Accounting is the discipline that provides informational reporting on all aspects of a company or organization's financial activities. This includes not just how much money came in and went out, but also the classification and summarization activity which contributed to profitability and financial health. For example: producing general ledgers for management information and analyses, developing accounting principles and systems in line with local regulatory requirements and practices for deploying them, assisting when fraud or other illegal activities are suspected or detected when reviewing transactions. Just this list is already far too long to include here.

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Accounting is ingrained in our society and it is vital

greater then economic profits,as accounting profits do not include implicit costs

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account period

accounting period depends on the person carrying the business. Normaly it starts from 1st april. people may have calendar year as an accounting year.

There are many objectives to accounting. A systematic accounting system will should have the following objectives: to maintain cash account balances, to detect fraud, and maintain ledger account balances.

Earning a degree in accounting is a key element in becoming a successful business professional no matter what career you eventually choose. Anyone with an analytical mind and basic computer skills can become adapt at accounting, as long as they have a basic instinct for applying details with numbers.

With a degree in accounting, you can expect to earn a great salary. The more you advance your studies, the more money you will earn. It’s an appealing profession that is a very popular choice for many college students.

What Is Accounting?

Accounted is organization, management and design and examination of reporting and recording procedures for business and financial transactions. There are specialized areas of accounting including budget, internal auditing, tax, public, cost and government. College students usually begin an accounting program by obtaining a Bachelor of Science degree. Many then go on to earn a Master’s degree in a business program.

A student can expect to begin accounting studies with courses related to finance like collections, disbursement, investment, borrowing and fund raising. All courses relate to money management. Typical courses include:

* Accounting, Intro, Intermediate, Advanced

* Accounting Information Systems

*Business Law

*Auditing

*Government and not for profit

*Cost Accounting

*Tax Accounting

During your college studies in accounting, you will learn how to use generally accepted accounting principles (GAAP), how to analyze and create a balance sheet, how to prepare law taxes, how to prepare tax filings, how to use accounting information systems and how to evaluate a company’s profitability. It generally will take approximately five years of study to earn a certified public accounting degree.

Training for a career in accounting is available at most colleges and universities, as well as online study.

Earning an accounting degree will pay off in a number of ways. With a degree, an adapt accountant can earn well over $60,000 to start. Not only does a degree in accounting offer access to many job opportunities, by continuing your education in accounting, salaries will increase as will opportunities. The accounting industry is growing and is always in demand. According to the United States Department of Labor’s Bureau of Labor Statistics, the number of auditors and accountants is expected to increase by 18% through 2016. This means that the accounting field is the fastest growing career of all occupations.

A degree in accounting can be applied to many areas of business. As an accountant, you can become a valued member of a financial and accounting team in almost any industry that interests you.

Trading companies can use accrual basis accounting; it is an accounting style where income and expenses are recorded. This is done regardless of when they were earned or spent even if the money has not yet changed hands.

The generally accepted accounting practice (GAAP) is followed. However when the business is too small, they practice cost accounting system or maintain rough accounts by themselves.

Because a business is all about money and management of money can only be done through accounting and not otherwise.

amount

Accounting can be political in nature because it is sometimes manipulated to make a company seem to be performing better than it is. Accounting will in some cases aim to bring out the strengths of the company and hide its financial weaknesses.

The working conditions of working in accounting will be good. You will work in an office setting and will usually work 8 hours a day.

Accounting - good or bad - is what makes or breaks a business. A good accounting system will provide the management with the tools to make profitable business decisions. Management, large or small, can see what's profitable and what's causing the business to lose money.

A poor accounting system, whether it is sloppy or just plain illegal can ruin a business. Management will make poor decisions based on poor or non-existent accounting systems. Management sometimes chooses to use accounting for unethical motives.

In either case, accounting IS ingrained in society and affects the economic system for better or worse.

Accounting is vital because is a gauge that gives an indication of how well the economy is growing, the areas that need improvement and the areas that need to be improved.

policies and procedures

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engineering. do engineering. you will be guaranteed a $20/hr job after graduation. one who holds an engineering degree can do any business related job, just not accounting. accounting on the other hand can do any business job, but not engineering. also not to mention, accounting is very very boring work. what's your pick? I'm doing civil. good luck

Hmmm....I think the last time I heard this question I was in my Accounting 101 class back in 1973. If you are a student, why not post your opinion and let others critique it? You won't learn just by posting your homework online.

Consistency

Lying alongside a debt

Yes.

journal

Accounting is a profession that has been around for an extremely long time, and people with accounting degrees have a vast array of job opportunities available to them. Accountants work in many different settings including small, medium and large businesses and corporations. In addition to the different settings that accountants can work in, there are several branches of accounting they can work in, as well. These different branches include internal auditing, public accounting, management accounting, government and public auditing and forensic accounting.

Among these various branches of accounting, public accounting typically offers more employment opportunities and larger salaries than the other branches. However, for those with excellent skills, other branches may be available that pay just as much. There is a vast array of accounting programs available both online and in traditional colleges that offer degrees in this lucrative field.

For those people who like the idea of training online in the comfort of their own homes, there are many online programs available. People will want to make sure, however, that the sites offering the programs have proper accreditation. It is also a smart idea to look for any reviews that previous students may have posted concerning the sites. If there are many positive reviews, the site will have a satisfactory training program. Reviews are usually posted in forums or various chat sites.

Another way to find top colleges or online programs for accounting is to search for top accounting programs in an online search engine such as Google. When people find schools or programs they may be interested in, they should also check to make sure that they offer a program in the branch of accounting that they desire.

To be successful in accounting students will need to have excellent computer skills, as all accounting jobs require basic knowledge of computers. They also need to be familiar with the leading software programs before they can successfully understand the intricacies of accounting.

In conclusion, a proper accounting program will teach students all they need to know to become an accountant, and make the auditing process easy. Once students complete their training in a traditional college or online program, it is best that they first apply for an internship to perfect their skills. After their internship, they can then go on to almost any accounting job they may want.

Accounting software is a type of application software used by accounting professionals or business owners to process accounting transactions and maintain accounts. Modern businesses need a comprehensive and automated accounting system to manage their financial transactions. Gone are the days when an accountant could handle a significant volume of financial data for an organization. This accountant would also prepare the firm’s financial statement and help with the day-to-day financial management tasks.

But, in today’s competitive market, businesses need to focus more on productive activities rather than spending their valuable time and money on drafting financial statements. Accounting System can automate a range of financial tasks. It helps minimize the risk of manual errors, which were quite common in manual entries.

Key features of Accounting Software:

Accounting

Billing and Invoices

Accounts Payable

Budgeting and Forecasting

Fixed Assets Management

Payroll Management

Fund Accounting

Inventory Management

Reports

Technology Counter a tech recommendation platform with reliable list of accounting software in India, so that you can explore, analyze and choose the best solution that suits your needs.

Reliability

expenses debit to party

C. a Journal

predictive and feedback and timing

Expensed as incurred

would have no impact on a decision maker.

yes

supplies

cash

Yes, Accounting would be a service function. A service is any business that provides a well "service".

There are 2 main types of business, Merchandising, where a business sells a product, such as Wal-Mart, Target, a local resteraunt.

Service, where the company is in business to provide a service, Accounting, Dry Cleaning, Landscaping.

Since accounting would be the provision of an Accounting Service, then it would be a service business.

"Accounting Equation is true under all circumstances." Justify this statement with the help of examples.

When you carry a balance and accept supplies from a supplier that require payment within 10 days, the accounting term is net 10.

"Accounting Equation is true under all circumstances." Justify this statement with the help of five

illustrations.

Accounting as business language suffers serious limitations. What are these limitations and what efforts are being made to remove them?

Accounting Equation is under all circumstances. Justify this statement with the help of five illustrations?

I have trouble in doing accounting work in real estate cash flow game. I have add. And it is very confusing. Can you help.

Thank You

Jerome Back

In the Journal Proper

Personal;Nominal;andReal

TRANSACTION

yes

Bansari

Membership revenue is a cornerstone of accrual accounting in which both revenues and expenses are recognized. Revenues are accounted for when goods are transferred or services rendered, even when no cash has been received yet.

the seller makes them when the goods return to his premises

The term you might be looking for is the "journal".

Manage appropriations and implement funds control.

Accounting concepts and conventions are fundamental principles that guide the preparation and presentation of financial statements. Key concepts include the accrual concept (recognizing transactions when they occur), consistency (applying the same accounting methods over time), and prudence (reporting potential losses but not unrealized gains). Conventions like materiality (focusing on significant data) and the going concern assumption (assuming the business will continue operating) ensure accurate and reliable financial reporting, providing stakeholders with a true picture of a company's financial health.

As your small business grows, an accounting firm can be a tremendous asset. Accounting firms can assist with putting together financial statements, preparing tax returns and giving tax-related advice. They can help your small business with computing employee payroll and handling quarterly and end-of-year bookkeeping. Accounting firms can also advise about short- and long-term investment strategies and recommend ideal insurance plans. Ultimately, accounting firms help to ensure that your small business becomes profitable and stays profitable. While an on-staff bookkeeper can keep track of your accounts payable and receivable, hiring an accounting firm will minimize the stress of your larger-scale financial management decisions. You are then free to stay engaged in the more creative and entrepreneurial aspects of your business.