I chose Petroleum Engineering, because it is a fascinating field in engineering which helps the community by providing a supply of power in an efficient manner. Additionally, it is a job that is bountiful in Texas and as a plus the pay is amazing.…
Accounting is one of the five business disciplines that we have talked about in business 101 and I think that is the major that I am going to pursue. “Accounting is the measurement, statement, or provision of assurance about financial information primarily used by lenders, managers, investors, tax authorities and other decision makers to make resource allocation decisions between and within companies, organizations, and public agencies” (Wikipedia). Accounting is a key business discipline underpinning decision making in all organizations from the largest business to the smallest charity. An understanding of the subject would be very useful to anyone contemplating a career in management as well as to those who intend to pursue a career in accounting. In college, students need to decide on a more specific field of accounting. An accountant has many choices as to what particular field of accounting to specialize in depending on the financial information they want to analyze and how it is done. Financial accountants, tax accountants and internal auditors are all accountants in general, but require different training and work methods. A financial accountant records economic data and periodically prepares reports that show profit and other financial information of a company using the generally accepted accounting principles. The need for financial accountants is to reduce agent problems by monitoring agents’ performance and reporting the results to interested users. Financial accountants are basically used to prepare accounting information for people outside the organization or they are not involved in the day to day running of the company. A tax accountant prepares yearly tax returns for individual clients. For businesses, the tax accountant must provide data for the company’s tax returns. In many places, accountants must abide by national tax laws and regulations, but no requirement is in the US. Auditors are sponsored by the Institute of Internal Auditors…
Accounting is the study of how businesses track their income. Identify business goals and activities; describe the role of accounting in making informed decisions, the uses and organization of financial performance over an accounting cycle. Accountants engage in a wide variety of activities besides preparing financial statements. They spend a lot of time learning how to make the business profitable. Therefore, an accountant is perfectly positioned to become a Chief Financial Officer (CFO; the executive who is responsible for financial planning and record keeping for a company) because he or she probably has the understanding of what drives business and profits in a company.…
In the present time, accountants have a more complex role in the business world. As an accountant, you must posses all the skills of a bookkeeper, but in addition to that, an accountant must be able to use the information provided by the bookkeeper to produce and communicate clear statements and reports. The Oxford Dictionary of Business & Management states that “wherever accountants work, their responsibilities centre on the collating, recording and communicating of financial information and the preparation of analysis for decision making purposes”. By this comment, we are able to see the complexity of an accountants role in business and understand the services they provide.…
Accounting is the language of business. It is an information system that identifies, records, and communicates the economic events of an organization to interested users, both internal and external. A student majoring in accounting has a variety of career options available in public accounting, private industry, consulting, and government.…
Accounting is the information system that measures business activity, progress the data into reports and communicates the results to decision makers. And accounting is the language of business. The better you understand the language of business the better you can manage your own business. For example, how will you decide whether or not to borrow money? You to consider your income and whether or not you will be able to pay back that loan.…
Accounting is the language of business. Accountants help make sure that individuals do their taxes, get their financial statements made correctly. The job description of an accountant includes making financial statements, fixing general ledgers, and helping their clients with taxes during the tax season. Accountants have to have specific education, which can include a bachelor degree and the CPA exam. Many accountants absolutely love their job and wouldn’t change it for the world.…
Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions including computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial performance, tax strategy, and health care benefits management. There's a lot to get out of a career in accounting. The basics of how a business works will be learned. The field of accounting offers stimulating and challenging work that is constantly evolving. Because accountants spend a lot of time looking under the hoods of businesses…
The role of an accountant is to check, summarize, present, analyze and interpret the accounts for the benefit of the owner and other interested parties. Key responsibilities of an accountant are the preparation and analysis of financial reports which include income loss statements, tax return issues and balance sheets. They may also offer services to the public in need of financial advice and expertise. Accountants also act as management and corporate caretakers, taking care of small business matters. Accountants perform a wide range of tasks like tax advice and assistance in order to complete your tax returns.…
What is accounting? Known as the “language of business,” accounting is the system of analyzing and verifying summarized business/financial transactions and reporting their results. Accounting is more than just adding numbers and being good at math. Accountants have to “ensure that financial records are accurate and that taxes are paid properly on time.” (Bureau of Labor Statistics [BLS], 2012, para. 1). There are several different types of accounting. These types include, auditors, forensic, public, tax professional, financial advisor, and consultants. It takes a lot of hard work and dedication to become an accountant. You have to go through years of school to earn your degree, already have previous work experience in the area in which you want to work in, and be able to pass a series of exams in order to get your license. Let’s read more about it.…
Accounting is a service activity. Its function is to provide quantitative information, primarily financial in nature, about economic entities, that is intended to be useful in making economic decision.…
Accountants analyze and interpret financial information, prepare financial statements, conduct audits, design accounting systems, prepare special business and financial studies, prepare forecasts and budgets, and provide tax services. Double-entry bookkeeping records the economic activities of a business. Accounting includes bookkeeping but duties are far greater than it.…
An accountant's job is to record, analyze and report a company or individual's financial status. The accountant functions as an advisor. The client reviews the bookkeeping services and what accountant is telling them about their financial state to make adjustments as needed. More specifically, an accountant keeps accurate…
In the simplest terms, the role of the accountant is to keep track of the financial situation of a company, with the two most basic concerns being the solvency (the ability of a company to pay its employees and other costs of operation) and the profitability. (2) To remain in business a company must be able to pay its payroll and its bills- this has to do with making sure the business has adequate cash on hand at any time to pay the expenses required for ongoing operation. The main goal of most businesses is to make money- so the accountant’s role includes analysis of business activities from the point of view as to how they contribute to the ability of the company to show a profit.…
In addition to determining what you're good at, a skills assessment also helps you figure out what you enjoy doing. The skills you use in your career should combine all characteristics. You can use the results of the skills assessment to make some changes by acquiring the skills you need for a particular career.…