October 2, 2015
Accounting is popularly known as “language of business". Accountants are the practitioners of accounting, who can speak it better than anyone. It measures the results of a company’s economic activities and conveys this information to different users like creditors, investors, management, and regulators, etc.
Accounting is the body of knowledge, which is primarily concerned with methods for recording transactions, keeping financial records, performing internal audits, reporting and analysing financial information to the management, and advising on taxation matters.
In short, it is a systematic process of identifying, recording, ...view middle of the document...
They provide a broad range of accounting activities from auditing and tax preparations to consulting activities for organizations in which they work. These accounting services are for individuals, private businesses, public firms, government agencies or non-profit entities. The field includes tax advisers, external auditors, and also forensic accountants. Most of the public accountants are Certified Public accountants.
Certified Public Accountant. To pursue a license as a Public/Certified Public Accountant is one of the most popular career path for an accounting. Professionals those who provide a broad range of external accounting services and financial advisory for their clients are public accountants.
Some of the services, which are provided by public accountants are auditing, tax compliance, tax advisory, mergers and acquisitions, and estate and financial planning. In order to complete a Certified Public Accountant certification process, public accountants must pass the CPA exam and work in public accounting for at least two years.
Also there are other accounting certifications such as Certified Fraud Examiner (CFE), Certified Management Accountant (CMA), and Enrolled Agents (EA) for those who want to specialize in tax.
Usually public accountants traditionally work in an office setting, because they often work with several clients at one time, they encounter a wide variety of types of work and people, keeping the job engaging and interesting.
Most of the public accountants end up rising to a high-level position within a firm become a controller or Chief Financial Officer (CFO). An accounting degree very is crucial to enter and succeed in public accounting.
Financial Accountants. Financial accountants prepare financial statements on the basis of general ledgers. They also participate in important financial decisions involving benefits/ERISA planning, M&A, and long-term financial projections. They are mostly concerned with how an organization’s performance is represented to outside parties, as well as reporting profit/loss information and cash flow to shareholders and managers.
The work of these accountants usually varies. They may be running spreadsheets or visiting customers or suppliers to about discuss business. A good understanding of both accounting and finance is required for this job.
One day, you may find yourself on the management team of a large corporation if you pursue an accounting career. However, financial accountants are found in all types and sizes of organizations.
Tax accountants. Tax accountants prepare income tax statements and formulate tax strategies. The work of a tax accountant requires a thorough understanding of tax codes and business economics. Most of the large corporation look for professionals with both an accounting and a legal background in tax.
Management accounting. Companies (Public/private) hire management accountants to perform tasks such as budgeting, asset and cost management and also...