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Technology and effect on education
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Technology and effect on education
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Accounting World is moving very fast everyone wants to catch up with this advancement world is turning into a global village things are getting smaller and smaller day by day due to advancement of technology. Everyone trying its best to just cope up with this situation. Good home, a good job is everyone’s dream and to achieve that everyone is working hard. Everyone would agree that competition between younger generation have become tough in every field of life whether it be studies or jobs everyone tries to settle with the best. Every parent dreams and wants his/her child to choose that studies in which they can excel and can get a lucrative job. My parents had the same dream for me and I choose accounts as a part of my studies. Accounts what does people think when they hear the word accounts they think it’s a study about how to maintain accounting records and that it but the people who know about it definitely knows that accounts is a very respectable form of studies and a very hard one. When I was in school I use to think what would I like to be when I grow up I never thought I wil...
The stereotypical image correlated to the account mirrors that of a public accountant. An individual working as a public accountant can expect to work as an independent third party to a multitude of companies. As this third party it is their duty to oversee financial transactions to ensure that the statements of not only the company, but also its’ supporting companies, correctly correspond and match up to the position, results and cash-flow of the clientele. This general quota outlining a public accountants job description is not the same for a private accountant. The main difference between a public and private accountant is that unlike the public and its handle on a multitude of accounts, a private accountant specializes with a certain company or field. With this specialization, a private accountant tackles setting up a system that records the transactions within the business. The recordation of the transactions is then generated into statem...
Midterm Exam Accounting 598 Part 2 2. What is the difference between a.. A critical component of any accounting theory course is an understanding of the conceptual framework. 2a. What is the difference between a'' and''?
Accounting is basically a service activity. Its purpose is to provide quantitative information that principally used by the managers, investors, tax authorities, and other decision makers to make the financial decisions within companies, organizations, and public agencies. Accounting is also widely known as the “language of business.” An accountant measures, communicates, and interprets financial activities. They prepare financial statements or reports for individuals, businesses, government agencies, or other non-profit organizations. They use the accounting systems to categorize the expenses and income to the typical groups. They also keep tract of the money received or paid out to see if the transactions are accurate and complete. Accountants are familiar with the computer operation. They use the computer...
The study of history is defined as the narration, documentation and analysis of events that occur in the past, and for many years history has influenced several structural models and customs within the present-day society. Accounting history is, the narration and interpretation of historical events that have impacted the accounting profession. This essay seeks to investigate the impact of history on accounting and the relevance of accounting history, to addresses and answer the question of the importance of history in the accounting profession.
The purpose of accounting is to provide the information that needed to make sound economic decisions. It is one of the oldest professions in the world today, and the backbone of any business operation. It is not just about numbers, accounting is about planning. Accounting has many subfields, which includes management accounting, financial accounting, and cost accounting. Accounting can be a prestigious career, but to achieve that prestige you will have pass the CPA (Certified Public Accountant) exam and become a licensed accountant, and with that license you can work in any of the subfields.
Accounting is a job that I have had my eyes set on for years. While I was younger, I did a lot with money and it had fascinated me. My fun was playing Monopoly as the banker or going shopping with my parents and add up their total to see how close I get. I felt math and cash was my thing and still is to this day, all because of what I did when I was younger. I want to be successful in what I love to do.
Each person has a different idea of what it means to be successful. After talking to my family and some friends, I know that I have several strengths and weaknesses. I know that I will face some opportunities and threats. Also, I know that I will have competitors. In this competitive business world, understanding what is truly valuable to me is a major step towards achieving my goal. My strengths are my languages, technology skills, education, work ethic and the ability to follow directions. My weaknesses are communication skill, lack of U.S culture and working experience. Increasing job demand, globalization and accountant role expanding are three major opportunities in accounting field. Information technology, uncertainty of recession and starting salary are 3 major threats to my financial success. I will face all the accounting major competitors from the Midwest.
The 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 finances. 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.
What does the accountant of the future need to be successful? A sturdy education that while is based on traditional accounting practices, also prepares future accountants for the plethora of changes happening in the accounting universe. Frequently, most of the institutions responsible for educating professionals fail to evolve as rapidly as the professional practice itself (Bedford et al. 4). In every way, accounting is expanding and in order for the future to have competent accountants, accounting education must expand as well. Major changes occurring in the world of accounting include the expansion of services and products, changes in competition, an increase in specialization, and an increase in and an advancement of technology. It is up to academic institutions to find proactive ways in which to prepare students for such changes. Accounting education of the future will require more breadth to cover the inevitable expansion of services and products, increased knowledge of economics, marketing, management and information systems to increase competitive advantage, a balanced course load that provides a general accounting knowledge as well as increased knowledge of a specialization, and also a greater, proactive focus on the use of continuously advancing accounting technologies (Bedford et al. 8). Also in play is the chance of change in accounting standards, the move from US GAAP to IFRS. While there are no certainties surrounding the threat of such change, students in the U.S. should acquire at least a general, basic feel for the practices used in regards to IFRS. The future health of the accounting profession depends, to a great extent, on the health of our students (Gormon and Hargadon 4). Reorganization of curriculums would surely be difficult and assumedly time-consuming, but nevertheless, completely
Accountants are becoming a needed job in the business industry and play a very important role in the success of many businesses. This job usually requires at least a bachelor’s degree in accounting and sometimes even a CPA (Certified Public Accountant). There are many other things that are needed to be considered before choosing this career. The job environment, education, skills, and benefits are just some of the many things that need to be thought through before considering this career.
Every day, many people question my passion for pursuing accounting as a profession and the first answer I think of is that I am good with numbers. However, advancing in the field has made me realize that my passion is not only based on figures. Growing up as a kid, I was privileged to have a piggy account where I would save as little as fifty cents per week. Since my parents rewarded me in monetary value as a positive reinforcement in cases of good behaviour, I was motivated to maintain good manners so long as my savings increased. As time went by, I realized I had saved way “too much” money for a little child. The challenge came in the management of the funds because I was focused on spending more on pleasurable activities. However, the guidance of my parents enabled me to prioritize on the more important things and save more. I took interest in managing may own account as a child and even pursued accounting courses in high school. The interest grew deeper because I gained more insight on the facts about accounting and the career. Also, I believed that it is career that one would be self-employed thereby avoiding the dilemmas of lacking jobs after graduating. For instance, one would easily start their own business and manage their finances comfortably.
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 a very important term to our modern society. It is the career for men and women who at the start have their eyes set on top positions in industry, management, government, and general business. Accounting is a basic need of every businessman, from the operator of a filling station to the government of the United States. It's so important to our society. None of the business organization can operate without is. They are there-somewhere-in every business. In small business, people use pen, ink and skill keep the records. In large business, modern accounting machines are used to operate. Men and women are directing these machines in the accounting process. Wise businessmen enter business must have some accounting knowledge.
So in conclusion I hope by reading this you know have a better understanding accounting. Also I want you to have and understanding of how it was originated and the major contributors of the systems we use today in accounting.
Accounting itself is a system that people has been using for thousands of years, the system records financial information about a person or business, businesses use it in order to be able to keep and track their financial accounts and other financial information in a safe and efficient way. (Brooks, 2012)