I Want To Be An Actuary Essay

The clicking of a keyboard and the rustling of papers are the only sounds that dare to break the silence in your office. Looking down at the stack of papers on your desk, you see that each one covered in graphs and statistics. The office chair you use squeaks as you sit back and take a sip of your coffee. The clock reads eight o’clock in the morning, and you are trying to find out how much your company should insure its clients. You are an actuary. The career of an actuary should be pursued by you and by more people. Being an actuary is great because they make a lot of money, don’t require much college or job searching, and have several good benefits. The clicking of the keyboard and the rustling of the rustling of the papers are the only sound that dare to break the silence in the office of an actuary.

Actuaries have many duties they analyze and measure uncertainty and both cost of risk. They heavily use statistics, financial theory, and mathematics to determine the risk that an event will happen and or occur; as a result, testing , designing , and testing is a included. In addition, they give a hand in clients and businesses developed policies which minimizes the cost of a risk. Actuarial work with insurance industries and are indeed essential.

These benefits typically are a function of an employee’s years of service and of the compensation level in the years approaching retirement. Because of this uncertainty, for as long as the plan continues, the employer is responsible for the payment of the defined benefits. A company must establish an appropriate funding pattern to ensure the availability of funds at retirement in order to provide the benefits promised. Due to this risk, the expense recognized each period is not necessarily equal to the cash contribution. One interesting factor of this type of benefit plan is the role actuaries play in the accounting process. Actuaries are individuals trained through a long and rigorous certification program to assign probabilities to future events and their financial effects. For pension plans, actuaries compute future salaries, retirement frequency, along with various pension measures that affect the financial statements. Accounting for defined benefit plans relies heavily upon information and measurements provided by

Financial analysts are divided into different categories: buy-side analysts and sell-side analysts (Bureau of Labor Statistics). Buy-side analysts are the one who “develop investment strategies for companies that have a lot of money to invest. Sell-side analysts advise financial services sales agents who sell stocks, bonds and other investments,”(Bureau of Labor Statistics). Being a financial analyst you are not necessarily tied to a specific tasks, there are a variety of options you can do regarding this career. They can be portfolio managers, fund managers, ratings analysts, and risk

Do you enjoy mathematics? Businesses run on numbers and it's the accountants that keep track of them. Business accounting may include keeping a general ledger, handling payroll accounts, tracking cash flow or managing employee benefits. Business accounting requires the use of a software program that manages the database and that can be programmed to produce the reports required by management. An accounting degree or business administration with a focus on finance is a solid base, while an MBA with focus on accounting or finance will propel you into a leadership position in your employer's fiscal affairs.

Accountants are responsible in analyzing and assessing the revenue, expenses, reporting financial matters and giving advice about the financial health of their employer. They help their client to know the best way to run a business by tracking and analyzing where does the money of the business go. They also give suggestions on where money could be made and advice in budgeting the money in the business.

However, with a degree in accounting, there are many career options one can take. For example, one can pursue a job as a Financial Accountant. As a Financial Accountant, the job can consist of preparing financial statement, or running spreadsheets. On the contrary, accounting major can also acquire a license as a Certified Public Accountant (CPA). This will allow them to work as an auditor, tax compliance, estate and financial planner. The texts I have selected were written by and for Business majors and all have a common structure and

Accounting professionals are in very high demand. The nature of work in accounting is so vast an individual would have so many different areas of accounting to choose from. Accounting requires people who can work with complex business structures, computer systems, and financial analysis packages. Accounting work further requires an aptitude for mathematics and the ability to compare and analyze accounting data quickly. Accountants also need to have strong communication skills as they must effectively communicate accounting data to their employers and/or clients. The accounting profession also demands a high level of integrity and morality because the financial data prepared by accountants is used by business managers to run their

When I was younger I didn’t really know what I wanted to be. I knew some things that I liked to do, like help people or anything that has to do with money, but I wasn’t really sure what I wanted to major in. Entering into college I was trying to figure out what major I would like to pursue in. I was looking in radiology and accounting. Finding more information about radiology and accountancy will help me to narrow down or confirm what major I will choose.

Being an accounting major allows you to be in a program that prepares individuals to practice the profession of accounting and to perform related business functions. The different job opportunities and learning aspects would include financial accounting, managerial accounting, cost accounting, budget and tax accounting. As well as knowing the legal aspects of accounting, auditing, reporting procedures, statement analysis, planning and consulting, business information systems, accounting research methods, professional standards and ethics, and applications to specific for-profit, public, and non-profit organizations. With the variety of job opportunities, the salary ranges between 45,000-90,000 dollars depending on experience and career choice.

We need accountants because they are trained to handle tough financial situations. They know what investments are wise, what we can afford, and how we can increase our wealth.

Consequently, accountants are quite important to a business society being able to function. Even the smallest of businesses need an accountant. Their careers serve various purposes in a business from recording profits and other numbers to helping construct budget decisions that influence how well the business will run and prosper. Businesses need to price their products and consider using three elements of cost, overhead, and profit margin. An accountant can create

The purpose of accounting is to provide the information that needed to make sound economic decisions. It is one of the oldest professions in the world today, and the backbone of any business operation. It is not just about numbers, accounting is about planning. Accounting has many subfields, which includes management accounting, financial accounting, and cost accounting. Accounting can be a prestigious career, but to achieve that prestige you will have pass the CPA (Certified Public Accountant) exam and become a licensed accountant, and with that license you can work in any of the subfields.

You would need to create saving plans, understand and make smart investments, compound interest (interest on interest), making a budget and knowing the difference between a credit and debit card. Two additional examples of mathematics in the real world are student loans, you must create a plan to pay back a specific amount each month and determine when you will be out of debt. An additional example that remains under the category of the basics of banking, for profitable stock trading you must ensure that the average gain of winning trades are larger than the average loss of losing

Accountants must have a good deal of experience working with computers. They develop computer applications to assist the analysis and presentation of their findings. Due to the e-commerce explosion, a majority of financial records are now web-related.