JOBTALKS Careers Options in Finance and Accounting Indiana University Kelley School of Business C. Randall Powell, Ph.D Contents used in this presentation are adapted from Career Planning Strategies and used with the permission of the author.

ACCOUNTING AND FINANCE Controller Partner Auditor Accountant Financial Analyst Budget Analyst Tax Specialist Credit Manager

FINANCE Government Education Business ACCOUNTING

Accounting and Finance Tax Preparation Cost Studies Financial Analyst TYPE OF WORK Auditing Credit Analyst Data Processing

OPERATING DEPARTMENTS General Accounting Internal Auditing Operating Budgeting Capital Budgeting Computer Systems Investments Credit Treasury Taxes Cost Control Insurance Pricing

People in Accounting and Finance have to be conversant with computers

FINANCIAL ORGANIZATION Chief Financial Officer Vice President Treasurer Corporate Controller Division Controller Plant/Unit Controller Department Manager Staff

Accounting Advancement Accountant Analyst Department Manager Controller/ Treasurer V.P. Finance TYPICAL PROMOTION PATH

FINANCIAL JOB REQUIREMENTS Minimum four courses Intermediate accounting Cost and/or financial accounting Two finance courses Sometimes auditing Accounting degree preferred but not always required

Personal Qualities Sought Analytical mind Enjoy project work Presentation skills Attention to detail Organized Attitude FINANCE:

Financial Management Duties Compile financial records Prepare financial reports Analyze financial data Prepare budgets Conduct audits Invest ST funds Manage people

PUBLIC ACCOUNTANT Report financial facts Attest to authenticity Advise clients Independent practitioners working on a fee basis

PUBLIC ACCOUNTING Job Qualifications Degree in accounting Top grades Outgoing personality

PUBLIC ACCOUNTING Highly Selective Emphasize Grades Outgoing Personality High Pay –Great Training Drawbacks –Travel –Turnover

Public Acctg. Job Seekers Interview Early Feedback Small Firms Be Realistic

Industrial Accounting: Fortune 500 Firms Highly Selective Top Salaries Training

INTERNAL AUDITOR Accounts for funds Conducts project analyses Recommends actions Internal consultant Cuts across all organizational reporting lines

BANKING Bank of America Bank One Harris Bank LaSalle Bank National City Corp. Wells Fargo

BANKING TYPES OF FINANCIAL INSTITUTIONS Money Center Banks Small Town Banks Regional Banks

BANKING Installment Lending Branch Management Trust Commercial Lending International Operations Credit Analysis FUNCTIONS Personal Banking

BANKING Qualifications: Degree Depends On Function Preferred Majors: –Finance –Economics –Systems Depends On Size –Management –Real Estate –Marketing

Investment Banking Top grades REQUIRED Prefer some experience (internship, workshop) in investment banking Long hours an industry standard Future MBAs strongly encouraged.

INSURANCE Aetna Life & Casualty Prudential Insurance Metropolitan Life New York Life College Life Blue Cross All-State

INSURANCE Large Industry Builds On Financial Planning Concepts –Risk Sharing –Estate Planning

Management Training AdjustersActuarial TYPES OF JOB OPPORTUNITIES SalesInvestment Data Management

FINANCE SUMMARY Overview Many Opportunities Further Interest? Explore In More Depth

CAREER OPTIONS Components Class Guidelines Evaluating Career Options Financial Options Systems Options Management Options Evaluations

If you would like to learn more, Career Planning Strategies textbook will supply additional information on this topic.