Saturday, 2 July 2016

John Haag - What is Public Accounting?

John Haag is a financial consultant with an extensive background in accounting and money management. He began his career as a manager for a public accounting firm, where he worked for five years in several different offices. Public accounting is a subset of traditional accounting practice, and can be a very stable and rewarding career.

Public accounting provides financial services such as taxes, audits, and other monetary reports for other businesses and individuals. Public accountants spend most of their time working on budgets, verifying financial documents, and planning for the future. Public accountants work for accounting firms, whereas private accountants are employed by individual companies. This means that public accountants manage many different jobs at the same time, whereas private accountants only work for one company. A CFA license is required for public accounting, whereas it is helpful but not necessary in a private job.

To become a public accountant, one must obtain a degree in finance. It is extremely important to have good analytical skills, as you will spend much of your time crunching numbers and reviewing budgets. The work hours as a public accountant can be brutal at times, but over the course of your career, you can work your way up to a rewarding salary and a partner position at a firm. Working in public accounting can also be a great gateway to other positions. John Haag started his career in public accounting, but later transitioned into investment banking and consulting. He now draws upon his financial knowledge to help his clients.