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A common question that many accountants will come across in their career is how to transition out of accounting and into a finance or FP&A role?
While accounting can be a rewarding career for some, for many, there comes a point where there isn’t much more to be gained by staying in the field. Yes, we know all the rules, guidelines, best practices, etc., but if you’re like me, you know there is a clear limit to how far you can go on a pure accounting path.
At a certain point in time, the pedantics, the overly specific rules, and regulations leave little to be desired in the accounting field as we look to advance from entry-level to mid and senior-level employees. We want to have an impact and to feel like what we do matters. In many cases, reconciling GL balances to the penny doesn’t quite do it; we want to be involved with the organization’s strategic direction and feel like we can have a real impact. The same monthly routine, box-checking, and follow rules that lack common sense principles can grind your soul to a pulp.
A background in accounting is an incredibly valuable asset when it comes to changing paths. To succeed in finance, you must know the basics of debits and credits, accruals, revenue recognition, COGs, Inventory, balance sheets, and income statements. Finance professionals…
