Accountant Career Project: Report Business 101 Career Overview Accountants carry the primary responsibility for bookkeeping services such as payroll‚ bank reconciliations‚ general ledger posting‚ along with managing financial statement compilations and oversee efficient use of funds and related tasks. Correspondingly‚ they provide some Human Resource functions such as Employee Handbook compilation‚ and benefits management. Another responsibility of accountant’s is taxes:
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Internal Accountant’s Report to Management The company is thinking about performing a full financial status review prior the release of an upcoming government contract bid. This report will provide supporting information for a full financial status review prior to bid. This supporting information will include the impact of occupational fraud and abuse on the company and how the governmental oversight of accounting and fraud affects the company. The report will also provide potential corruption
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Week 3 Homework 16-26 Weaknesses in Jameson Company ’s Internal control procedures: INGREDIENTS INVENTORY 1. The raw materials are received by one of the employees of the batching department and it is only at the end of the day that tallies are given to the inventory control department. Reason: There is no control to ensure that the actual raw material signed in is actually received and used. 2. The inventory control department uses weekly reports of production and standard formula to
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chartered accountant has changed over time. They are not merely postmortem officers. Five years back‚ people used to think that the chartered accountants are Compliance Officers. Today‚ they have proved that the Chartered Accountants are not the Compliance Officers but are the Business Solution Providers. Today‚ the Chartered Accountants are the strategic partners‚ business solution provider. Their function is not restricted to accounting‚ auditing or banking. Today the Chartered Accountants have a
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Accounting is more than just adding numbers and being good at math. Accountants have to “ensure that financial records are accurate and that taxes are paid properly on time.” (Bureau of Labor Statistics [BLS]‚ 2012‚ para. 1). There are several different types of accounting. These types include‚ auditors‚ forensic‚ public‚ tax professional‚ financial advisor‚ and consultants. It takes a lot of hard work and dedication to become an accountant. You have to go through years of school to earn your degree‚ already
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Born: January 8‚ 1964 (age 49) Nationality: British Field: contemporary artist Marc Quinn is a contemporary artist who is best known for using incredibly weird props such as his own blood‚ ice and faeces.in his early career he studied history and the history of art at Robinson College‚ Cambridge‚ he also worked as an assistant to the sculptor Barry Flanagan. Quinn has exhibited exhibitions including Sonsbeek ’93‚ Arnhem (1993)‚ Give and Take‚ Victoria and Albert Museum‚ London (2001)‚ Statements
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department may suffer from an overpriced product of candy bars‚ chews and other sweets since each division is a profit centre and tries to maximize their profit. As a result‚ organizational goals are ignored or overlooked. ROLES OF MANAGEMENT ACCOUNTANT Over the years‚ it is believed that ‘new’ techniques have been introduced to overcome a claim that ‘outdated’ management accounting practices had provided misleading information for planning‚ controlling‚ decision making and communication. The
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Bookkeepers vs Professional Accountants Many bookkeepers in our world today define themselves as accountants‚ but what is the difference between a Professional Accountant and a Bookkeeper? This essay aims discuss and examine the relationship between each of the occupations‚ examine the differences that sets the two occupations apart and then explore what makes an accountant a professional in today’s world. Comments made by third parties will be looked at in depth in order to reach a fair conclusion
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Boards (GASB) - The FASB and GASB’s primary functions are the development of generally accepted accounting principles for business and not-for-profit entities‚ and state and local governmental entities. * American Institute of Certified Public Accountants (AICPA) - After the statements and interpretations issued by both boards‚ the AICPA recognized them as constituting GAAP * Securities and Exchange Commission (SEC) – The SEC has the authority to establish GAAP for companies under its jurisdiction
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Tax Description Income Tax is a tax on a person’s income‚ emoluments‚ profits arising from property‚ practice of profession‚ conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of 1997 (Tax Code)‚ as amended‚ less the deductions and/or personal and additional exemptions‚ if any‚ authorized for such types of income‚ by the Tax Code‚ as amended‚ or other special laws. Types of Income Tax Personal Income Tax (PIT) is a direct tax levied on income
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