... 2 Richard Caturano, A true leader. 1. Introduction A. My paper is about a leader in the accounting field, Richard Caturano. This project discusses why he is successful through being a great leader. Richard Caturano is an executive managing partner at McGladrey, LLP, in Boston. Richard is a founder of Caturano and Company. Richard is chairman of the AICPA. B. I want to demonstrate why he is a great leader and show how he has become successful through his leadership skills. C. Main Ideas 1. Founded a successful accounting firm. 2. Chairman of the AICPA. 3. Recognized as the most influential person in accounting by Accounting today. 2. Accounting is my major. A. I chose this field because I have always liked numbers. I believe that an accountant is important a company’s financial success and I want to be a part of helping company’s excel. B. I expect to graduate in January of 2016. 3. Richard Caturano is the subject of my project. A. He is successful and highly recognized across the accounting world. COLL/148: LEADERSHIP OUTLINE 3 B. Richard created one of the most successful accounting firms in the world. He has been a great inspiration for aspiring accountants. 4. Characteristics of an effective leader. A. A few characteristics are being humble, faces &...
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...Accounting Standards Boards ACC/541 Accounting Standards Boards Whether it be international or here at home in America is it of the upmost importance to have an agreed upon set of standards in which people agree upon. Accounting is no different in dealing with people who need to have a set of standards in order to make sure everything is uniform. The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are two sets of standards boards that have an interesting relationship between them. Some of the topics I will cover is a brief break down of the two boards, a brief history of their relationship, and the ways the two are similar. International Accounting Standards Board (IASB) was established in 2001 when it took over for its predecessor (IASC) International Accounting Standards Committee. Its job is to create and establish a set of accounting procedures and standards to be used universal around the world. Created by the Financial Accounting Foundation (FAF), Financial Accounting Standards Boards (FASB) was established back in 1973 and essentially is in charge of governing and setting forth accounting procedures and principles in which nongovernmental businesses must follow. These two boards have begun working together on projects in order to help improve the US (GAAP) Generally Accepted Accounting Principles and the International Financial Reporting Standards (IFRS) so that they are fully compatible in the future when...
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...A SHORT HISTORY OF ACCOUNTING AND BUSINESS By Gary Giroux September 1999 Preface Overview: Accounting toward the 21st century: Where are we now? How did we get here? 1. From the Ancient World to Pacioli The First Cities Trade Tokens: The First Accounting The Sumerians Complex Tokens and Clay Tablets Cuneiform Writing and Beyond Money, Banking and Credit The Dark Ages and the Rise of the Italian Merchants Luca Pacioli: The Father of Accounting 2. Britain and the Industrial Revolution Prior to 1750 Ironbridge Textiles The Steam Engine Wedgwood and the Importance of Cost Accounting Early Cost Accounting Transportation Development of the Accounting Profession 3. American Big Business and Cost Accounting Early Developments in Manufacturing and Accounting Rockefeller Morgan and Carnegie Cost Accounting in the Era of Big Business Alternative Systems in Asia and Europe Relevance Lost: The Critique of Johnson and Kaplan The American Response 4. Financial Accounting and the Structure of Accounting Regulation The Great Crash and Government Response The New Role of the Accounting Profession The Financial Accounting Standards Board Earnings Management and Economic Consequences Accounting Principles and the Conceptual Framework 5. Auditing Auditing in the U. S. The Big...
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...Tax Accounting Career Path Intermediate Accounting II- Spring 2014 Submitted to Dr. Jeffery Hillard Dante Pennix Sr. April 21, 2014 My goal is to become a Certified Public Accountant while achieving the goal of owning a lucrative CPA firm. One of the great benefits of choosing tax accounting as a career is that you will always have a job when you graduate. Tax accountants and CPAs will always be in high demand as long as the globalizations of marketplaces continue to develop. Tax accountants also create tax strategies to reduce the amount of taxes a client owes while remaining compliant with GAAP and tax laws. The qualities of a tax accountant consist of begin able to be organized, competent, have an attention to detail, ethical, and most in important effective communications, both written and verbal. For example, common responsibilities for tax accountants include preparing and filing taxes, financial planning, completing continuing education credits, and researching and reviewing past tax filings. In summary, the career path of a tax accountant and CPA is very tedious and technical but overall, the journey is worthwhile. The reason why I elected tax accounting as a career path was because of the stability and longevity that it holds. Another reason I choose this career choice was for the challenging and gratifying work that it brings. Tax accounting is a specialized field because of the ever changing rules in the accounting arena as with new regulations and laws of the tax...
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...I first became involved in the Accounting Association Spring of 2010. I then pledged for the Beta Alpha Psi (BAP) organization and was initiated fall of 2010. I have been an active member since then and became BAP Membership chair spring of 2011. Becoming BAP membership chair is a privilege to me because I get to be the “welcoming person” to our organization. I am a good candidate for this position because I am friendly and very easy to get along with. Being a part of BAP is a wonderful experience. This organization creates many networking opportunities and great friendships as well. The Accounting Association and Beta Alpha Psi are a great part of the college experience and I am exceptionally glad that I decided to join. Hopefully I am having that same affect on other students who are pledging BAP. It makes college much more fun and beneficial having friends who are also in the same class. I am glad I became an active member of BAP and hope to branch this success off to others. I hope to become involved in many more activities over the entire campus so that I may broaden my experience and create more friendships. Write a total of one to three paragraphs about your employment experiences over the past five years. Be specific. Please describe all jobs you have held over the past five years. Include duties performed, employer name, and dates of employment. Also include hours worked per week. . I began as a part time cashier on the front end at Giant Eagle. This was the...
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...Professional Accounting/Business Organizations The benefits of joining professional business or accounting organizations are numerous. Joining an organization can greatly enhance a young professional’s career. One of the main reasons of joining any organization is to network with others of similar interests. By being a part of a business or accounting organization, I can network with other professionals in my industry. Networking is essential to for me to move up the ladder in the accounting profession. Fellow organization members can also be great learning tools. Veteran members who have been in the industry for many years can use their experience to mentor or teach me new things to enhance my knowledge in my profession. Building relationships and bonds with members in organizations can lead to gaining better opportunities, businesses, occupations, and networks. A professional organization that I can join is the Association of Accountants and Finance Professionals (IMA). This organization’s goal is to provide opportunities to gain further knowledge about the industry through research, practice, teachings, meetings, forums. They also stress that professionals be ethical and use the best business procedures in management accounting and finance. They provide education programs, networking events, up to date newsletters, and information that can improve accounting/finance practices. Conferences and meetings are held every few weeks and are posted on their website. The American...
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...1.0 Managerial Accounting Managerial accounting is a field of accounting that provides economic and financial information for managers and other internal users (Weygandt, Kimmel & Kieso, 2012). Managerial accounting is an important internal business function. Many companies use managerial accounting to record and report their internal financial information. There are differences between financial accounting and managerial accounting. Financial accounting focuses on preparing financial reports and releasing information to the public while managerial accounting focuses on preparing financial information for internal review and decision making. Managerial accounting offers several important tools for measuring the company operational performance. Common types of managerial accounting include job costing, process costing, activity-based costing and also budgeting. 2.0 Benefits of Managerial Accounting Practices Towards Business Organization Create Competitive Advantage Management accounting can help businesses create a competitive advantage. Many business owners focus on creating consumer goods with lowest-priced and highest-quality product in the market. The ability to review financial information through managerial accounting is important in creating a financial competitive advantage. In 2010, Maxis Berhad wins excellence award in management accounting from the national award for management accounting (NAfMA). One of the winning criteria is the company ability to create...
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...1.0 Introduction This report talks about china s accounting systems and how it has developed and changed continuously till present. It looks into the history of Chinese accounting, followed by explaining how the institutional factors have had an impact and is backed up by 2 theorist, Hofestede and Grays model. It identifies the significant changes that occurred during its journey in adapting to the IFRS standards starting from 1949. Culture is a main aspect of china and has been incorporated into its accounting systems as well. To conclude it explains future problems that may arise and whether or not china will fully adapt to the IFRS system. 2.0 Brief history of accounting Previously there was no real accounting system in china with the exception of providing financial reports, therefore the Chinese government wanted to implement an accounting system. In 1949 the people Republic of China (PRC) a communist party came into power and adopted a communist accounting approach from Russia to achieve socio economic development without the reliance on developed nations. 2.1 Significant changes that have taken place 2.2 Great Leap Forward The regime of the Great Leap Forward 1958 – 59 was an effort to strengthen china’s economy, and catch up with the western world, but ended during the Cultural Revolution. A series of natural disasters like shortage of water, starvation led to the worst period in china’s history. 2.3 Cultural Revolution However the Cultural Revolution...
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...START YOUR CAREER IN ACCOUNTING For as long as civilization started engaging in trade, accounting has been around. Evidence of financial records exists from as early as the Greek and Roman Empire. As civilization developed, accounting became more complex as well. For centuries, accounting standards stayed fairly unchanged. However, in the past decade, the accounting industry experienced many changes. From the company scandals to big mergers, we have seen the world of accounting transform. Today, it is one of the largest growing industries in business. “The Bureau of Labor Statistics projects 15.7% employment growth rate for accountants between 2010 and 2020” (US News). This growth rate is higher than any other profession, which makes accounting an excellent career choice for BBA graduates. To get started on your career path in accounting, here is what you will need to know. RECENT TRENDS IN ACCOUNTING Accounting has a reputation of being boring, but recent events prove this statement wrong. This year is an exciting and challenging time in the industry as one can expect to see more changes as the industry redefines itself. New Auditing Regulations: As Rapoport states in his recent article, “the annual audit report is about to get an extreme makeover.” The Public Company Accounting Oversight Board plans to propose new rules that will require auditors to put more information in their report. Contrary to the current pass-fail system auditors use in their report...
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...Professional Accounting and Financial Organizations Networking is a key activity that is not only fun, but also critical for your personal growth and career path. Business people are all about networking, building relationships and taking action. There are many professional organizations that can help students develop these important relationships and recive many great benefits. CalCPA is a professional organization for accountants that undergraduate students can join for free. This organization offers many resources for students and they are all intended to help launch a CPA career. For example, CalCPA classifieds is a service where employees seek for students for part-time and full time jobs. This organization also helps students and recent graduates to became a CPA. It provides a step by step guide for the CPA exam requirements and it also helps students to find discounts for CPA reviews. My favorite CalCPA resource is the networking events. These events are free of charge for students that are members and it is a great opportunity to meet not only other students, but also many professional who are willing to talk to students about their careers. ALPFA is also a great organization for accounting professional and students. This organization is focused on helping Latinos students emerging in a CPA career. Even though the function of this organization is to help the Latino community everyone is welcome. The membership for this organization is free for students and they...
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...The development of financial accounting As we all known, the system of financial accounting is getting more and more perfect because of the emergency of a great amount of the financial transaction . Generally speaking, the developed speriod of accounting can divide three parts:Ancient Accounting, Contemporary Accounting and Morden Accounting. Accounting gets a better growth with the development of the world and science and technology after we step into the 21th century. Ancient Accounting About 1000BC,financial accounting had been created . Accounting, as a way to record expenses and receipts,has exsited for a long time . In the ancient time, most of the people can support their own life by cultivating. In other words,there will be much less financial transaction emerging. Therefore, they will use simple way to record food, clothes or the other sources left, such as, using knotted strings of different length and colours or engraving on stones etc. This king of method is fit with economical situation which is called “Self Sufficient Natural Economy Although accounting in the early stage is briefly, it experience a long time trasition which is from simple to complex , elementary to senior . Contemporary Accounting 1.1The rise of Italy at the Middle Age The outbreak of the Renaissance advanced the rise of Italy sharply. Luca Pacioli first described the practice and theory that had developed in commercial cities in Italy. Pacioli...
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...Use of Managerial Accounting Tools in Toyota Motor Corporation ------------------------------------------------- ACCT 804 The Use of Managerial Accounting Tools in Toyota Motor Corporation ------------------------------------------------- ACCT 804 Managerial Accounting in Toyota Introduction Modern business environment involves high complexity and growing threat of new entrants, which together make potential challenges to business firms today regardless of the industry they involve. A company cannot survive the current market competition unless the management gets adequate information constantly. The concept of management accounting or managerial accounting is of great importance in this context because it can assist the top management to make sound decisions on various matters. This accounting branch embraces accounting systems, methods, and techniques that can help the organization maximize its profits or minimize losses. Scholars opine that management accounting is the presentation of accounting information in a way that would assist the top management to create potential policies for managing its daily operations. Management accounting is not confined to financial management information, but it is about comprehensive information about overall organizational activities. It is evident that financial management alone is not capable of providing necessary information for performing managerial functions effectively. In contrast, management accounting is able to provide...
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...While assault, burglary, drug dealing and murder take the first seat on America’s top crime list, one is gaining awareness at an increasing rate-white collar crime. Enter in Forensic Accounting. Thanks to popular TV shows like CSI, Bones and Criminal Minds, when people hear the term “forensic” they often think of the forensics that’s involved in the investigations of crime scenes. While that is true, forensic really refers to any investigation methods or techniques that produce results that a court of law will accept as evidence. That is why forensic accounting is a great career option. According to Kreuter (2017), “Forensic accounting is essentially litigation support involving accounting” (p. 6-8). Forensic accountants use their accounting skills to examine financial information and documents for use in legal cases to investigate fraud or embezzlement. The job requires technical skills in accounting, both investigative and legal. Forensic accounting is important because it represents the only truthful approach to gaining a deeper understanding on what exactly is going on behind the scenes of a business’s finances. There are four main types of forensic accounting services. The first and most popular is criminal investigation services. A lot of people would assume that the auditor would perform fraud or criminal investigations, but...
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...Chen Li studied the accounting major as an undergraduate student in Central South University from September 2008 to July 2012. During that time, as an exchange student, she went to department of business and administration of Illinois institute of technology for further study. During that time, she chose all kinds of accounting courses, especially in cost accounting and managerial accounting. After completing the bachelor’s degree, she entered Lehigh University and continues to study accounting in program of accounting and information analyses. Chen’s interest mainly focuses on financial accounting and managerial accounting. During the years of study, Chen maintained a major GPA of 3.5 while participate in all kinds of activities. She did a research which mainly researches the influence of independent director’s political connection to a company’s accounting information quality. Except for her research experience, she also had internships to make her understanding of accounting knowledge deeper. Last year, she went to Zhonglei Accounting firm and worked as an audit assistant, during which time she print and proof read annual reports and have a deeper understanding of them, participated in consulting service of internal control system. The year before, she interned in financial department of Sany, during which time she sorted out tons of internal audit report of the company and mastered basic operation of SAP (system applications and products in data processing. These work...
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...Additionally, my father has a MBA and did accounting work while I was growing up. I thus, decided to pursue accounting and found the subject to be entertaining. Unfortunately, I made some bad decisions while attending the University of Missouri which caused me to have to drop out and miss a semester of school. I then applied to Eastern Illinois and they were more than happy to accept me as a business student. I would say the absence that I had from school gave me renewed interest in pursuing my goals which led me to excel in my area of study. I was able to achieve the promising business scholar award within my first semester at school and the following year was invited to join Beta Gamma Sigma. That is a national college high honor society for students. My goal as an accounting major is ultimately to earn my 150 hours of course work so that I can sit for the CPA exam. I would say I can be very passionate about the field of accounting. The professors in the business building offer great advice and are always willing to help you determine the best path of study. I initially intended on double majoring in accounting and finance but one teacher spoke about the opportunity of getting my MBA and achieving my 150 credit hours for the CPA in the same amount of time. This seemed like a great opportunity and is my ultimate goal for college. After graduation and earning my CPA I would like to become involved in the practice of public accounting. I believe the first couple years of...
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