If you are currently at University, you may not have settled on a major yet, let alone decided what you want to be when you grow up. If you are good at math and have an innate curiosity about money, might I suggest jobs in finance and accounting? Accountants often wield a great deal of power within their organizations. Their guidance concerning operations, costs, and the financial trends they examine make those holding jobs in finance and accounts sought after managers. People who do well at jobs in finance and accounts are often hastily promoted up the corporate ladder.
Amongst the most exciting jobs in finance and accounts are those dealing with venture capital. Venture capitalists spend much of their time working with start ups or small companies demonstrating fast growth potential. Venture capitalist positions make up a subset of jobs in finance and accounts requiring not only the typical math and money skills necessary for any jobs in finance and accounts, but a willingness to take risks and a visionary streak that belies an uncanny intuition.
There are a number of different types of finance jobs you could get at an accounting firm, and the majority of them pay very well. Accounting firm jobs can be found in many areas across the country and even in other nations. So too are there online accounting firm jobs allowing employees to live anywhere they please, even on a desert island thousands of miles away from the corporate office, just as long as there happens to be wifi access on that island!
What exactly, though, does working for an accounting firm entail? To begin with, an accountant working at a standard accounting firm measures and discloses financial information that will aid managers, investors, tax authorities and other professionals to make informed choices as to the allocation of resources. Jobs at accounting firms provide workers with a great deal of flexibility during the off season, as well as an excellent paycheck.
The accounting industry was invented thousands of years ago, though ancient accounting practices did not resemble the kinds of work done in modern accounting firms. These days, there are a number of regulatory practices to which accounting firms must adhere. For example, FoFA, or the Future of Financial Advice, is a regulatory framework in relation to financial advice that is currently in the proposal stages. Another example of a regulatory body is the IPA, or Institute of Public Accountants, which is one of the three lawfully recognized professional bodies for accountants in Australia. These regulatory bodies help keep accounting firms on the straight at narrow.
For finance professionals working at accounting firms, self managed super funds require a large scale start up cost, meaning that self managed super fund rules are quite strict in regards to necessary set up and annual running costs, which work out to be about $200,000. Therefore, if you want to manage a super fund at an accounting firm, you must do your research and understand your legal responsibilities.