Accounting
Accounting Project BAC 3AA Profile of an Accounting Department
My interview with the accountant of Robin Hood Multifoods Inc. was one of the greatest interviews I have ever experienced. The person whom I interviewed was Mr. Jeff R. Scott. Jeff was a really nice person when I asked him questions. His desk was not as organized as I thought, because accountants are really organized. The reason is because he just got promoted from assistant controller to controller. As I asked him more and more questions, the answers that came back at me were pretty interesting. Jeff R. Scott is a Chartered Accountant acquired at the University of Western Ontario. His requirements of completing C.A. were a business degree, he had to join a C.A. firm – also know as an “article”, and completing the C.A. exam. Skills included aptitude with numbers, relationships between numbers, algebra, and high-level thinking e.g. summarized data, interpreting what 3-4 pages means in 5-6 years. What might this job lead to? This job will most likely lead onto internal audit, managerial, and vice president of finance.
How much influence does Jeff R. Scott have in the department/company? In his own words, “I’m in full control. I tell people what to do, whom to fire, whom to hire, what their salary should be. Why? Because I’m the controller”. He has leadership, teamwork. Does not really have a routine set for his staff, as long as the work is done. The working hours what the company refers to as “flex-time”. Hours of work for Jeff R. Scott is 7 a.m. – 6 p.m. For the staff, it is 7 ½ hours. The salary for Jeff R. Scott is between $90,000 - $120,000. Here are some extra information that I fount out. There are a total of 54 ½ employees working in the
Being a food service accountant is a rewarding job that comes with a lot of responsibility. It’s a job that requires one person to be the financial watchdog over the whole food service operation at any particular Air Force base. The food service accountant has to review all financial records, such as purchase order documents, inventory sheets, and waste logs; and then prepare reports to send up to the Services Agency to report on the facility’s financial status. One person can be the accountant for multiple facilities and the entire Air Force is counting on this individual to catch any major signs of wasteful spending from the facilities that the accountant is responsible for overseeing. Individuals lucky enough to get selected for this position are usually handpicked and have a proven record of responsibility and great attention to detail. Being a food service accountant is a privilege with rewarding benefits that most of the people assigned to the same duty section do not get the opportunity to enjoy.
Majored in accounting during my undergraduate at Michigan State University, I am determined to be an audit professional at a public accounting firm in Toronto upon graduation from MMPA program. To better qualify myself and equip myself with advanced accounting knowledge, I am dedicated to obtaining the CPA designation as well. In the next three to five years, I see myself being promoted from an associate to a manager who will lead a team and direct a project. Working as a manager in a public accounting firm will definitely sharpen my leadership ability and problem-solving skills, which are prerequisites for my long-term career objective. Ten years down the road, I want to work in the finance department of a public company as CFO or controller,
In the case of a private accountant the end of climbing the professional pyramid is at becoming the chief financial officer (CFO). Within a company, this is the most prominent position for a person of an accounting background and field. Prior to becoming a CFO, the private accountant must tackle the positions of control such as assistant controller and controlee. At the achievement of becoming a CFO, the accountant would take on the same responsibilities it once held but to a higher level. It is expected to take control of the companies’ entirety of accounting functions. For a private accountant to reach the level of CFO is quite an accomplishment, but this position bestowed by a small, low-key company does not appear as well on paper as the accomplishment of a public accountant who made a name for themselves.
had no ideas of fair play in regards to his employees. He is comparable to a
In particular the adoption of the International Accounting Standard has made the profession more challenging. Accounting is an extremely complex activity with substantial ethical implications which have changed over the last century. Accountants are increasingly becoming an important part of successful business teams. This is because they understand the language of money and a company's complex financial situation better than any other employees. The job outlook for Accountants and auditors seems promising for those still in college with a major in Finance or Accounting. According to the Bureau of Labor Statistics (2014), there is a projection of 13 percent growth for 2012 to 2022 for the employment of accountants and auditors. There are few issues that will hinder prospective acc...
2-1 D. Given: Current Ratio = 2.2:1; Current Asset = $33,000, Non-current Asset = $55,000; Liabilities = $15,000
“Behind every good business is a great accountant.” Considered by many to be language of business, accounting in all reality is a vague term. They are many types of accounting each with its own certifications and requirements. They are three main types of accountants first is the public accountant or CPA. This is a person who works for a public accounting firm, whose job is to go and evaluate the status of a company through auditing financial statements. Next, is a cooperate accountant. In cooperate accounting an accountant works inside a major cooperation, for example Ford or Chevy, and evaluates the status of the company through creation and analysis of the financial statements. Finally are tax accountants, who focus on studying the tax code
The significance of this article stems from the necessity of making the infrastructures of accounting knowledge more scientific. The infrastructures which would be the bases of assumptions, principles, and concepts of accounting knowledge. Only via making these infrastructures scientific, one can promote the status of accounting among other sciences. In addition, without any justification, reasoning, and argumentation, one cannot have scientific claims. The theory of accounting should ultimately enable the standards setters to deduce the standards. Considering the impact of accounting theory on standard setting, this article aims at analyzing the point that whether the type of reasoning applied in developing accounting theory and setting accounting
When I think of a financial manager, accountant quickly comes to mind. The role of accountant and financial manager are similar in several ways and often times they work closely together on various projects. The role of an Accountant is to ensure that their organization is run efficiently, make sure their records are accurate, and that their taxes are paid properly and on time. Accountants perform a broad range of accounting, auditing, tax, and consulting activities for their clients. They record and analyze the financial information of the companies for which they work. Other responsibilities include budgeting, performance evaluation, cost management, and asset management. “The role of the financial manager has expanded beyond traditional responsibilities related to company's finances. A financial manager, through his/her understanding of the company's financial health, the current market, and the goals of the company, helps set direction and guides decision making.” Financial managers perform several different task related to finance for their organization they normally oversee the preparation of financial reports, direct investment activities, and implement cash management strategies.
My second goal is to become a Certified Public Accountant (CPA). I plan to take the CPA exam immediately after my completion of Master’s program. The CPA certificate will not only to show my competence in independent work but also promote my opportunities to enter a managerial position. To realize my long-term goal of becoming a partner of Ernst & Young, I must be a role model who is familiar with advanced-level knowledge and certification exam.
Accounting is a vital component of every business. Many businesses rely on accounting information to make decisions everyday within an organization. Accounting information discloses how valuable a company is. Many people think accounting is just generating spreadsheets, but it actually entails much more. Accounting consists of evaluating business activities, processing data into reports, and communicating results so that management can make decisions.
An accountant makes sure that the Nation’s firms are run efficiently, the public records are kept accurately, and that taxes are paid properly and on time (“Accountants and Auditors”). Accounting is the study of how a business tracks their income, assets, expenses, and many other things for a period of time. They also do many other things like quality management, tax strategy, and health care benefits management (“Welcome to Careers in Accounting”). An accountant is crucial to the success of a business, without one the business tends to fail.
The revenue/cost period-: Revenue and the cost period in accounting that the company get income from normal business activities. It’s referred to normal business income that the company got by selling their product and service.
Accounting is one of the fastest growing fields in the United States It expands each time a new store, a factory, a filling station, or a school goes up, whether in a large city or a small town. In today's society, the demand for good accountants for exceeds the supply. As our country has expanded, business and industry have become more and more complex, so control here is very important. And control depends on a great deal of the bookkeepers and accountants who can analyze figues and advise management on what should be done. They are using more scientific ways changing money, figuring change, and collecting sales taxes. Moreover, department stores and other companies now have plants and offices widely scattered throughout the country. A new set of bookkeepers and accountants, is needed at each branch. I know there are many managements supervisory, and junior or senior executive positions are bing filled by people who started as accountants because accountants have the knowledge of methods and finance and comprehension of the fundamentals of business, and acc...