work with a company’s money? Not all Accountants do the same thing even if they have the Degree. Not many people chose to become accountants because of the tedious paperwork or the math that is involved. This field grows as the money people make or lose grows. As an accountant, people look at others money. Money is what helps people survive and flourish. Business all over the world need accountants to prepare finance documents. Even if one becomes an accountant there are still many fields on could
Words: 914 - Pages: 4
detail the methodology used to determine deferred taxes, the procedures for reporting accounting changes and error corrections, and the rationale behind establishing the subsidiary as a corporation. At the root of the advantage of using Certified Public Accountants in our examinations are their reputation, independence, and overall competence to provide the required results. CPA’s are highly trained, have very high standards of ethics, and can simply provide a more detailed and thorough service for
Words: 317 - Pages: 2
Choosing a career as a certified accountant has become more complicated –that is choosing between becoming a CPA or a CMA. Never the less, receiving a certification in either of these two has the benefits of a higher salary, greater job opportunities and the chance of getting paid for your talent. Moreover, both Certified Public Accountant (CPA) and Certified Management Accountant (CMA) designations are highly recognized certifications in the accounting profession, but each has its distinct set
Words: 1398 - Pages: 6
part of management accounting which establishes budgets and standard costs and actual costs of operations, processes, departments or products and the analysis of variances, profitability or social use of funds” (Chartered Institute of Management Accountants - CIMA) “That which identities, defines, measures, reports and analyses the various elements of direct and indirect costs associated with producing and marketing goods and services. Cost accounting also measures performance, product quality and
Words: 552 - Pages: 3
11/17/2013 Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations Although forensic accounting is not a new field, it has become more talked about since cases like Enron came to light. For someone interested in the Forensic Accountant profession they should know that this field can be time consuming, but very
Words: 1994 - Pages: 8
The Institute of Management Accountants (IMA) and the American Institute of Certified Public Accountants (AIPCA) stress the need for their members to follow a code of ethics. The AICPA code is the primary source of guidance for those that practice public accounting while the IMA is concerned with a broader role for accounts and financial professionals that work inside the companies. There are likenesses and there are variances between the two but the main objective is to set professional standards
Words: 554 - Pages: 3
AUDITING AND THE PUBLIC ACCOUNTING PROFESSION AUDITING AND ASSURANCE SERVICES DEFINED Auditing plays a vital role in business, goverment, and our economy. As a vocation, auditing offers the opportunity for challenging and rewarding careers in public accounting, industry and goverment. Many auditors develop a client based with a concentration in one or more key industries. As a result of serving many client in similar industries, few individuals understand the key competitiveness factors for
Words: 2797 - Pages: 12
discoveries the use of accounting can be dated back almost 7,000 years ago. Many of today’s accounting practices came from the Italian Renaissance. The sophistication of double entry accounting was accompanied by an overwhelming demand for professional accountants to follow the guidelines. The expanding profession of accounting really took off with the coming of the Industrial Revolution in America. The use of accounting practice has been around for ages and the growth of the use and practices can be seen
Words: 538 - Pages: 3
• Financial Statement Certification • What Is a Certified Financial Statement? • Audit Procedures for Income Statements • Phases of the Audit Process A financial statement audit is an engagement performed by an independent accountant to provide assurance that an entity’s financial statements are reported in accordance with accounting principles generally accepted in the U.S. Specifically, certified public accountants, or CPAs, are obtained to provide audited financial statements
Words: 615 - Pages: 3
over 500 years from the basic concepts of Luca Pacioli set forth in the 1400s. It governs how financial statements are prepared and presented in the United States. The Financial Accounting Standards Boards (FASB), the American Institute of Certified Public Accountants and the Securities and Exchange Commission (SEC) provide guidance about acceptable accounting practices. Some of the reasons we use GAAP are that any business that expects anyone from outside their company to look at their financial data
Words: 309 - Pages: 2
