Accounting Skills Essay

1571 Words4 Pages
bulb-icon

Recommended: Why ethics are crucial to accounting

Introduction:

In the UK today, only 15% of the labour force are in manufacturing; this will go down to about 10% by the year 2010.
In Pakistan, approximately 15% to 25% accounting students are increasing every year. The number of professional commerce institutions has increased from 36 to 100 since 1992. (Source: Central bureau of education, Pakistan)

What does this means?
More and more people are directing towards non-manufacturing environments which makes them more conscious about social and environmental factors than those technical. The decline of manufacturing has been changing the skills and competencies that accountants need in the 21st century to satisfy the needs and requirements of stakeholders.
Result is the division …show more content…

Think for a moment about what is thought to be involved in an accountant's workday. Most people would think about numbers, debits, and credits. Now that the idea of the stereotype has been introduced, it is time to know what accountants really have to tackle. Accounting is more closely related to other fields than a person might think. Communication in the work place makes writing skills imperative. When it comes to ethics, it seems as if accountant is the hub that connects the business world together. Stress is laid on the skills that may help business owners and stakeholders by the way of business sustainability, entrepreneurship and strategic thinking. Despite of critics; accounting professionals have proved incredible in past years to put the superlative strategic answers to the questions …show more content…

Consequently, more effort and time is elapsed. The reason behind this seems to be quite out of sight, which is obviously lack of computer knowledge. A key solution to this problem is the introduction of the related & useful I.T. section in every paper attempted and most data appearing in the questions should be computer generated reports. This may enhance & test a student's knowledge of Electronic Data Processing in tax, audit assurance, costing techniques as well as routine book keeping & final accounts. Where services provided by technology had mobilised the functioning of legal govt. authorities, tax authorities, national identification authorities and many more, accountants should if possible also have power over developing desired accounting software rather than using off-the shelf packages. "Remember, true security is found by committing yourself to improving one aspect of your life each and every day." Consolidating Your Future with Thirty Golden Rules -

Show More
Related

  • Public Versus Private Accounting

    999 Words  | 2 Pages

    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...

    Read More

  • Budget Analysis

    1842 Words  | 4 Pages

    Marshall, M.H., McManus, W.W., Viele, V.F. (2003). Accounting: What the Numbers Mean. 6th ed. New York: McGraw-Hill Companies.

    Read More

  • Accounting Scandals: The ENRON Scandal in 2001

    1233 Words  | 3 Pages

    Accounting ethics has been difficult to control as accountants and auditors must keep in mind the interest of the public while that they remain employed by the company they are auditing. The accountants should take into account how to best apply accounting standards when company faces issues related financial loss. The role of accountant is crucial to society. They serve as financial reporters to owe their primary constraint to public interest. The information provided is critical in aiding managers, investors and others in making crucial economic decisions. An accountant is responsible for any fraudulent financial reporting. Some examples of fraudulent reporting are:

    Read More

  • A Critical Component Of Any Accounting Theory Course

    1218 Words  | 3 Pages

    Accounting Theory: Conceptual Issues in a Political and Economic Environment (6th edition ed.). South Western College Pub.

    Read More

  • Personal Career Exploration

    1698 Words  | 4 Pages

    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...

    Read More

  • Accounting Technology In Accounting

    1757 Words  | 4 Pages

    Accounting: From Clay Tablets to the Cloud, How Technology has Changed the Accounting Profession Every business professional knows that accounting is the language of business. The language of business has especially been transformed in the last 38 years due to the almost constant change in technology and technology. Accounting professionals have become the interpreters for the language of business, a language that all business professionals must understand to be successful. in today’s highly competitive market.

    Read More

  • Essay On Positive Accounting Theory

    3052 Words  | 7 Pages

    ... can use accounting handbook during the circumstances, where they need information. Accountants want individual choice of method, which give them a freedom to do work, more confident to do work. Different people have various way to explain, different ways to understand things. So, it is always better to perform what people specialized at doing. Accountant is same as other group of people, the way they like, and accountants do better. The entire accountants have one and same results in spite of using different individual choice of method as they all follow same equation and accounting handbook. The benefit to the accounting society is provided by accountant using particular method of accounting.

    Read More

  • Essay On Managerial Accounting

    792 Words  | 2 Pages

    Management accountants use their skills to help with decisions that help a business make good decisions so they company will be valuable and in an ethical manner. They assess risk and implement strategy through planning, budgeting, and forecasting. Now managerial accounts have become critical with their analysis while managing a business. They do more than provide financial information they also have an active role in the business. Over the years managerial accountants has changed and now provide nonfinancial information. They can help a business achieve their goals. Today there is many things that is influencing how managerial accountants do their job with the emergence of e-business. They can use their knowledge to streamline the e-business (Hilton,2008). Now global competition has new challenges for managerial accounts because trade agreements can affect the way the business performs abroad. Gillet (n.d) said, “To be competitive, manufacturers must keep up

    Read More

  • Jet Airways

    1939 Words  | 4 Pages

    Accounting is the pillar of every company to measure its growth, loss, revenue , capital, its really specify the real terms in foam of figures and sometimes in tables, in accounting there are certain rules are obtained to make more accuracy while playing with figures.

    Read More

  • Personal Statement: Accounting And Finance

    971 Words  | 2 Pages

    As an undergraduate who studies accounting and finance. I started to learn about accounting and finance since 2013 when I was in A-level. At that time, we have been asking to present business news in each economic class. It has motives me to gathering finical information from The Economist and BBC The world business News report. The experiences of working as an intern at the Bank of HEBEI in 2013 and PWC in 2016 have encouraged me to become a professional accountant. All these had given me a great opportunity to know accounting and finance comprehensively and also reinforce my determination of continue studying accounting and finance. Therefore, I have decided to apply for your postgraduate degree course to further

    Read More

  • Accounting: Professional Goals And Career Goals In Accounting

    737 Words  | 2 Pages

    Moreover, the interdisciplinary curriculums designed for students with non-accounting background suit me fine. As a Chinese student majored in electronic commerce and minored in accounting, I hope to take advantage of my disciplinary perspective, dual language ability, and global vision, to understand how business and accounting interacts.

    Read More

  • Accounting Education: The Future Of The Accounting Future

    1883 Words  | 4 Pages

    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

    Read More

  • Essay For Accounting And Finance

    548 Words  | 2 Pages

    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.

    Read More

  • Pursuing a Career as an Accountant

    1072 Words  | 3 Pages

    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.

    Read More

  • The Importance Of Accounting In Our Modern Society

    2459 Words  | 5 Pages

    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.

    Read More

More about Accounting Skills Essay

Open Document