| Are you considering an accounting education but | | | | Cost accounting refers to the specialty of |
| confused by all the jargon? This is a quick guide | | | | accounting that deals with analyzing, tracking, and |
| to understanding the different specialties | | | | recording business costs. Cost may be measured |
| associated with accounting careers and the | | | | not only in money, but in time.o Time keeping and |
| training you will need to be successful. | | | | payroll clerks do just what it sounds like; they |
| Business cannot function without people who | | | | keep track of workers' time sheets and payroll. |
| monitor, evaluate, and synthesize productivity, | | | | Training for accounting careers varies. For many |
| financial, and resource data. Accounting, or | | | | jobs a bachelor's degree in accounting is not |
| accountancy, is the practice of collecting and | | | | necessary, though some education or experience |
| measuring data in order to allocate resources. | | | | is generally required. Accounting training programs |
| Most often accounting is specific to a business's | | | | often involve computer classes to familiarize |
| finances. Auditing is a related field whereby | | | | students with the applications used in the |
| records are reviewed and a conclusion reached; | | | | workplace. Those in the accounting field must be |
| resulting in a recommendation for action; geared | | | | comfortable using spreadsheets and other financial |
| to ensure efficiency and to improve performance | | | | and accounting software (QuickBooks, Microsoft |
| and ensure adherence to standards and principles. | | | | Excel) as well as word processing software such |
| A simple example of the workplace relationship | | | | as Microsoft Word. Close attention to detail is |
| follows: An accountant would enter and keep | | | | essential, as is an aptitude for numbers and order. |
| track of payroll and company expenses. An | | | | A high level of trustworthiness and discretion is |
| auditor would review the records kept by the | | | | also essential as much of the information |
| accountant to determine if money and time are | | | | processed is confidential. Office experience and |
| being well spent. | | | | communication skills are also essential in the |
| When people think of auditors, the first thought is | | | | workplace. Certified Public Accountants (CPAs) |
| probably one of an IRS man in a suit with a stern | | | | must undergo a four-part, two-day exam |
| expression coming to make sure you paid your | | | | administered by the American Institute of |
| taxes. While this type of auditor exists (not to be | | | | Certified Public Accountants (AICPA) and are |
| feared if you have been a good record keeper) | | | | required to complete a minimum of 150 college |
| auditors are usually individuals who are hired to | | | | credit hours (this is 30 hours more than the usual |
| evaluate the accuracy of accounts kept by a | | | | needed to graduate with a bachelor's degree.) The |
| company. Their analyses help management | | | | exam is considered to be quite difficult, and many |
| determine effectiveness and efficiency. | | | | do not pass all four sections at one time. Partial |
| Accounting professionals often deal with time to | | | | credit is usually awarded as long as the candidate |
| money ratios. In order to keep track of all these | | | | passes at least two sections. |
| numbers, professionals must be well able to use | | | | As with any career, an interest in the subject |
| computers; specifically spreadsheet applications | | | | matter is helpful. Someone who hates math |
| (such as Microsoft Excel). | | | | should probably not consider an accounting career |
| Accountants often specialize in one field. Jobs | | | | just as someone who hates English should steer |
| include bookkeeping, tax accounting, cost | | | | clear of copywriting. |
| accounting, accounts payable, accounts receivable, | | | | Remember, it never hurts to do a little research |
| time keeping and payroll.o Accounts receivable | | | | and ask questions about programs. School |
| refers to incoming payments.o Accounts payable | | | | representatives are always happy to help |
| refers to debits and outgoing payments.o | | | | prospective students find out more about their |
| Bookkeeping refers to recording transactions and | | | | offerings. Accounting careers are diverse and |
| calculations.o Tax accounting in its simplest form | | | | abundant; why not change your future with an |
| refers to the specialty of preparing tax returns.o | | | | accounting education? |