If you are considering accounting but want to keep your options open, a master's in business administration with a concentration in accounting can be a better alternative to getting a master's in accounting. An MBA will give you transferable skills that will give you more flexibility in choosing different careers that are related to accounting. There are also a number of careers that use the skills taught in accounting classes that are not strictly limited to crunching numbers or auditing financial documents.
A financial analyst works for a company and is responsible for increasing profits and minimizing the potential for losses through research. Financial analysts study potential new markets for products as well as other investment opportunities, including investing in other companies to try to maximize profits. Financial analysts can also work on special projects involving multinational companies to determine how best to pay for company growth.
Investment bankers help clients manage their money. Their clients can be extremely wealthy individuals or companies seeking advice on managing their cash flow or raising money for expansion. The investment bankers work to bring companies that need funds for growth together with investors through stock or bond offerings. You can get a job as an associate at an investment banking company with an undergraduate degree. However, to rise in the company you will usually need an MBA.
Corporate controllers collect information about a company's finances and put the information together in a report showing how the company is doing. The controller will also prepare any reports required by regulatory agencies such as the Securities and Exchange Commission.
Cash managers are in charge of making sure suppliers are paid on time and customers pay on time. Cash managers will collect information about suppliers and providers and may suggest changes to policies, such as an increased late fee, a bonus for paying early or stricter credit requirements for customers, to help ensure that payments are received on time.
Financial planners work with individuals to determine how to protect and increase the wealth that they have. Financial planners can help people plan for future expenses like college tuition for kids and retirement planning options. Financial planners also help people to determine how to minimize their tax liability, especially in later years of customers' lives, so they can pass on as much wealth to their children as possible.