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Finance and Accounting Essay Example

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Finance and Accounting

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On the most basic level, accountants keep and inspect financial accounts for companies, government institutions and individuals. Some accountants are self employed while others work for large firms. Most accountants work full time though some work part time. Those who work part time are usually busier during end of financial year and during tax season (Ryan, 2004, 45). Most accounting professionals have at least a bachelor’s degree which usually takes four years to complete. However there are accounting associate degrees. With more education and experience accountants can become certified.The certified accountants can do more tasks than other accountants as they can sign the financial documents submitted to the Securities and Exchange Commission. They can also easily advance their careers to management positions and can also easily specialize in one area of interest. Certified accountants can also perform audits, review statements and represent clients before IRS. On the other hand it takes considerably more time and resources to become a certified accountant. To become a Certified Public Accountant a minimum of a bachelor’s degree is required academically. Some states even require advanced coursework besides a bachelor’s degree. Students who later become accountants tend to excel in math and have excellent analytical skills. They also need good interpersonal skills since they have to deal with many categories of clients. Accountants also need strong organizational skills and should be detail oriented. Accounting records must be accurate as businesses need them to make sound financial decisions.In 2012 the industry that employed most accountants was accounting, tax preparation, book keeping and payroll services industry with 25% (Robinson, 2012, 38). Accounting is helpful even at a personal level in budgeting, finding out how much one has spent in a given period of time. Interpersonal skills are important since especially at the entry level most accountants work as auditors and generally auditors are loathed by almost everyone in the organization because of the nature of what they do. Therefore people skills are important (Alba, et. al, 2005, 103).Financial managers help organizations, both public and private, to develop and manage financial objectives. It encompasses many duties and job titles including credit

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References

Alba, J., Bathija, M., Thornton, M., & Vault (Firm). (2005). Vault career guide to accounting. New York, NY: Vault Inc

Gulko, C. S. (2010). Accounting, business, and finance. New York, NY: Ferguson

Robinson, T. R. (2012). International financial statement analysis. Hoboken, N.J: John Wiley & Sons.

Ryan, B. (2004). Finance and accounting for business. London: Thomson Learning.

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preview essay on Finance and Accounting
  • Pages: 8 (2000 words)
  • Document Type: Essay
  • Subject: English
  • Level: Masters
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