and helps them follow the Sarbanes Oxley act which helps mandate certain financial practices to keep CEOs accountable
Auditor technology skills
Moderate to high. Excel skills for data analysis
Auditor Travel
High travel. They have to travel to the companies they help
Auditor Education and certification
At least a bachelors in accounting and a CPA and masters degree in accounting
Auditor stability
good job stability due to the essential role auditors play in ensuring financial integrity and compliance, with the Bureau of Labor Statistics
Professional Designations and Organizations
Each of these careers require obtaining professional Designations like CPA, CMA, CFE, or EA that can significantly boost career prospects and income potential. Professional organizations such as the American Institute of CPAs (AICPA) or the Institute of Management Accountants (IMA) provide valuable resources, networking opportunities, and continuing education to support accountants throughout their careers.
(AICPA and IMA support professional Designations.
