Advanced accounting refers to the specialization and higher education within the field of accounting. Advanced accounting may include a master\'s degree or certification in one of the following fields: forensic accounting, accountant controllership, or accounting information systems, among others.
Embezzlement, securities fraud, bankruptcies, money laundering and organized crime are the bread and butter of the forensic accountant. Forensic accountants are experts in advanced accounting and are hired to follow the trail left by criminals who perpetrate white collar crime. According to the U.S. Department of Labor, forensic accountants combine their knowledge of advanced accounting and finance with law and investigative techniques to determine if there is illegal activity going on. They also work with police, FBI, and other law enforcement personnel during investigations and appear as expert witnesses in court.
Accountant controllership is another field of advanced accounting. Controllers are accountants trained in both accounting and management. Controllers serve in executive and administrative positions and are responsible for the accounting affairs of the company, as well as managerial decision-making. The controller interprets accounting and financial data and presents it to the executive team who then use the data to make decisions. An advanced accounting degree is usually required to become an accounting controller.
Accounting information systems
Accounting information systems is another branch of advanced accounting. Individuals with training in accounting information systems use computers to generate, record, and organize accounting data for clients and companies. Their expertise in computer hardware, software, and programs requires extensive computer training, as well as advanced accounting skills.
Publish date: February 10, 2011