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