Accounting Compare and Constrast Essay

This essay has a total of 1903 words and 8 pages.

Accounting

Accounting
The nature of work of accountants and auditors is to prepare, analyze, and verify
financial reports and taxes, and monitor information systems that furnish this information
to managers in business, industry, and government. The major fields of accounting are
Public accountants who have their own business or work for public accounting firms. They
perform a large range of responsibilities such as doing taxes, numerous accounting and
auditing, consulting activities for their clients, who may be corporations, governments,
nonprofit organizations, or individuals. Management accountants also called industrial,
corporate, or private accountants record and analyze the financial information of the
companies for which they work with. Other responsibilities include budgeting, cost
management, and asset management. These accountants analyze and interpret the financial
information corporate executives use to make sound business decisions. Internal auditors
are very important to our system. When companies make information more timely, top
management base their decisions on actual data, rather than their personal opinion. So
these auditors verify the accuracy of their organization's records and check for
mismanagement, waste or fraud. Government accountants maintain and examine the records of
government agencies, and audit private business and individuals whose activities are
subject to government regulations or taxation. All ranks of government accounting sees
that revenues are received and expenditures are made in accordance to laws and
regulations. Many who have a background in accounting work for the federal government as
Internal Revenue Service Agents. Within each field, accountants often concentrate on one
aspect of accounting. Jonda Dunn who I interviewed works for B. Lee Hubbard and Company in
Jackson, Ohio. She has worked there for six years and enjoys her job. She has received a
bachelor's degree in accounting and minored in Computer Science. She chose this career
because she loves math and numbers. Mrs. Dunn deals with payrolls, bank reconciliation's,
and financial statements.

In accountants working conditions they are usually placed in an office setting. Self
employed accountants are able to do part of their work at home instead of the office.
Those who may be employed by public firms and government agencies may travel frequently
for the branches of the firms. Most accountants work about a 40- hour week. If they are
self-employed then they may work more or less depending on who much work they are willing
to take on for the clients.

The employment outlook for accountants who have earned a professional degree through
certification or licensure should have the best jobs. Applicants with a mater's degree in
accounting, or a master's degree in business administration with a concentration in
accounting, may also have a stronger advantage in the job field. Employers of many
businesses always seek well-rounded applicants with strong interpersonal skills.
Competition with in the fields of accounting will always remain at the top for the most
prestigious jobs with the bigger firms. The employment for accountants is expected to grow
about as fast as the average occupations through the year 2006. The need to replace the
jobs of people who retire or transfer to other jobs will continue to grow annually. Also
as the company grows the number of businesses established will increase. Do to the
increasing companies and occupations the changing role of accountants will also spur job
growth. Accountants will perform less auditing work and less tax work due to growing
competition from tax preparation firms, but they will offer more management and consulting
services in response to demand. Accountants will take a greater role as they develop more
modern and flexible accounting systems, and focus more on analyzing operations rather than
just providing financial data.

To be an accountant you must have the certain training and skills to be successful. Most
accountant positions require at least a bachelor's degree in accounting or a related
field. Based on the recommendations made by the American Institute of Certified Public
Accountants. Some states require CPA candidates to complete 150 semester hours of college
course work and it will be a requirement in the near future. Most schools have change they
curricula accordingly, and accounting major should carefully research accounting curricula
and the requirements for any states in which they hope to become licensed before
enrolling. Some employers prefer applicants with a master's degree in accounting, or a
master's degree in business administration with concentration in accounting. They also
prefer applicants who are familiar with computers. For beginning accounting positions in
the federal government, four years of college or an equivalent of combination of education
and experience is required. Professional recognition through certification or licensure
provides distinct advantage in the job market. The vast majority of the states require CPA
candidates to be college graduates, but few states substitute a certain number of years of
public accounting experience for the educational requirement. All states use the four-part
Uniform CPA Examination prepared by the American Institute of Certified Public
Accountants. A person planning a career in accounting should have an aptitude for
mathematics; be able to analyze, compare, and interpret facts and figures quickly and make
sound judgments based on this knowledge. They must be able to clearly communicate the
results of their work, orally and in writing to clients and management. Accountants must
be good working with people as well as with business systems and computers. Accuracy and
the ability to handle responsibility with limited supervisions are important.

The projected earnings for accountants vary. According to a salary survey conducted by the
National Association of Colleges and Employers, bachelor's degree candidates in accounting
receive starting offers averaging $34,500 a year in 1999; master's degree candidates in
accounting, $36,800. Certain staffing services firms specializing in accounting and
finance with up to one year of experience could earn between $26,000- $36,250 in 1999.
Those with one to three years of experience earned between $29,250- $41,250. Senior
accountants and auditors earned between $34,750- $51,000; managers earned between
$41,750-$68,500; and directors of accounting earned between $56,250- $91,000 a year. The
variation of the salaries depends on the size of the firm, location, level of education,
and professional credentials.

My goals and timeline for the next forty year starts now. I am taking each day at of time
in college to prepare what lies ahead of me in the future. I plan to work hard in all my
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