Accounting is essential for any business, government entity and even the individual. Accounting is the business of adding up profits and expenses for a given month. Through regular accounting, a business owner is able to decide whether he or she can afford to spend extra money in funding the business. A business owner will be able to spend extra money to maintain a business if his or her accounts are profitable for the month. Because businesses will always have a need for accounting, accountants can enjoy great job security.
Goals of an Accountant
A good accountant will attempt to ensure that a person’s personal accounts are in order at all times. He or she will make sure that no one has hacked into the person’s accounts, or that the accounts are not being charged unnecessary fees by financial institutions. When an accountant works for a business, his or her job is to make sure that no fraud is occurring internally within the business. An accountant will keep close watch of all accounts to make sure that employees are not taking funds from the accounts. An accountant may need to do regular audits of the accounts within a business. An accountant is also responsible for maintaining the ledgers for each account. If the ledgers do not equalize at the end of an audit, then an accountant will need to figure out the problem.
Subjects Involved in Accounting
A person should enjoy working with numbers and doing math problems if he or she wants to pursue a career as an accountant. It is essential that a person have strong analytical abilities. It is also important for a person to be very organized. Organizational skills are at the heart of being an accountant. To pursue a career in accounting, a person should prepare by pursuing an associate’s or a bachelor’s degree in accounting, finance or business administration.
Accountants now face heavy pressure in ensuring the a company is compliant with financial regulations that have been set forth by the government. An accountant will be responsible for submitting reports to the legal teams for a corporation. He or she may also need to create public disclosure statements that can be viewed by shareholders. An accountant has the responsibility of ensuring that a business is not engaging in fraudulent activities that would harm the interests of shareholders.
Becoming a CPA
People who work as accountants will typically decide to pass the necessary exams in order to become CPAs. To become a CPA, one has to pass a very difficult exam. When you work as a CPA, you will be able to audit the financial statements of companies. You will also be able to serve as a consultant. A CPA will usually consult on tax issues for a company. A CPA will also do all of the financial planning for a company. He or she may also work with the legal team that is part of a company.