KAustin
The Positive Effects of Accounting in the Community
Since I was a young teenager, I have always strived to become and succeed as an
accountant. According to the American Institute of Certified Public Accountants (AICPA),
accounting is defined as the art of recording, classifying, and summarizing in a significant
manner and in terms of money, transactions and events which are, in part at least, of financial
character, and interpreting the results thereof. Numbers have a true or false identity with no
middle ground to discuss. Around the world, accountants are known as money and number
intelligent people that can sort through a company’s finances and correct any mistakes along
those lines. From protecting the financial rights of an individual to a multi-billion dollar
corporation, accounting is relevant to protecting and serving society. Accounting has a function
in the service of the community.
In the accounting world, auditing is a crucial job for the regulating of cash flow in and out
of a business. An audit is an evaluation of a person, organization, system, process, enterprise,
project or product. Auditing enables an accountant to look into the deep roots of a business to
check for any mistakes or misconceptions that have occurred in a certain time frame. For
instance, an accountant could be compared to a surgeon who performs surgery to find any
disease or problem with the human body. Auditing creates reliability to a certain business’s
financial information; as of late, auditing includes environmental concerns and security issues.
For example, Enron Corporation is a company that tried to get away with fraudulent financial
information so that the leaders of the corporation could escape with no monetary loss. In 2001,
Enron created false claims that stated the financial status of the company was well under control
and experiencing growth. However, the company was lying, and many people lost... [continues]
The Positive Effects of Accounting in the Community
Since I was a young teenager, I have always strived to become and succeed as an
accountant. According to the American Institute of Certified Public Accountants (AICPA),
accounting is defined as the art of recording, classifying, and summarizing in a significant
manner and in terms of money, transactions and events which are, in part at least, of financial
character, and interpreting the results thereof. Numbers have a true or false identity with no
middle ground to discuss. Around the world, accountants are known as money and number
intelligent people that can sort through a company’s finances and correct any mistakes along
those lines. From protecting the financial rights of an individual to a multi-billion dollar
corporation, accounting is relevant to protecting and serving society. Accounting has a function
in the service of the community.
In the accounting world, auditing is a crucial job for the regulating of cash flow in and out
of a business. An audit is an evaluation of a person, organization, system, process, enterprise,
project or product. Auditing enables an accountant to look into the deep roots of a business to
check for any mistakes or misconceptions that have occurred in a certain time frame. For
instance, an accountant could be compared to a surgeon who performs surgery to find any
disease or problem with the human body. Auditing creates reliability to a certain business’s
financial information; as of late, auditing includes environmental concerns and security issues.
For example, Enron Corporation is a company that tried to get away with fraudulent financial
information so that the leaders of the corporation could escape with no monetary loss. In 2001,
Enron created false claims that stated the financial status of the company was well under control
and experiencing growth. However, the company was lying, and many people lost... [continues]
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