Accounting Career Project Guidelines

The financial mangers goal is acquisition, financing, and management of assets. The challenges are investment, financing, and asset management decisions.

Question #1: What education/training is required for your entry into the career you have chosen? Answer:

Corporate finance is important to all managers because it provides managers the skills needed to identify and select the corporate strategies and individual projects that add value to their firm and forecast the funding requirements of their company and devise strategies for acquiring those funds.

Corporate finance is important to all managers because it allows a manager to be able to predict the funds the company will need for their upcoming projects and think about ways to organize and acquire those funds.

In order for me to complete this career assessment paper, I initially took an Interest Inventory survey. Upon completing this process, it revealed that my personality profile score was (I, C, A). These three letters represented my strengths and interests in determining which career field would best suit me.

In this report I hope to successfully talk about the results I received from surveys I have taken online and on paper. I would also like to talk about the career I believe is best fitted for me and what classes and activities I must complete in order to be able to do the career I’m doing this report on. I hope that I as well as anyone that reads this learns more about the career I chose and that they become as interested in it as I am.

Tasks There are four tasks to this assignment. A Short answer questions B Your work role C Career pathway D Presentation or report

B. Reflecting on the interview you conducted, what did you learn about their career? In five or more sentences, discuss your interest in this career and how the interview impacted your interest. (20 points)

List and describe the three career opportunities in the field of finance. Finance has three main career paths: financial management, financial markets and institutions, and investments. Financial management involves managing the finances of a business. Financial managers—people who manage a business firm's finances—perform a number of tasks. They analyze and forecast a firm's finances; assess risk, evaluate investment opportunities, decide when and where to find money sources and how much money to raise, and decide how much money to return to the firm's investors. Bankers, stockbrokers, and others who work in financial markets and institutions focus on the flow of money through financial institutions and the markets in which financial assets are exchanged. They track the impact of interest rates on the flow of that money. People who work in the field of investments locate, select, and manage income-producing assets. For instance, security analysts and mutual fund managers both operate in the investment field.

Find, and list, at least 10 different careers from various sectors in the health care industry. Describe the role of each career and explain what makes that profession different from the others. You can include, but are not limited to, factors such as education and experience requirements, services rendered or products offered, licensure, pay, involvement with other health care sectors, and type of work duties.

Come up with a creative way to convey my research about myself and my career choice.

Describe one (1) researched accounting position, and explain the essential skills that would make a candidate successful in the position. Articulate the primary manner in which the researched accounting positions could add value to the company seeking candidates.

Financial management is important to the organization because it provides pertinent finance and accounting information to help managers accomplish the purpose of the organization. Financial accounting provides accounting information to external users. On the other hand, managerial accounting is more for managers (internal users) to use for things like planning, budgeting, etc. The definition of finance has changed over the years, but it’s used to ultimately evaluate previous decisions and make assessments for future decisions of the organization.

The financial manager has a critical role in the organization. This position must be able to adapt to unique and often stressful situations. They must have good leadership skills and build confidence within the organization that the decisions made are correct. They often have to wear multiple hats at a time and provide structure to chaotic situations. This position should display leadership, empathy, emotional intelligence and have a solid understanding of accounting. Their accounting background should enable them to distinguish and understand all types of financial reports and statements and they should have short and long term projections for the company. In addition, within the health care industry they must be able to understand coding, billing and payer structure to ensure the revenue cycle has viability. They will review, understand and set FTE’s, manage personnel and establish, implement and evaluate financial strategies. In addition, these individuals must be able stewards of the organization. They have to be ethical, set policy/procedures and clear a path for efficient and effective operations. They evaluate information, make decisions implement the decision, evaluate the results, adjust and implement the new course of action (Cleverley, Cleverley & Song, 2010, p 4). Also, they maintain compliance with all state and federal regulations. The financial manager has a wide range of responsibilities to ensure the organization is viable.

According to the U.S Bureau of Labor Statistics, employment opportunities for the sector of business and financial operations has estimated a growth of 632,400 new jobs, or an 8% rise from 2014 to 2024. In fact, the Bureau states that “the median annual wage for business and financial occupations in 2016 was 66,530, higher than the median annual wage for all occupations of 37,040” (U.S. Dept of Labor). As a future University of Houston-Downtown graduate obtaining a bachelor of Business Administration degree with a major in Finance and investment management, I hope to be able to pursue a successful career within the financial field. Seeking a career in the finance industry can lead to many