Careers In Accounting 1 Careers in Accounting Donna Hinton ACC100355VA016-1174-001: Professor Sunshine Jingozian Date: May 19, 2017 Careers In Accounting 2 Introduction In contemporary society, the demand for accountants have been on the rise due to new government regulations, new accountant’s standards, and increased globalization. The demand for certified public accountants basically focuses on protecting the public from fraud and the mismanagement of financial statements. Additionally, accountants provide tax expertize services; maintain organization financial records, audit organizations, and structures organization budget. The Wall Street Journal ranked the accounting jobs among the top 20 luxurious job based on physical demand, the level of income, job outlook, and work environment (Block, 2012). As such, this paper engages into in-depth analysis of forensic and managerial accounting as an individual accounting career option. Lastly, the paper identifies corporate controller as a career position and discusses the values that corporate controller adds into organization. Career Options Forensic Accounting The Bureau of Labor Statistics estimates that by the year 2022, accountants and auditors job would have grown by 13% (Bureau of Labor Statistics, 2015). Essentially, it is estimated that forensic accounting jobs will correspond to the 13% growth due to the increasing financial regulations and higher demand for investigative auditors (Bureau of Labor Statistics, 2015). As such, one needs to attain minimum a bachelor’s degree in accounting and Certified in Financial and Forensic credential from American Institute of Certified Public Accountants so as to venture into forensic accounting career (Association of Certified Fraud Examiners, 2017). Additionally, it is important for accountants to attain certificate in Certified Fraud Examiner or Certified Forensic accountant so as to become fraud investigator or a legal court advisor as to financial matters (Seda 2015). Careers In Accounting 3 In contemporary society, the primary goal for forensic accounting is objective verification (Mukoro, 2013). As such, majority of forensic accountants testify in courts proceedings as expert witnesses for either prosecution or the defense. For this reason, it is expected that forensic accountants in fraud investigation and legal advising assignments need to be of quality so as to withstand scrutiny by judges and juries. Generally, successful forensic accountants in fraud investigation and legal advising are attributed towards creativity, ambitious, persistence, and highly organized when it comes to application of financial skills, and investigative mentality towards financial investigations and resolving financial legal issues (Imoniana, 2013). Managerial Accounting Managerial accounting basically focuses on internal users across the organization, thus organization executives, product, and sales managers (lard, 2012). The organization internal users use the accounting information to make essential decisions across the organization. Firstly, managerial accountants are expected to make future projections for a unit in an organization. Secondly, managerial accountants are expected to come up with a detailed data showcasing aspects such as product profitability and losses across the organization. Lastly, managerial accounting information is positioned based on non-financial measures. As such, it can be argued that managerial accounting provides an in depth financial and non-financial data across executives and managers purposefully for decision making, planning, and controlling (Business Focus, 2016). To become a managerial accountant, one must attain an adverse certificate in Certified Management Accountant (CMA) among other business and finance credentials. Careers In Accounting Accounting Position Corporate Controller In corporate organizations, corporate controllers are responsible for overseeing all features of financial activities in organization, periodic close cycle and accounting & public market financial operations (Ahid, 2012). Skills required for corporate controller includes CPA, imperative experience in preparing financial statements, BA/BS minimum education, comprehensive knowledge of US GAAP, ability to proactively identify and solve financial problems, and treatment of accounting complex issues such as revenue recognition, stock compensation, and fair value. Consequently, the ability to transition companies from private sector to public is highly commended. Value of Corporate Controller in Organizations Corporate controllers add value across the organization by providing accurate financial information that adheres to stringent regulatory control, and reporting requirements of public companies (Forbes Insight, 2016). As such, the corporate controller positons the company into a good standing and provides valuable information to the company shareholders. Lastly, organizations attain financial goals through corporate controller preparation of the organization taxes, management of organization budget, and overseeing employees working in financial department. Conclusion Conclusively, forensic accountants play pivotal role in curbing crime across public financial sector. For managerial accountants, their provision of financial and non-financial information’s is expected to comply with US Generally Accepted Accounting Principles that advocate and adhere to accounting regulations. 4 Careers In Accounting 5 References Association of Certified Fraud Examiners. (2017). Together, Reducing Fraud Worldwide. Retrieved from http://www.acfe.com/career-path-forensic-accountant.aspx. Ahid, M. (2012). The Roles and Responsibilities of Management Accountants in Era of Globalization. Global Journal of Management and Business Research, vol. 12, no. 15, p. 44. Retrieved from https://globaljournals.org/GJMBR_Volume12/6-The-Roles-andResponsibilities-of-Management-Accountants-in.pdf. Block, K. (2012). The Accounting Profession: A View from a College Student. Retrieved from http://www.wicpa.org/Content/Files/PDF/Acct%204%20Future/Kevin%20Block%20article% 20doc%20ch.pdf. Bureau of Labor Statistics. (2015). Accountants and Auditors. Occupational Outlook Handbook. Retrieved from https://www.bls.gov/ooh/business-and-financial/accountants-andauditors.htm. Business Focus. (2016). Managerial Accounting: An Overview. McGraw Hill Higher Education. Retrieved from highered.mheducation.com/sites/dl/free/007802563x/.../gar2563X_ch01_001_026. pd... Forbes Insight. (2016). The Transformative Controller. Adding Value, Insight, and a Bridge to the Future. P. 5. Retrieved from https://home.kpmg.com/content/dam/kpmg/pdf/2016/05/forbes-transformativecontroller.pdf. Careers In Accounting 6 Imoniana, J. (2013). The Forensic Accounting and Corporate Fraud. Journal of Information Systems and Technology Management, vol. 10, no. 1. Retrieved from http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1807-17752013000100008. Lard, B. (2012). Accounting for managers. Retrieved from https://2012books.lardbucket.org/books/accounting-for-managers/index.html. Mukoro, D. (2013). The Role of Forensic Accountants in Fraud Detection and National Security in Nigeria. Journal of Change and Leadership, no. 91, p. 92. Retrieved from manager.faa.ro/download/721_1710.pdf. Seda, M. (2015). A Comparison of U.S. Forensic Accounting Programs with the National Institute of Justice Funded Model Curriculum. Journal of Forensic and Investigative Accounting, vol. 7, no. 2, p. 144. Retrieved from http://web.nacva.com/JFIA/Issues/JFIA2015-2_6.pdf. 
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