Is It Important For A Financial Person To Choose An Industry Or A Professional?

As an old bird in the accounting field for more than 10 years, this problem has not been clear in my mind for nearly two years.

I remember when I was doing accounting or in the 90s of last century, my recognition of "accounting" was that it was both a profession and an industry.

According to the traditional occupation division, no matter which company does not need accountants, do not make a statement according to a set of accounting standards, and there are so many accounting firms, accounting itself is an industry.

It is relatively easy for a financial officer to work across the industry within 5 years after graduating from university. But as age and experience grow, there is more and more "career path dependence". In the eyes of recruitment companies and headhunting consultants, each job seeker's CV is labeled at least two: Industry (such as manufacturing, retail, real estate, energy, etc.) and professional expertise (such as taxation, budgeting, internal audit, accounting, etc.).

In the increasingly large scale, increasing management level, and increasingly seeking to maintain sustainable competitive advantage and value creation, "big companies", both internal control and financial accounting, have been standardized. For financial accounting, this supplementary logistics department is no longer the traditional "accountant" and "wealth manager". It only accounts for the traditional accounting functions such as accounting, reporting, capital operation, and tax filing. It can no longer meet the needs of supporting enterprise development and value creation. Many financial departments of excellent enterprises have set up a lot of jobs that need to support business departments and management decisions, so the accounting profession has been increasingly subdivided, if the functions of the financial sector are more extensive,

Expecting more support for business and management decisions, the finance department must understand the company's business models, products and management processes, all of which are different because of different industries.

Such industry experience is important in the professional experience of accountants.

These factors not only produced new industries such as the Internet and real estate development, but also made many innovations and changes in the traditional business models. For example, the traditional retail industry used the Internet technology to develop e-commerce channels, and the integrated sales strategy of online ordering and offline experience. These changes have made many new types of pactions in the daily operation of enterprises. Even accounting is not as simple as the traditional mode of operation. Let alone those positions such as cost management and analysis, such as cost analysis and control, budgeting, internal performance management report preparation, investment project argumentation, etc., the methods and perspectives of doing these jobs in different industries are quite different, and the reproducible performance of the same field in different industries has been reduced a lot. On the other hand, compared with the 80/90 in the last century, the development of information technology, the third industry and the change of China's industrial structure are

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The budget of manufacturing enterprises is derived from the business plan, and the business plan stems from the strategic plan of the enterprise for 3-5 years. But in the Internet Co, CEO does not necessarily know what will happen in this industry after 3-5 years. It is good to understand the layout of the 1 year business. Some Internet Co even have no profit model yet.

Besides, the difference between cost management industry is more obvious, and the cost accounting we learned in schools and various textual research process is just the production cost of manufacturing industry. However, different industries not only have different operation modes, but also invest different resource elements. The cost accounting of innovative industries, light asset industries, and goods free circulation industries may be simpler than traditional manufacturing industries, but the management accounting work of cost control, planning and forecasting is probably interlaced.

Therefore, this is a warning to the accountants who are still diligent in changing jobs in different industries: when you are based on the development of large cities with diversified industries and talents, if you rotate in different industries for more than ten years, your experience will be greatly discounted in the external talent market, especially in the senior level of applying for managers.

Because each company only values your experience and its related industries, and it is best that your current job is related to it.

Of course, this is not so evident in the underdeveloped cities of the central and western part of China, because there are few large cities and few talents in the central and western cities. It is not easy to form a multi-dimensional segmentation of the talent pool. What's more, those cities have a single industrial structure, and there are not so many emerging industries. The experience of the industry is not so important.

However, if the big cities in developed areas are not satisfied with the small businesses with simple service functions and primary accounting posts at the grass-roots level, accountants must understand that on the way of career development, the industry has a higher priority than professional, because for the employers (i.e. enterprises), they are the business lines with clear human resource requirements (i.e., the industry structure), and the employees (i.e. job seekers). Our profession (i.e. the ability structure) is embedded in the industry structure of the employers. As soon as possible, we choose a large category of industries for ourselves, and persist in the accumulation of future career advancement, such as growth as the chief financial officer.

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