Accounting and Finance Industry Guide

Since the financial crisis, careers in accounting and auditing sector have benefited from sector restructuring and new business organization. Optimization of production costs, healthy financial situation is creating good opportunities. Controllers, auditors … Graduates may be employed by large specialized firms such as PwCErnst & YoungKPMGDeloitte (competition is tough, though) or directly in companies. Career prospects are very interesting, as well as salary progression (significant jump after only a few years of experience).

Accounting

Primary Industry: Accounting

Accountancy, or accounting, is the production of information about an enterprise and the transmission of that information from those who have it to those who need it.[1] The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in selecting the information that is relevant to the user and is representationally faithful. The principles of accountancy are applied to business entities in three divisions of practical art, named accounting, bookkeeping, and auditing.[2]

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Auditing

Primary Industry: AccountingThe general definition of an audit is an evaluation of a person, organization, system, process, enterprise, project or product. The term most commonly refers to audits in accounting, internal auditing, and government auditing, but similar concepts also exist in project management, quality management, water management, and energy conservation.
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Tax

Primary Industry: AccountingA tax (from the Latin taxo; “I estimate”) is a financial charge or other levy imposed upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many administrative divisions. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent.

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Management Accounting

Primary Industry: Accounting

Management accounting or managerial accounting is concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions.In contrast to financial accountancy information, management accounting information is:

  • primarily forward-looking, instead of historical;
  • model based with a degree of abstraction to support decision making generically, instead of case based;
  • designed and intended for use by managers within the organization, instead of being intended for use by shareholders, creditors, and public regulators;
  • usually confidential and used by management, instead of publicly reported;
  • computed by reference to the needs of managers, often using management information systems, instead of by reference to general financial accounting standards.

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Management Consulting

Primary Industry: Management Consulting

Management consulting is the practice of helping organizations to improve their performance, primarily through the analysis of existing organizational problems and development of plans for improvement. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and access to the consultants’ specialised expertise.

As a result of their exposure to and relationships with numerous organizations, consulting firms are also said to be aware of industry “best practices“, although the transferability of such practices from one organization to another may be limited by the specific nature of situation under consideration.

Consultancies may also provide organizational change management assistance, development of coaching skills, technology implementation, strategy development, or operational improvement services. Management consultants often bring their own proprietary methodologies or frameworks to guide the identification of problems, and to serve as the basis for recommendations for more effective or efficient ways of performing work tasks.

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Median Salary by Years Experience – Skill: Accounting (China)

Median Salary by Years Experience

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