Preview

The Role of an Accountant

Better Essays
Open Document
Open Document
1272 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Role of an Accountant
The Role of an Accountant
American InterContinental University
Accounting

Abstract
Recently I was asked to give a speech at a high school career fair. The main focus of my speech is discussing my role as an account and what students should know. In this presentation I will present the students with the main objectives of accounting. I will also inform them of the terminology of the accounting process or financial reporting. Then I want to talk about how accounting can affect their personal life with an emphasis on professional ethics. And lastly, I will talk about how technology has played a role in small business accounting.

The Role of an Accountant
When most people think of an accountant, they think of a person who is charged of a person’s finances. But the truth is there is more to an accountant than just managing finances. There are different types of accountants that do different types of jobs. There are Public Accountants, Management Accountants, Government Accountants, and Internal Auditors. During this presentation I want to inform the students of what an accountant really is. I will discuss what the primary objectives are and some of the basic terminology that is used in the accounting process. I will also discuss how accounting has affected my personal life with an emphasis on professional ethics. And lastly we will discuss how technology has played in small business accounting.
One of the most important objectives of accounting is to ensure that they keep your business running smoothly. Another one of their main objectives is to track a company’s spending and income. They keep track of where the money is coming from and where it 's going. They provide information on important subjects like costs, prices, sales volume, profits, and return on investment. They provide decision makers with information that helps them make a more informed decision. They offer important information to both


References: [1] Accounting Principles. (n.d.). Retrieved from M.U.S.E. website: https://class.aiuniv.edu/_layouts/ MUSEViewer/MUSE.aspx?mid=MU13170 [2] Board, E. (n.d.). Accounting I & II. Words of Wisdom LLC. [3] The Effectiveness of Information Technology on Accounting Applications. (n.d.). Retrieved from Chron Website: http://smallbusiness.chron.com/ effectiveness-information-technology-accounting-applications-2102.html
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Satisfactory Essays

    ACC 421 Accounting Cycle Paper Week 1
    • 580 Words
    • 3 Pages

    ACC 421 Accounting Cycle Paper Week 1

    The purpose of accounting is to accumulate and report on financial information about the performance, financial position, and cash flows of a business. This information is then used to reach decisions about how to manage the business.…

    • 580 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    ACC 504 Course Outline Winter 2015 All Sections

    • 4714 Words
    • 18 Pages

    ACC 504 Course Outline Winter 2015 All Sections

    This course begins with a conceptual review of accounting principles, and reviews issues studied in earlier courses from the point of view of the effects that accounting choices and “creative” accounting have on financial statements. This course emphasizes the role of communication in the accounting profession. Critical thinking and problem solving skills are developed through extensive case analysis.…

    • 4714 Words
    • 18 Pages
    Powerful Essays
    Read More
  • Good Essays

    Accounting 371 CA1-6 pg 26
    • 947 Words
    • 4 Pages

    Accounting 371 CA1-6 pg 26

    Accounting quantifies operations, summarizing information, giving people the ability to see a situation from different perspectives. It 's one thing to look at sales numbers for the year, but when you combine that with expenses, you can derive many issues, such as if the expenses are too high for sales or if payroll is unusually low, you can make certain decisions about those areas. Accounting numbers help in making sound decisions based on real data and not just a hunch. By looking at accounting numbers you may easily see old accounts receivable that need to be collected, for example. Without accounting data, you may not know who owes what and for how long. These numbers are practical and valuable to any business. Accounting numbers are usually used for analysis and to answer questions. If you want to know how much rent expenses you have left in your budget, you need to look at accounting numbers. They may give you summary information about how much rent you have spent and how much you have left over.…

    • 947 Words
    • 4 Pages
    Good Essays
    Read More
  • Better Essays

    Acc 280 Financial Statements Paper
    • 1007 Words
    • 5 Pages

    Acc 280 Financial Statements Paper

    Accounting is a business discipline that allows companies to record, analyze, and retrieve critical financial information that can be used to determine a company 's financial status. Its purpose is to help people understand what is going on financially within an organization provide reports and insights needed to make sound financial decisions. Effectively communicating this information is key to the success of every business. This information is reported in the form of four financial statements.…

    • 1007 Words
    • 5 Pages
    Better Essays
    Read More
  • Good Essays

    Case Study of Terracota Brick Layering Industry
    • 536 Words
    • 3 Pages

    Case Study of Terracota Brick Layering Industry

    The role of accounting in general is to provide useful and relevant key information to assist management in its decision making.…

    • 536 Words
    • 3 Pages
    Good Essays
    Read More
  • Better Essays

    Acc 280 Principles of Accounting Week 1 Ia Financial Statements
    • 877 Words
    • 4 Pages

    Acc 280 Principles of Accounting Week 1 Ia Financial Statements

    Accounting is the financial information system, which provides the understanding of what is happening financially in the company insights and provides an exceptional contribution to the success of any small or large company. Specifically, accounting assists company owners in their management decisions by providing valuable financial information. In an accounting career there is a set of customary principles and regulations guide to follow in financial reporting. The three basic activities in accounting are identifies, records, and communication.…

    • 877 Words
    • 4 Pages
    Better Essays
    Read More
  • Satisfactory Essays

    Unit 5 p1
    • 669 Words
    • 3 Pages

    Unit 5 p1

    Accounting includes recording of financial transitions, the main purpose of accounting is to gather financial information about performance and cash flows of a business. These transitions are gathered so that financial information can be gathered from it, the information that is used is to decide how to manage the business in the right manner.…

    • 669 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Acc 422 Syllabus
    • 1022 Words
    • 5 Pages

    Acc 422 Syllabus

    This course is the second of the three part series of courses related to intermediate accounting. This section examines the balance sheet in more detail, including intangible assets, current liabilities and contingencies, long-term liabilities, as well as cash and cash equivalents. Interwoven in the presentation of the material is an assortment of ethical dilemmas that encourage discussions about how the accountant should handle specific situations.…

    • 1022 Words
    • 5 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Unit 3 P1
    • 769 Words
    • 4 Pages

    Unit 3 P1

    The main aim of any business is to earn profits and also to remain solvent, i.e., it should have enough resources to pay its employees, creditors and to carry on with the day-to-day activities of the business. The main purpose of accounting system is to prepare financial statements, that will help the various external and internal parties of the business to appraise the profitability as well as the solvency of the business. The three main financial statements that are prepared for the purpose of accounting information are as follows.…

    • 769 Words
    • 4 Pages
    Good Essays
    Read More
  • Better Essays

    Accounting as a Career for High School Presentation
    • 1020 Words
    • 5 Pages

    Accounting as a Career for High School Presentation

    In the simplest terms, the role of the accountant is to keep track of the financial situation of a company, with the two most basic concerns being the solvency (the ability of a company to pay its employees and other costs of operation) and the profitability. (2) To remain in business a company must be able to pay its payroll and its bills- this has to do with making sure the business has adequate cash on hand at any time to pay the expenses required for ongoing operation. The main goal of most businesses is to make money- so the accountant’s role includes analysis of business activities from the point of view as to how they contribute to the ability of the company to show a profit.…

    • 1020 Words
    • 5 Pages
    Better Essays
    Read More
  • Good Essays

    Outlook Of Accounting Research Paper
    • 382 Words
    • 2 Pages

    Outlook Of Accounting Research Paper

    The Bureau of Labor Statistic claims that there are approximately 1.2 million accounts in the United States, most being in cities and regions with lots of businesses. The responsibilities of an accountant require making sure financial records are accurate. This includes making sure taxes are paid on time and with proper information. Accountants also are the ones who put together and prepare as well as enamine a person or businesses finances. This paper elucidates the current outlook of the accounting environment, and supplies information on the duties and responsibility of a Financial Planner.…

    • 382 Words
    • 2 Pages
    Good Essays
    Read More
  • Better Essays

    Financial Statements Paper
    • 1105 Words
    • 5 Pages

    Financial Statements Paper

    What is the purpose of accounting? The purpose of accounting is to provide the information that is needed for sound economic decision making. Businesses use financial and managerial accounting; financial accounting is to provide information about the business to the external parties such as investors, creditors, and tax authorities and is regulated according the Generally Accepted Accounting Principles guidelines. Managerial accounting is use for internal decisions making and doesn’t follow any type of rules issued by standard-setting bodies.…

    • 1105 Words
    • 5 Pages
    Better Essays
    Read More
  • Better Essays

    Accountant: Accountancy and Modern Business
    • 611 Words
    • 3 Pages

    Accountant: Accountancy and Modern Business

    In order to understand and analyze 'accountants' deeply, the basic information of it should be provided about them, such as the definition, where they work and what they do. In the conventional sense, accountants are concerned with recording and keeping financial accounts of businesses, which is one of the most important parts of accounting. However, it is just the tip of the iceberg. Shani Hartley (2010) points out that accountants convey and communicate financial information via the ways of accounts, advice and reports. Therefore, they not only help businesses make bigger profits in favourable times but also bring them out of difficult positions in the trying times. In addition, accountants' work places are very flexible. They are employed by accounting companies, private businesses, governments and other organizations; in other words, they work throughout all industry areas (Hartley, 2010, p. 2). Thus, accountants can work for both individual and corporate businesses.…

    • 611 Words
    • 3 Pages
    Better Essays
    Read More
  • Better Essays

    The Dilemma of an Accountant
    • 1015 Words
    • 5 Pages

    The Dilemma of an Accountant

    Studying the ethic case the dilemma is whether Dan Potter, who was assigned to an audit assignment should go by the audit and guidelines or whether he should disregard the ethical standards and continue to follow the instructions of his immediate boss. Dan Potter is working as a staff accountant at Baker Greenleaf. Dan final had an opportunity on first major audit assignment. This assignment required him to work under the supervision of his senior, Oliver Freeman, on an audit for a client's subsidiary. The Big Eight Firms shares the work. At the start of the work, Gene, his assistant, told Dan that Oliver was a strict authoritarian and a very inflexible man. During the course of the audit, Dan came across a material misstatement that legally required him to issue an "except for" opinion but his supervisor insisted on issuing a clean audit opinion, upon which Dan had several heated arguments with his supervisor. These events led Dan to question whether he should do as instructed by his supervisor or follow the codes on ethics and professional integrity.…

    • 1015 Words
    • 5 Pages
    Better Essays
    Read More
  • Powerful Essays

    Accounting Research Chapter 1
    • 2713 Words
    • 11 Pages

    Accounting Research Chapter 1

    The chapter begins with an explanation of the term “accounting” and its importance to the business world. The text discusses how accounting information is needed by various decision makers—individuals, businesses, investors, creditors, government regulatory agencies, taxing authorities, non-profit organizations, and others. Financial and management accounting are compared. A brief history of accounting and the role of ethics in accounting are presented. Students learn about accounting organizations and the three main accounting designations in Canada—CA, CGA, and CMA—and why each body, as well as individual businesses, have standards of conduct for their members and employees. The proprietorship, partnership, and corporate forms of business are briefly described. Generally accepted accounting principles (GAAP) are introduced and the economic-entity assumption, the reliability characteristic, the cost principle of measurement, the going-concern assumption, and the stable-monetary-unit assumption are explained. The next section of the chapter introduces the accounting equation for a proprietorship: Assets = Liabilities + Owner’s Equity. Each element of the equation is defined. The proprietorship form of business organization is the focus of the remainder of the chapter. Examples of a variety of transactions are analyzed and their impact on the accounting equation is discussed. The financial statements—income statement, statement of owner’s equity, balance sheet, and cash flow statement are illustrated. The interrelationship of the financial statements is emphasized. Chapter 1 ends with an introduction to international financial reporting standards (IFRS) and an explanation of how IFRS will be presented in the other chapters.…

    • 2713 Words
    • 11 Pages
    Powerful Essays
    Read More

Related Topics