Business Analyst Accounting Career Guide and Counseling

Question: What course should I at least have for Business Analyst (BA) or Business Devpt Manager (BDM) positions? I can see there are bunch of opportunities for these roles. However, I am really confuse if what course/degree can be associated to these kind of functions. Is it accounting? Finance courses? Business Management? Thanks ~

Answer: A project Management class would be good as well as a database class along with other business classses.

Question: To work in the business field (i.e. accounting, financial analyst, etc.), do you need perfect credit? I would like to pursue my business degree, specializing in finance, but my credit history isn't perfect. I would say I'm in the 600's right now. I am definitely more responsible now but past mistakes that I'm paying on, keep my score low. I don't have any repos, bankruptsies or any public records issues. The only thing I have on my credit report is past delinquent/late payments that are now all current. Any help would be greatly appreciated.

Answer: It does not matter at all. The employers want proficiency in the field alone !

Question: What are the skills, experience & educational background required to become an Business Analyst in an IT Firm ? Hi, One of my friends has just been offered a position called Business Analyst in an IT firm. The problem is he comes from an non technical background (BBM + MBA Marketing + 1 Year experience in IT sales) and thinks that he should have strong technical background instead in order to be successful. I would like to hear from any professional business analyst or BA here in terms of: 1. How did you become a Business Analyst? Did you apply for it or just got it through experience within the organization? 2. What educational background they had had before becoming a BA? 3. What are is the job profile like? What does it involve? 4. What technical or other skills you need to have to become a BA? 5. Sometimes non-technical people are also offered the job of a BA, is that true or one needs to have a business/accounting/finance/management degree? Thanks..

Answer: 1. My job title is Quality Assurance Analyst, but I find myself doing a lot of the Business Analyst job for the project I am working on. I have been with the company about a year, and I am evolving into the BA role; it comes with more responsibility than the QA role. 2. I have a Bachelor's Degree in Information Systems and Decision Sciences from LSU. 3. The main focus for the BA is to gather requirements from the Customer. That is, you will be conducting weekly/daily meetings with the people that will be using the product that the IT firm is designing for them. For instance, lets say the Sales people from Company A want to be able to track their Sales online, you would meet with them frequently and document everything they needed the application to do. You will communicate these requirements with the Developers of the application as well as to others in the IT firm. 4. You can get by as a BA without much technical skill. I never have to do any programming, database maintenance, etc. The main skill needed is interpersonal/communication skills. You will serve as a liaison between the IT firm and the Customer, so you will need to know how to speak each group's "language" 5. You could become a BA with a non technical degree. I wouldn't let not having technical skills be a deterrent to taking the position. But if you are 'scared' of computers and technology or anything like that, I wouldn't take it. You will certainly need to be able to navigate the applications you are involved in.

Question: What business major should I choose for colleges? I'm interested in majoring in business. However I don't know about the job prospects of most jobs now after the economic crisis. There are so many majors. Can you tell me which one has job security and makes alot? Like Accounting, Financial analyst, International Business, Business Administration? Also, when I put an optional major on the common app, does it mean when I am accepted into that school, that school is going to give it to me and I can't switch??

Answer: In these times of lower job security, I would recommend the Accounting Degree and a minor in International Business, if you can. Our economy will more and more become a global one as referenced by China's new several Hundred-Billion dollar economic bailout that rallied the Asian stock market and stifled the free-fall of the American market as well. More and more we are looking at "we", as opposed to us and them, internationally. Also, with an Accounting degree, after obtaining your CPA, you are your own business. If times really get lean, you can always support yourself doing taxes(always in demand) or bookkeeping. Not glamorous, but it pays! Also, your school asks for an optional major on the app not to prevent you from switching, but to be able to assist you as far as course guidance. You can always change your major when you feel like it; unless, you must maintain that major as a part of a scholarship package or other major-based aid. For instance, if you received an Engineering scholarship and then changed your major to business you may no longer be eligible for that scholarship. Hope that helps!

Question: What is the difference between economics, finance, business degrees? Wondering what is the difference between economics, finance, business, marketing, accounting degrees. Can someone provide a very brief description of each? Also, which one would be the best option if I wanted to become an analyst for a firm like Goldman Sachs?

Answer: Economics: Studies and Analyzes the growth an economy and studies the production, distribution, and consumption of goods and services in that economy. Finance: Studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time. Business: How to make a legally-recognized organizational entity existing within an economically free country designed to sell goods and/or services successful. Marketing: The study of the social process which satisfies consumers' needs and demands Accounting: The art of measurement, statement or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies. If you want to be an analyst then you need a finance degree or an economics degree (at least a Masters/MBA). An analysts' work is math intensive.

Question: Major in Accounting or Business Admin? My university offers two business majors. Either a B.S. in Accounting, or a B.S. in Business Administration with any concentration (i.e. marketing, finance, etc.) Is a B.S. in Accounting with an additional concentration in Finance a better choice than a B.S. in Business Admin? It just seems like Business Admin degrees are a dime a dozen these days. Just so you know, I plan on getting an entry level job as a Financial Analyst.

Answer: Then go the Finance role. Business Admin degrees are primarily designed for people who want to do an admin/marketing career. As your career is starting in Finance, then you need to study a relevant degree. your Business Admin major will not help you get a position as a Financial Analyst.

Question: What does FIE stand for in cost accounting? Typically this might relate to SAP and / or manufacturing plant site locations for a business. Analysts and managers check this info out.

Answer: In cost accounting, FIE generally means Foreign Investment Entity or Foreign Invested Enterprises and are generally used to smooth accounting earnings.

Question: Should I go back school for Accounting Degree? I graduated BS in Computer Information System and MBA (general); I have been working almost 2 years as Business Data Analyst; however, i feel like most of the new job with descent pay i look for require accounting degree with an CPA; should i go back to pursade a BS accounting degree?

Answer: Hmm, I thought that people in Computer Information Systems made a lot of money. Maybe you just need to get a better job. If you are unhappy with your current salary, I would recommend applying elsewhere and negotiate for a higher salary. If you need to have a paycheck, try to lock in the other job before quitting your current job. I have a degree in accounting and I am eligible for a CPA. But I doubt that I have that much more money than you. You spent a lot of time in school, there's no need to spend any more time in a classroom than absolutely necessary.

Question: I have a degree in computer science as well as an MBA. What are my job prospects for this combination? I have 3 years of part time experience in computing, as i was working part time as a programmer while doing my MBA studies. Now that I have completed my MBA in Finance it is obvious I dont have the experience to move into management. Also, I hate programming, but not the field of computing. Should I try for an accounting designation? Or a Business Analyst type position? What are the usual jobs for this combination of education and experience?

Answer: I would suggest looking at a Financial Analyst position. You obviously enjoy finance. Though you don't like programming, your experience in it has provided you with a strength in working logically. You probably are also good with using software and would be able to write or modify programs to help you analyze data and trends.

Question: what sort of knowledge do i need in order to be a financial analyst? i have this interview next month for the possision "financial analyst" but i need to be prepared, how can i imrove my chances in getting this job? i already have a bachelor in economics + masters in business management i had some accounting principiles in my bachelor study, but i can barely remeber it ... thank for your advices in advance as a fresh graduate , i don't have any working experience in this field however, in the job description and requirement no experience is required, as there will be training i forgot to mention that it is an oil exploration and production company i am willing to read some text books , but not sure what subject(s) should i be focusing on ... this is what i am planning to do for the next month , so any advice on what should i be reading on?

Answer: Read up on the job functions related to financial analysts. Typically the acocuntant compile the financial statements and the financial analysts explain variance in numbers. Variances can be actual to prior period actual or actual to budget or plan. To answer these questions this requires the analyst to"drill" into the numbers to investigate and understand the drivers causing the variances. You will need to be familiar with the general ledger system, Excel Word and possible Access. Good Luck!