FDR 531 Week 1 Assignment 1

Powering up my computer, logging into the Dominion website, and writing this essay would all be impossible without Dominion. In this day and time, the energy industry is essential for human survival. People across the world rely solely on the fact that they will wake up the next morning, turn on the light, and prepare for the next days activities. Energy is such an underlying assumption of life in America that many of us do not take the opportunity to stop and think just how vital it is. With this being said, I have developed an extreme interest in Dominion and would find it fascinating to be able to use the skills and concepts that I have learned as a student and put it into use for an industry that Americans rely upon so heavily.

I have grown up in the Richmond area since I was five years old; and I have trusted Dominion to power my home, work, and community for essentially my entire life. When I was accepted into the Masters of Science in Accounting program at Virginia Commonwealth University, I began to think of my future and where I wanted to be in the next few years. This fall (2014), I started my Organizational Behavior class and learned about job satisfaction. During a lecture, my professor mentioned how important it is to find a career that you feel passionate about. I love my accounting classes and find them to

be very intellectually stimulating. However, I questioned where I would fulfill my desire to help my community. Dominion is a local Fortune 500 corporation that is responsible for powering a potential market of 50 million homes and businesses. By working for Dominion, I will be serving my community.
Accounting deals with the business practices concerned with reporting and analyzing financial information about economic entities to a variety of users such as investors, creditors, and management.

Accounting reveals profits or losses and it also discloses the value of assets, liabilities, and equity accounts. Journal entries have to be precise and records have to be accurate. What makes tax accounting so engaging is that most importantly you have the goal of making the taxable income as low as you can so you can get as large of a tax break as possible. Additionally, you have to keep up with tax policies that can change every

year.
Just like energy, money is an extremely important part of society. In order for Dominion to remain a viable company, they have to keep track of where money is coming from and going to. The revenues that Dominion earns have to exceed the expenses incurred. As of 2010, Dominion had an estimated 16,000 employees, operating revenue of $15.2 billion, and assets valued at $42.8 billion. All this information wouldn’t be available without the help of accountants providing it. People need Dominion and Dominion needs accountants.