Accounting 101 E-Book
What is Accounting? Accounting is the compilation of data of economic resources organized into reports for use
by interested parties both internal and external to an organization. The internal partials are management and owners.
External parties include government agencies, banks, investors and creditors.
The demand for accounting has increased dramatically over the years. Due mostly to changes in laws, set forth the
government, the need for highly trained accountants has risen.
What is Accounting? Accounting is the compilation of data of economic resources organized into reports for use
by interested parties both internal and external to an organization. The internal partials are management and owners.
External parties include government agencies, banks, investors and creditors.
The demand for accounting has increased dramatically over the years. Due mostly to changes in laws, set forth the
government, the need for highly trained accountants has risen.
Accountants are said to be in practice or either private
accounting or public acocounting.
- Private accountants are employed by
businesses or non-profits. Another form of
private accountants are known as cost
accountants.
- Cost accounts are highly sought after by
manufacturing firms.
- Controllers and CFO's generally head up
departments with several staff
accountants and accounting clerks
working for them.
- Certified Managerial Accountants or
CMA's are considered to be of the highest
quality of private accountants due to being
certified by a board.
- Individuals holding a certificate of internal auditing or CIA's are also highly sought after by larger firms
and corporations. They provide audits internally at a cheaper cost than by hiring a Public accountant.
- Public accountants generally work for a fee. These individuals hold a title known as Certified Public
Accountants or CPA's. To be a CPA you must pass a board exam and meet your state requirements for
education. Many states now require 150 credit hours with a concentration in accounting.
Accounting Solutions is your one stop source for all your bookkeeping needs. We also can help you choose the
right book keeping software for your business. Ask us also about our business tax specialists.
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