Functional Areas of Business

Functional Areas of Business

My passion for mathematics has led me to choose two functional areas that require my skills, finance, and accounting. I am strong in fields that require problem solving, analytical, and mathematical competencies. Finance is trying to predict the future, whereas accounting is recording past information. Some companies merge these two functions into one department, whereas others prefer to maintain them separate. In general, they are separate because their purposes and roles differ.

Accounting

Using my competencies, I have the option of working for the accounting department in an organization. The well-known tasks of an accounting manager are to prepare statements, which include income, and cash flow statements, and balance sheet. The numerical values of these statements indicate how well members of the organization are completing the tasks they have at hand. An organization can be growing, stable, or declining (Coulter & Robbins, 2010). An accountant needs to notice the information, which is relevant, and those that are not. The information, which is relevant, follows the accounting principles set for the preparation of this statement. The statements are for the organization to keep record of the business, to make decisions when need, and for the outside organizations to have information about a particular organization.

Roles

Generally, an accounting manager is known as the one that makes the financial and tax statements for an organization, but they take many other roles in an organization. An accounting manager has to produce and transfer the information found in these statements. This means that accounting manager takes the task of researching and communicating to build these statements. In addition, an accounting manager should take the task of ensuring that the organization is ethical and legal (Albu & Gîrbină, 2012). For instance, an unethical accounting manager would put some numbers that make the organizations seem like it is prospering; meanwhile business is declining. When an accounting manager completes this action, his or her actions are deceiving, unethical, and unlawful. Furthermore, some accounting managers are advisors to the organization by advising the organization on how to meet their financial obligations (Linn, 1993). In other words, these accounting managers take the same role as a person in the finance department.

Finance

For those organizations that separate accounting and finance, I have the option of entering into the organization’s financial department. A member of a financial department needs to use the information provided by the accounting department