Can I transition to corporate finance with a background in Accounting?
Hi everyone! I’m considering pursuing a degree in Accounting, as my plan is to earn my bachelor’s and obtain my CPA. While I aspire to become an accountant, I also want to keep my options open for potential shifts into roles like FP&A or similar fields. I’m aware that some Accounting positions in Canada are becoming quite saturated, which concerns me. I’ve been told that an accounting background provides a solid foundation for business knowledge, so am I making the right choice by following this path?
One response
Absolutely, you’re making a solid choice by pursuing a degree in Accounting, especially if you’re considering a future in corporate finance. An Accounting education provides you with a strong foundation in financial principles, analysis, and reporting, which are crucial skills in various roles, including FP&A (Financial Planning and Analysis).
Here are a few points to consider:
Transferable Skills: The skills and knowledge gained from an Accounting background—such as financial analysis, budgeting, and understanding of financial statements—are highly relevant in FP&A and corporate finance roles.
Networking Opportunities: While pursuing your degree and CPA, make sure to connect with professionals in both accounting and finance. Networking can open doors to internships and entry-level positions in FP&A, which will give you valuable experience.
Additional Qualifications: Consider pursuing relevant certifications or courses relevant to corporate finance, such as CFA (Chartered Financial Analyst) or FP&A certifications. These can enhance your resume and demonstrate your commitment to a finance career.
Job Market: While it is true that some areas of accounting might be saturated, the demand for skilled finance professionals, including those with an accounting background, remains strong. Companies often value candidates who can navigate both sides of the finance equation.
Flexibility of Your Career: Starting in accounting can give you perspective on the financial workings of a company, and you might find that you can leverage that knowledge in FP&A, corporate finance, or even in other areas such as management or strategic planning.
In summary, your plan to study accounting and obtain your CPA is a strong move that will keep many doors open for you in both accounting and finance. Best of luck in your studies—you’re on the right track!