Career and Project Plan on Accounting Steven Jerrod Young Professor Judy Marshall Decision Making Tools March 29, 2014 Steven Jerrod Young Professor Judy Marshall Decision Making Tools Project Plan on Accounting • Introduction In laymen’s term’s, accounting is the action or process of keeping financial accounts, but there is much more to being an accountant than just that. An accountant will need to be adept at working with numbers, paying close attention to small details, and reconciling conflicting business reports. Accountant’s tasks include preparing net profit and net loss statements as well as preparing other accounting reports for your company or client, and also analyzing reports of other …show more content…
Within the firm, you can work in area such as auditing, taxes and management consulting. A public accountant could also seek a job in industry, where there are careers in companies of all sizes, working in many areas such as financial accounting and reporting, management accounting, and cash management. Within government, a public accountant could forge a path to the federal, state or local level. Non-profit organizations and education also offer many opportunities. (Accounting, Np) “I find it really fulfilling,” says Connie Sullivan of Georgetown HR Block. “As a public accountant, I help people file their taxes. We especially get busy around February and March because a lot of people are filling their taxes around that time, but the rest of the year, I work as a part time photographer, and help with audits,” (Sullivan, …show more content…
Accountants are usually employed at accounting firms, crunching numbers. Many companies need the expertise of a full time accountant, to help with their finances. An accountant may also work for a manufacturing firm, a hospital, insurance companies, and many other large businesses preparing profitability statements, and preparing the payroll. • Multicultural Aspects The demographics of an accounting firm typically consist of 44% were women, and 56% were men. According to a study performed by Catalyst.org, of the accountants currently employed at the 5 largest firms in the United States, more women had their Associates and Bachelor’s degree, than men did, but more men had their Doctorate than women. The predominant race in accounting is Caucasian, but the amount of minorities hired in the profession has raised steadily since 2012. • Becoming Employed A great way to get a good foothold in the accounting world, is get an internship at an accounting firm. Student internships can enhance your accounting education by giving you more experience in the profession of accounting. Furthermore, by exposing an intern to the accounting practice and the corporate America, internships help you develop professionally before entering the
The final level of entry into public accounting is entrepreneurial services. In the book Careers in Accounting, it says that working in the entrepreneurial field “is a fast-growing and dynamic area that has been formed in most large firms in the last few years” (5). The person working in this area deals with the special requirements of a startup or growing company. Professionals in this group are involved in counseling and advising the emerging or middle-market company that may lack the resources to successfully handle planning, cost control, attracting capital, going public, or choosing the right information system or compensation plan. Audit, tax, and management consulting skills are all used to fill the needs of an emerging business.
If you do want to work for an accounting firm they would be public and private firms. A public firm does auditing, taxing, advisory, and consulting services. Examples of public firms would be The Big Four (Deloitte, PwC, Ernst & Young, and KPMG). A
The duties of the job are dependent upon who one’s employer is. For public sector jobs, the local police could employ you. On a more national level, agencies such as the FBI, IRS, and SEC could all be employers. If employed by the FBI, one could work as in-house forensic accountant. They would provide valuable support by conducting analysis of the financials of businesses and individuals to seek out wrongdoing. Areas of investigation could include money laundering, embezzlement, fraudulent financial reporting and many more forms of white collar crime. The IRS hires individuals to be special agents and investigate financial crimes, with those who are CPA’s given a preference in the hiring process. Forensic accountants for the Securities and Exchange Commission work to ensure financial statements such as 10k’s are accurate and in accordance with GAAP standards (Bramwell, 2016). They could also provide legal advice in criminal cases in matters involving
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.
The world revolves around money; it forms businesses and assembles the economies. Through this I have become fascinated with the process dictating these changes within companies, as well as the flow of capital influencing our society. Accounting would assist to achieve my future ambition to become a professional accountant, seeing as it’s a rewarding occupation that provides a stable long career.
I have taken a lot of time this semester to think about and focus on a career path. After much consideration, I am now planning a path to become a licensed accountant. Certified Public Accountants oversee financial operations and examine and make sure financial records are correct. Many people call accounting the “language of business”, because many of the decisions made by companies are not made without looking at an accountant’s report. This job is appealing to me because it is a job that has a routine, I would get to work with numbers, and it is a respectable job that not everyone can do. To pursue this career, I would have to obtain a degree in accounting or a similar degree, like a degree in finances, and pass the Certified Public Accountant exam.
...ems. Private accountants look to gain much higher lever employment within their own company or another similar company.
"Accountants and Auditors." U.S. Bureau of Labor Statistics. U.S. Department Of Labor, 18 Dec. 2007. Web. 20 Nov. 2009. .
My interest in Accounting and Finance stems from wanting to understand how governments and businesses make their vital decisions to be profitable. Studying this degree, will allow me to gain an understanding of financial accounting, management accounting and taxation providing me with skills to analyse data and develop my decision making. Additionally being able to incorporate different aspects of business alongside the core modules; will give me more knowledge of the world of accounting and finance.
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...
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.
Accounting is one of the fundamentals of any business because it is a means and a key factor in achieving financial stability. The work of accountants in companies also helps identify and measure their financial wealth, which includes liquidity and profit rates. Without accounting, companies will not be able to make various decisions, Term accounting is considered to be a science based on the use of financial information. To track accounting activity in conjunction with IT resources, the accounting information system is considered the best system.
he accountancy profession is rated highly in terms of its demonstration of certain values, attributes and behaviours considered important for supporting public value. A competent professional accountant in business is an invaluable asset to the company. These individuals employ an inquiring mind to their work founded on the basis of their knowledge of the company’s finance. Using their skills and intimate understanding of the company and the environment in which it operates, professional accountants in business ask challenging questions. Their training in accounting enables them to adopt a pragmatic and objective approach to solving issues. This is a valuable asset to management, particularly in small and medium enterprises where the professional accountants are often the only professionally qualified members of staff.
External auditors square measure certified public accountants, or CPAs, World Health Organization work as independents of a business or organization, examining the money statements ready by the management of the business or
Accountants prepare a financial statement of the business by analyzing account information business entity. The report stated in financial statement must be accurate with respect to the next user of financial information. They prepare, analyze and examine financial reports, taxes and monitor information system. This information furnish to the manager of the business, industrial and government.