4 answers
Jaythean
Student
Lynn, Massachusetts
2
Questions
Asked
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What specifically goes in the to day to day work schedule of someone who works in finances, someone like a financial manager or a accountant?
I am a junior in High School and was very interested in pursuing a career in finances and was wondering about the specifics that went into the jobs in that field #career #career-choice #high-school
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4 answers
Shreya Mehta
Income Tax Accounting & Compliance
2
Answers
Randolph, New Jersey
Updated
Shreya’s Answer
This really varies by the company and by the specific role. In accounting, knowledge and understanding of accounting rules and journal entries (debits/credits) is required. Because of technology, accounting/finance jobs now require technology skills which can be acquired through the job. It can be a lot of inputting to software products used by a company and then reviewing the output. Often, you work with different organizations that require accounting information. You can add value by learning the needs of an organization because this allows you to think of creative, efficient ways of satisfying the requests of others in the company. Many of these requests are routine so efficiency is a must.
Christina Kohl
Auditor
3
Answers
Boston, Massachusetts
Updated
Christina’s Answer
Hi Jaythean! It definitely varies by the role and company that you are in. I am a senior associate at PwC, a public accounting firm, where I perform audits for my clients. Since my work is client driven, I spend my days working with my teams to learn about their business processes and how they report their financial information. We get to see how our clients account for unique business situations and, since I work with many clients, how different organizations operate. As an auditor, we look at the high risk and complex areas of organizations and perform testing. Additionally, to perform our testing, we use a great deal of technology to make our work more efficient. I work with many different people everyday within my own audit team and with my clients as there is always something new or challenging happening!
Dr. Sudeep Mohandas
Advisor, Board Member, Author, Soccer Coach, Consultant
43
Answers
Cockeysville, Maryland
Updated
Dr. Sudeep’s Answer
Depending on the actual role of the person in terms of employment level - manager, executive or general staff, the day to day will vary. This means the level of responsibility and accountability will grow as one grows in portfolio.
In the beginning it will all be about handling the receivables, payables and ledger. If the organization is small the transactions would be small and if it is large, the transactions would be many. Thus, the time in front of the Laptop or Desktop or at home will be hours. Since transactions will happen on a day to day basis, the work will add up and so , if one does not do the tasks for the day and complete it, it can spill over to the next day and increase the workload.
The other aspect is about ensuring whatever is done is in compliance to the internal policies and legal regulations. An organization would not want to be face to face with any ramifications and neither would the staff. So ensuring whatever is done by the finance or accounts person is aligned, legal, ethical and compliant matters. This will also add to the time taken in the day as one would have to send emails back and forth for clarification and to establish evidence and supporting documents.
Finally, the issue of management or supervision comes into play. If one is in charge of auditors, volunteers, interns or staff then it is also about ensuring time is allocated to attend to their issues and concerns as well as managing their own day to day performance and work done. Sometimes, such efforts can take more time than initially expected.
I hope this gives you a general picture of what a day to day would look like.
In the beginning it will all be about handling the receivables, payables and ledger. If the organization is small the transactions would be small and if it is large, the transactions would be many. Thus, the time in front of the Laptop or Desktop or at home will be hours. Since transactions will happen on a day to day basis, the work will add up and so , if one does not do the tasks for the day and complete it, it can spill over to the next day and increase the workload.
The other aspect is about ensuring whatever is done is in compliance to the internal policies and legal regulations. An organization would not want to be face to face with any ramifications and neither would the staff. So ensuring whatever is done by the finance or accounts person is aligned, legal, ethical and compliant matters. This will also add to the time taken in the day as one would have to send emails back and forth for clarification and to establish evidence and supporting documents.
Finally, the issue of management or supervision comes into play. If one is in charge of auditors, volunteers, interns or staff then it is also about ensuring time is allocated to attend to their issues and concerns as well as managing their own day to day performance and work done. Sometimes, such efforts can take more time than initially expected.
I hope this gives you a general picture of what a day to day would look like.
Talya Breen
1
Answer
Irvine, California
Updated
Talya’s Answer
Hi! Similar to Shreya's answer, they are many different finance roles such that each day-to-day varies. In my role, I work on forecasting month end performance, so I am constantly looking at trends, run rates, year-over-year, month-over-month, & week-over-week performance.