TABLE OF CONTENTS
Purpose, Scope and limitations1
Application for all job specialties1
Interpretation of results2
Sources and methods2
American institute of cpa’s3
The New York times3
Accountants next door4
Accounting is the language of business. It is the system of recording, summarizing, and analyzing an economic entity's financial transactions. Effectively communicating this information is key to the success of every business. Those who rely on financial information include internal users, such as a company's managers and employees, and external users, such as banks, investors, governmental agencies, financial analysts, and labor unions. Accountants must present an organization's financial information in clear, concise reports that help make questions like these easy to answer. Finance is the study of how investors allocate their assets over time under conditions of certainty and uncertainty. A key point in finance, which affects decisions, is the time value of money, which states that a unit of currency today is worth more than the same unit of currency tomorrow. Finance aims to price assets based on their risk level, and expected rate of return. Finance can be broken into three different sub categories: public finance, corporate finance and personal finance. Careers in accounting and finance are associated with very high salaries. A recent National Institute study identified accounting as the most lucrative of all degree courses in terms of graduates’ lifetime earning capacity When it comes to choosing a major you want to pursue, it is important that you pick a major that you will enjoy working in for the some part of your life. How does one make that decision? There are several different factors that play a role in choosing a major. When I looked into business for my intended major the first thing that came to my mind was not if I was going to enjoy working in some kind of business environment because I already knew I would like that. Instead I looked at other aspects or values that a business degree offers. More importantly, I looked at what concentration I wanted in business. For example the motivation to take finance major is informed by knowledge that it is an essential area of management as well as decision making that cannot be ignore by any business or organization that plans to be a going concern. Any decisions that are to be made at management level ought to put into account the likely ramifications of these decisions as the financial implications can render these decisions irrelevant. First the world right now is faced with a serious economic recession as well as ever fluctuating market prices. Organizations need to know the likely sources of credit facilities due to the ongoing credit crunch. Thus said, an appropriate evaluation of the credit facilities is necessary to determine the long-term implication of taking such credit facilities and thereby making a decision on the best of these facilities and thereby deciding which ones can be used in both the short run and the long term. To make these decisions, proper analysis by a financial expert is therefore necessary to help in making these decisions.
The accounting side of business is a very rewarding one for many reasons and especially if you love working with numbers. As a person you will enjoy setting up budgets and different types of financial statements and seeing of everything works together with that aspect of business. One of the values of being an accounting major is that the demand for accountants is high and it probably will not change. According to the website of the Princeton Review the accounting profession is to be growing very quickly and because of all the...