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A career of my choice in accounting
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“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 first major thing of note is the pay which averages out to 63,550 dollars per year or a $30.55 per hour rate (BLS 1). This tells me that even an average accountant can make a strong living that could more than likely support a full family. Next, is the employment turnover which is around 166,700 or 13% of the job field (BLS 1). This tells me that accounting a stable job but there is always a need for new accountant to replace those who are either fired or go to a different company. Also it is shown that the accounting profession is a field dominated by white males (AICPA 38). This is due to the cultural perception that men handle math and business better than girls, and are more likely to get involved in a field that consists entirely of math and business. Finally, there is the entry level education which is a bachelor’s degree (BLS 2). This means that an accountant must at least have a bachelor’s degree to work in the accounting field, but having a Master’s degree in necessary for the CPA exam and is preferable to a Bachelors. After having a proper education, the accounting profession becomes an easy and profitable field to get
The first were the traits required to become a great accountant. Acito believes that “The most important trait to being a good accountant is passion” (Acito). This is something that may seem like a no brainer but accountants are generally not considered to be passionate people, but without a passion for accounting the road could be quite rocky for the dispassionate. The necessity for passion in accounting, or any job, is due to the amount of time of energy invested in to the career and without passion it creates not only personal depression but will also effect focus and efficiency while working. The next thing according to Acito is being detailed oriented (Acito). This one is truly a necessity for accountants because any error no matter how small can create problems down the line. This is supported by job listings that list “detailed oriented” as one of the job requirements (CPA job finder 2). The final important quality is work ethic (Acito). This is due to the amount that accountants work and also that through hard work it is possible to rise up through the ranks of an accounting firm. It is through the traits of passion, detail control and work ethic, that an accountant can become
In Australia, woman continue to be under-represented in workforce participation and senior leadership roles. Women in Australia currently make up 49% of accountants but this seemingly balanced number is not reflecting the same with senior positions as Principals or Partners. This under-representation in the accounting profession continues to be a challenge for the women of Australia. The accounting profession has always been dominated by males that make it difficult for women to progress in their careers. Although technical and professional qualifications of women working in contemporary accounting firms are comparable to men, recognition and success at higher levels of the profession have not benefited women. More women enter the profession as junior accountants or trainees than males, but they tend to depart from the company leaving women with only 19% of senior positions. Challenges that these women face include career advancement paths that tend to be inflexible and have often forced women to resign. The way woman’s performance is evaluated and the substructure in how the organizations are structured continue to be a disadvantage to their career progression. This are reasons that create an absence of women in senior roles which continue to be an ongoing problem in the profession.
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...
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:
..., I believe I can be a good accountant as long as I improve on my weaknesses and master my strengths.
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...
Neranda, B. (2012). Personality and moral character traits and acknowledging the principles of management ethics, auditing and accounting ethics. African Journal of Business Management, 6(28), 67-98.
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.
Before stating my career goals, I would like to mention my motivation in choosing accounting as my career path, the origin of which is elaborated in essay three. As a rigorous and responsible girl with strong rule consciousness, I will commit to providing more accurate and timely accounting information, in order to optimize the business management and help the public understand the operating condition better, thus defending social justice and contributing to well-being.
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.
In Management, the accountant gives advices to the individuals and business people, how to manage their business. The account information is considered and some business decisions are taken in both financial and non-financial departments. Budgeting, tax filing, and financial statements. Other activities like involve in planning com...
Increased competitions and high expectations of the companies have put high pressure on the accountants. Making the most accurate decisions and helping the companies maximize their financial performances have become almost basics of the accountants’ duties. Many business owners question why they need to seek the services of an accountant when they can do many things themselves with the help of the technological tools. Today, an accountant must provide more than what technology can do for the company. They have to set business plans, goals and provide guide to achieve them with less cost and most profit. They have to advise business on their investments and project the most profitable decisions for the company. Beside the investments, accountants expected to consult the firms on their consolidations with other firms. Making decisions and researches on reducing costs, and sharing resource while providing variety of offerings puts lots of stress on the
Change is inevitable. Yogi Berra once said “The future ain’t what it used to be.” It is clear that the future of the accounting profession ain’t what it used to be (Gormon and Hargadon 1). The changes occurring are happening fast, they are dynamic and they are completely and undeniably real. Since the world around the accountant is changing, the accountant has no option but to change as well. The field of accounting has always been one to know change and to know adjustment, but within the recent past and certainly within the next few decades, the changes that are occurring and will occur absolutely are the most dramatic and exponential yet. Obvious changes lie in the expanding scope of services performed by accountants, the increased use of
Most accountants and auditors work full time. Longer hours are typical at certain times of the year, such as at the end of the budget year or during tax season.
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.
The normal title for the job that I chose is a “Chartered Accountant”. The job of a chartered accountant is to provide accounting and business advice to companies and individuals. Chartered accountant may also provide information to clients on tax planning, personal financial planning, corporate finance, and information technology (Job Description). The major skills required for a chartered accountant are communications skills, computer skills, and listening skills. A chartered accountant needs communication skills, as they need to talk with their clients, and need to be able to effectively tell the client the advice they are giving. A chartered accountant needs to have computer skills, as they are constantly making calculations using a computer and using different programs to display financial information properly to their clients. Finally, a chartered accountant needs to have good listening skills, as they must give proper and full attention to what the client is saying, without interrupting unnecessarily in between (Do You Have it in You to Become a Chartered Accountant?). Personal abilities to have that are beneficial are strong interpersonal skills. This is because chartered accountants always have to communicate and be social with their clients. They are constantly put in a position where they have to share their expertise with companies and clients. So strong interpersonal skills are important so that they can effectively communicate information with their clients. Also, knowledge of computer programs for auditing and financing is a good personal aptitude to have.