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| Name | Accounting vs Finance — Which Career Choice Is Right for You? |
| Video Uploader | Video From 365 Financial Analyst |
| Upload Date | This Video Uploaded At 23-02-2024 13:46:59 |
| Video Discription | 🚀 𝗦𝗶𝗴𝗻 𝘂𝗽 𝗳𝗼𝗿 𝗢𝘂𝗿 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗧𝗿𝗮𝗶𝗻𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝟱𝟳% 𝗢𝗙𝗙 ➡️ https://bit.ly/3SPJ29y BONUS Resources: • Blog Post: How to become a financial analyst: https://shorturl.at/cotX2 • FREE Course: https://shorturl.at/gqsH3 • FREE Finance Resources (templates, cheat sheets, course notes, etc.): https://shorturl.at/fjwS3 • Finance Projects to practice your skills on: https://shorturl.at/bot57 • Resume Builder: https://shorturl.at/kmGIK The worlds of accounting and financial analysis are both complex and rewarding—each with unique challenges and responsibilities. Accounting is all about recording and reporting a company's financial transactions, providing a rearview mirror perspective of its fiscal health. Picture accountants as financial historians and detectives, meticulously piecing together each transaction. Their aim? To craft a transparent financial narrative through statements. Finance, on the other hand, is forward-looking. It's about using those financial statements to make projections, strategize, and steer the company's future financial direction. In a sense, financial analysts are the navigators and forecasters. They take the accountant's work and probe deeper, using those numbers to forecast what's ahead, identify growth opportunities, or even areas where cost-cutting is needed. Basically, their role begins where the accountant's ends. But we're not just here to discuss roles. We’ve got some exclusive insights for you. Stick around for a special segment with ready-to-use resources and boosting career advice to help you get started in finance. Now, let’s talk about the roles of financial analysts and accountants in terms of risk management. Accountants focus on preventing errors in financial reporting, guarding against inaccuracies that could lead to bad decisions or legal troubles. Meanwhile, financial analysts grapple with the unpredictability of the future. A wrong forecast can spell disaster, like overproduction and financial losses. But how do such professionals approach problem-solving? Accountants thrive on precision, making sure every financial record aligns with standards such as GAAP or IFRS. They tackle complex issues like deciding when revenue from a big sale should be recognized and whether it’s properly accounted for and reflected in the financial statements. Financial analysts, however, are strategic forecasters, using data to predict market trends and consumer behavior, blending hard data with educated guesses. For example, they might analyze how a shift in consumer preferences could impact future sales—turning information into insights for decision-making. Now, what can you expect to earn in these fields? Financial analysts have a median annual salary of around $95,000, with top earners making over $169,940. Accountants, meanwhile, average around $78,000 a year, with the top 10 percent earning more than $132,690. Remember, these figures can vary based on experience and the sector you're in. For instance, financial analysts in investment banking typically start with higher salaries compared to those in other sectors. Education-wise, both careers generally begin with a bachelor’s degree in related fields like finance, economics, or business. Advanced degrees and certifications, like an MBA for financial analysts or a CPA for accountants, can significantly boost your career prospects. Credentials hold significant importance for accountants and financial analysts. The Certified Public Accountant (CPA) designation—especially critical for accountants—represents the most prestigious and esteemed title in finance, symbolizing extensive knowledge of US public accounting standards and practices. On the finance side, while many analysts may also be CPAs, the Chartered Financial Analyst (CFA) designation is more prevalent and tailored to their profession. The CFA focuses on investment decision-making, unlike the CPA, which is more oriented towards public accounting. CFAs are experts in managing investments and making informed financial decisions on behalf of clients or employers—demonstrating mastery in a wide range of investment-related topics. We’ll continue to share tutorial videos to help you on your journey to landing your dream job. Please 𝗹𝗶𝗸𝗲, 𝘀𝗵𝗮𝗿𝗲, 𝗮𝗻𝗱 𝘀𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗲 𝘁𝗼 𝘁𝗵𝗲 𝟯𝟲𝟱 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 if you find this video helpful. ► Visit our website: https://bit.ly/46xFPzd ▶ Follow us on LinkedIn: https://www.linkedin.com/company/6885099 ▶ Follow us on Facebook: https://www.facebook.com/365financialanalyst/ ▶ Follow us on Instagram: https://www.instagram.com/365financialanalyst/ . . . #365financialanalyst #careerinfinance #careerpath #finance #financialplanningandanalysis #learnfinance #cfaexam #cpa #frm #cfp #learn365 |
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