Finance Accounting

Saturday, March 20, 2010

How is the Current Climate Affecting Finance and Accounting Professionals?

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Now more than ever, career development should be at the forefront of mind for any finance professional if they want to succeed. Whether you are part, newly or many years qualified it is vital that your training continues so you can carry on developing during the recession, whatever stage of qualification you may be.

It seems Part Qualified professionals have seen very little effect, funding has stayed the same and candidates continue to receive the original benefits and training packages offered.

However, there has been increased importance placed on maintaining study and the individuals benefiting from the training are having higher expectations put on them to achieve a standard that sets them apart from their peers.

The last recession saw a significant shortage of newly qualified accountants entering the market between 2004-2008 this was partly due to lack of investment in training and in order to prevent this from happening again employers are continuing to invest in training despite the current economic climate.

It's been noted that Institute led training has advanced over the last few years with attendees at industry led events steadily increasing. There has been an accelerated growth of 'professional networking' and sharing thoughts/ideas with peers as most conferences now count towards validated CPD (Continued Professional Development) hours.

At a Senior level, Financial Controllers and Finance Directors have continued to invest in their own training and see the importance this has on steering their companies effectively through the recession.

Increasingly those finance professionals who have found themselves redundant have increased their networking profile and broadened their skill sets within other related business sectors moving away from pure finance.

Whatever stage of qualification, continual training and development in these tough times will enhance your skills and set you apart from your peers, ultimately providing more career development and job opportunities.

To ensure you can capitalize on any opportunity that presents itself, it is crucial that you keep an ongoing documentation of your studies, maintain an up to date CV and keep a constant eye on the industry trends and changes taking place.

This article was written by Tom Sangers on behalf of Martin Ward Anderson who provide recruitment for Accountant Jobs and Banking Jobs.

Article Source: http://EzineArticles.com/?expert=Tom_Sangers

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Finance and Accounting Job Tips!

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Among the best graduate jobs in the UK are graduate Finance jobs and graduate jobs in Accounting. Commerce degree holders have a large pool of employment opportunities waiting for them. There are plenty of these graduate jobs that they can go out and hunt for.

Whether they have taken up Mathematics, Economics, Accounting or Statistics in their universities or colleges, they have already revved up their chances of landing a job that will secure them a more or less stable financial status and a promising career.

Despite having a large option for employment, however, job seekers should acknowledge that the hunt for the best professional or graduate job in the UK is getting tougher and tougher. The number of qualified candidates is soaring, which makes the competition even fiercer.

The key is for you to look for the right job for yourself where you can use your qualifications on the job and then later on advance to the kind of career you have always dreamed of.

The UK has the best graduate finance job opportunities. Those jobs are even found in some of the largest and most established financial companies all over the world - Bank of America, Capital One, Barclays Capital, Credit Suisse, Fidelity International and Edward Jones Limited, to name some.

The job openings from these companies vary. Below are some of the best graduate jobs in Banking and Finance in the UK, and their primary responsibilities:

1- Financial Managers - provide financial advise to clients;

2- Stockbrokers and Traders - on behalf of the clients, stockbrokers and traders invest on various financial products;

3- Corporate Treasurers - they are in charge or improving and maintaining the finances of the respective companies that they are working for;

4- Investment Bankers - they are financiers for different companies, institutions and even government agencies;

5- Commodity Brokers - they buy and sell physical commodities;

6- Investment Analysts - they do the research and they gather information on investment opportunities for the Fund Managers;

7- Investment Fund Managers - getting the information they need from the Investment Analysts, they then assist their clients and give them advise on where to invest their money.

Before applying for a graduate job in the UK, you must first spend a lot of time on research, gathering as much information as you can to find out which of these career options is the best for you.

Take the time to review each job's description and responsibilities in order to make you decide whether or not you are capable and willing to take the job. Chances are, there might be one or more of the job opportunities mentioned above that attracts you.

If you are still undecided, you must try to asses yourself and your qualifications, and find out which one would be the best for you. If the excitement of buying and selling physical commodities attracts you, for example, then you might be picturing yourself as a Commodity Broker.

Or, if you wish to help people invest their money, an Investment Fund Manager position is probably the best for you. There are more graduate banking and finance jobs in the UK that you can apply for. All you have to do is look.

A large number of graduates of Accountancy and Actuarial find themselves taking jobs in public accounting firms. These jobs are paid internships that give the employees a great chance of gaining good experiences by working with different local agencies and companies.

After gaining as much experience as they can in the field, helping out clients prepare their taxes and file their tax refunds, most of these employees make their way to advance into higher or principal positions.

In order to do that, however, they must acquire a Certified Public Accountant (CPA) license. However, the best accounting graduate job is still to become your own boss. A lot of Accounting graduates and CPA's all over the world put up their own accounting firms after years of public service.

Do not allow yourself to get disheartened or confused when job hunting. Get your spirits up and take the whole race as a great learning experience. The options are endless for you and your fellow Commerce degree holders. The key to having the very best graduate job in the UK is looking for something that you imagine yourself doing. Ultimately, the decision is yours.

Please visit our website to learn more about Graduate Finance Jobs and Graduate Jobs in Accounting. You can find tips and other information that can help you win one of the best jobs in the UK.

Article Source: http://EzineArticles.com/?expert=Tom_Harel

Labels: accounting, business finance, tips job

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Maximize Your Company's Potential Through Finance and Accounting For Non-Financial Managers

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Some companies have enrolled some of their workers into courses which would help them gain knowledge that will help them branch out their abilities to other departments. There are actually courses which give employees basic knowledge about a different area. An example of this is finance for non-financial managers.

These types of managers can really gain a lot from this type of course. Because of this, they are able to understand various concepts about finance.

Having knowledge about finance and accounting is very important in business because these are what it's all about. Through this they are able to understand the concepts of finance and accounting and utilize them to make sound finance-related decisions for the company.

These types of lessons are especially designed for managers which do not understand the concept of finance very well.

During these financial and accounting lessons, the participants will be given a crash course on basic terms and concepts such as cash flow impact, trial balance, financial decision making models, fixed assets and depreciation, budgeting, various financial strategies, and a whole lot more.

Since these are specifically for non-financial managers, the lessons are constructed in such a way that it is easily understandable.

Finance and accounting for non-finance managers is really one great way to maximize the abilities of all of the company's workers. This kind of course equips the non financial managers to understand financial reports.

By understanding the reports made by the accountants, these non financial managers will be able to make comments that they deem important to improve the type of work being done by their accountants. Also, they will be able to foresee any financial problem that may arise in the future and take control measures to avoid these from happening.

If the workers are able to understand these financial concepts, then they can apply those to the work they are doing and will be able to handle various dilemmas which involve finance. This is a great way for them to be more productive and competent which not only benefits the workers, but the company as well.

http://www.cmoe.com/finance-for-non-financial-managers.htm

Article Source: http://EzineArticles.com/?expert=Bart_Icles

Labels: finance accounting, maximize company's, potential finance

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Why Finance & Accounting Outsourcing For Start-ups and Small Businesses

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It is not uncommon to see entrepreneurs struggling with spreadsheets, outstanding payments & invoicing issues, hiring admin staff and still spending lengths of time dealing with Accounting & reporting issues.

In today's hi-tech environment, businesses are generally very good at deciding which services to specialise in and which to outsource. However, Finance & Accounting support needs are often underestimated by small businesses.

With the exception to Payroll which usually gets outsourced all the other functions are either not fully performed or kept in-house at the mercy of unqualified staff.

This is mainly due to general lack of understanding within small enterprises of what Finance & Accounting functions are and how they support the business.

Big businesses benefit from a fully-running Finance department with dedicated Finance Directors, Financial Controllers, Management Accountants, Accounts Assistants for managing the more routine sales and purchase ledger tasks and Credit Controllers etc.

Small organisations can also benefit from having specialised skills in their pockets but due to small scale they generally opt for hiring an all-rounder to perform all the duties within their 'finance department'. This may work sometimes however for the most it does not provide the effective and efficient support a good outsourcing company can.

One of my clients, a classic modern small business with a turnover of circa £1million running in UK with its success owed to China and Google, had employed a part-time Accountant/Bookkeeper an all-rounder to support all the Finance & Accounting needs.

This model relied on one person and lacked checks and balances and the benefits of specialised skills input for the business. As a result there was inaccurate and untimely reporting, lack of compliance and controls as well as communication issues.

By switching to a finance outsourcing model, my client was able to enjoy the benefits of a fully functioning accounting department just like any big business and he also passed on the duty of care to the service provider.

Considering there are 4.8 million small businesses in UK*, the inefficiencies within these businesses can have a huge impact on the economy as a whole.

Riz Wasti http://www.2Econsultants.co.uk

Article Source: http://EzineArticles.com/?expert=Riz_Wasti

Labels: business finance, finance accounting, outsourcing finance

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