Here are some tips to help you succeed in accounting and finance

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Written By DerrickCalvert

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Finance approached me as a young professional. After finishing my undergraduate degree in Electronics in 2014, I didn’t plan to pursue an engineering career; rather, I sought employment that would allow me to utilize my creativity, business acumen, and communication abilities. Finance proved the perfect fit for me! My first job as Project Controller was a surprise to me; I hadn’t planned on pursuing an accounting or finance career until reaching out to a 10th-grade teacher who could explain an income statement and teach basic accounting principles. My finance career started by accident, yet I have loved every minute of it for six years. City of Hope believes in the power of hope and is dedicated to making that vision a reality. Every person at City of Hope contributes their unique skillsets towards fighting cancer and diabetes with passion. City of Hope is the ideal destination for you if your passion lies in clinical, business or science support services. Here, you can collaborate with some of Accounting and Finance Jobs brightest and most talented colleagues, take on challenging tasks, and make a difference in people’s lives.

A mentor is someone who can assist you in honing your leadership skills and using their networks and connections to further your career.

  • Extend Your Skillset. Don’t limit yourself to one area of finance. Having a diverse set of abilities will increase your marketability and reduce risks in an ever-evolving business environment, especially due to technological advancements.
  • Tech-Savvy: Technology can be leveraged to boost efficiency and streamline processes, giving you a competitive edge in your daily finance job. This knowledge will add significant value to the work that you do.
  • Team Player. As your career progresses, it is essential that you gain experience managing people and are capable of working collaboratively with colleagues from other industries.
  • Be open to change – Finance professionals must be able to adjust in today’s rapidly transforming business climate.
  • Advance Your Knowledge – Strive to stay ahead of the competition by staying current on accounting and finance trends. Staying competitive requires taking ownership over your education.

Stay on the right path of your career path

Career growth is a competitive process. We all want to win, but on our terms. However, winning won’t come naturally if you are on the wrong path. For instance, if your skills and abilities are better suited for FP&A (Financial Planning & Analysis), Compliance jobs won’t bring much joy in comparison. Finding the right track and industry for you is the first step on your journey towards a career in Finance/Accounting.

Discover What Really Matters

People are divided on whether a formal education is beneficial for their career progression. But employers still value education. If you are just out of college without any work experience, an educational degree will be essential. Furthermore, if you want to build a career in finance, an undergraduate degree in Finance is absolutely essential.

Let’s say you are a mid-career professional with an interest in finance. Part-time education could be the ideal route to pursue this pursuit; by earning an appropriate educational degree, you will be able to affirm your enthusiasm.

Additional Qualifications

Reach out to people who have completed these courses to determine the right additional qualification for you. They can explain the advantages and drawbacks of each qualification, as well as how it has benefited them in their careers. This is an ideal starting point for online research if finance certifications are your interest.

Analyze and Solve

Finance has always been a quantitative-oriented career choice. Finance professionals need to be able to analyze large amounts of data, as it’s becoming the new oil. Today’s finance professionals deal with both structured and unstructured information; structured refers to data created within your company through internal ERP/reporting software; unstructured includes everything outside such as market trends, consulting reports, social media posts, news articles etc., that may affect you negatively or positively.

Always Think Value-Add

In Finance, the shift from cost-saving strategy to value-enhancing approach has been a revolutionary development. Financial controllers used to be constantly seeking ways to reduce expenses and boost profitability – which meant focusing more on supply-side activities. Now with SaaS and subscription models on the rise, Finance can now influence demand for profitability through influence over costs.

How to Find Mentors in Your Company

Are you searching for mentors within your company? Luckily, there are plenty of resources available.

You should aim for people two levels higher than you in your finance department. For Financial Planning & Analysis, that could be Head of FP&A; while banking could be Senior VP. Discuss with them how spending 20 minutes each month with them could benefit both of you – discussing experiences and learning more from them is beneficial. Leaders are eager to impart their knowledge with younger employees, so find these individuals within your company and discuss mentoring options together.