Strategy Versus Action – The Difference Between Finance and Accounting
If you are a numbers nerd, then a career in financial management might be right for you. Finance and accounting are separate career paths that intersect in areas such as skill sets and training but involve distinct responsibilities. Finance recruiters in Orange County are specialists in identifying opportunities for recent graduates, or other candidates, interested in employment in these fields.
Finance Looks to the Future
Finance takes the long view on money management. Professionals focus on business or individual strategies for resource development, growth and preservation. They are big picture thinkers whose jobs involve assessing economic conditions, understanding investment markets and evaluating business trends. Working with management or investors, they help to plan goals and objectives based on that information. A career in finance begins with earning a bachelor’s degree. A master’s degree in business administration or finance would be helpful to qualify for positions such as chief financial officer or financial analyst. Certification offers an opportunity to specialize in distinct areas.
Accounting Focuses on the Present
While the finance staff plans how assets may perform in the future, accountants are concerned with money management on a daily basis. They oversee cash flow, payables and receivables to provide businesses or individuals with statements that accurately reflect their financial status. Accountants are also responsible for ensuring that taxes are prepared in accordance with IRS regulations and on a timely basis. They are guided by a set of standards called Generally Accepted Accounting Principles.
Whether you have an associate’s degree or a master’s degree, there are jobs available in accounting across the educational spectrum. Obtaining CPA (certified public accountant) status opens, even more, employment options. Accountants can specialize by skill, such as quality assurance or risk management, or by industry.
No matter where they are employed, accounting and finance staff make a critical contribution to the management team. Their expertise is vital to running a successful business. If you are trying to decide which career path would be best for you, finance and accounting staffing agencies can help you learn more and provide information on employment opportunities, salaries and other significant data.