Accountant is the person who maintains business accounts and practitioner of accounting, which is the measurement and provision of assurance about financial issues that helps managers, share investors, tax return and others to make decisions. The work of charted accountant is to take a responsible like accounting, auditing, financial investments, project evaluation, business laws, corporate finance, taxation as well as corporate governance. Here we discuss some commerce terms which is necessary in your daily life and also for your general knowledge. These terms are given below-
What is Account? A record or narrative description of past events.
What is accounting? Logical list of related debits and credits of a business or we can say that its forms a part of ledger of accounts.
What is Accountancy? Accountancy means maintaining and auditing accounts and records for the business and preparing the financial reports for a business.
Accounting provides an evidence of managing transactions, this practice started on a large scale when economies were developed. In former time people was using double entry bookkeeping. Double entry bookkeeping simply refers to a system where credit and debit both are noted for every transactions. That time accountancy was necessary so traders could keep record of multiple transactions when economy was established. From using the computers for accounting, the organizations are moving towards computerizing their total operations and processes using the popularity called ERP packages. Accounting has developed in the 19th and 20th century and many people find confusion in accounting. Charted accountant works in all fields of business and finance, some are engaged in public practice, some in private sector and some are employed by government bodies.
The Chartered Accountants are accredited with substantial responsibility under different legislation such as compulsory audit of the all companies, banks, stock brokers, big income-tax accounts, large bank borrowers, etc. This shows the confidence and trust reposed by the Government and society in the business. The society has increasingly recognized the services of CAs in the all chain of management consultancy services including management accounting, management information and control system, international finance information technology and financial services sector.
Kevin Meaney is an online marketer in the Ireland based company. He loves to write on different topics. Now he is sharing information on Accountant Ireland. Please visit bmboland.com for more information about Accountant Ireland.
Can your SMSF borrow to buy an asset? Watch these case studies to learn more.
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CPA signs MOU with Nederex and Damen Shipyards
(Nederex) and B.V. Damen Shipyards Gorinchem (Damen) on the 30thof April. Damen Shipyards and Nederex are engaged in ship repair and the provision of maritime services. Last year CPA and Nederex signed a concession agreement with regard to the …
Read more on Curacao Chronicle
Indiana CPA Society Turns 100 on May 6
The Indiana CPA Society will mark its 100th anniversary on May 6. Originally formed in 1915 as the Indiana Association of Certified Public Accountants, the organization has grown to become one of the largest professional associations in Indiana with …
Read more on Benzinga
Here’s the full page: http://www.accounting101.org/how-to-pass-the-cpa-exam-in-3-months/
In this video I’ll show you how to pass the CPA exam fast, which is exactly what I did to pass all 4 sections in just 3 months.
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Accountants are valued for their ability to cut through legal jargon and complex financial information to deliver a clear picture to the clients they serve. Across public and private sectors, these skilled workers earn a healthy living in a career requiring formal accountant training.
Accountant Training Overview
Working as an accountant means putting your math, finance and organizational skills to work for the benefit of individuals and groups. Aspiring accountants choose between popular specialties in the field, such as:
Public Accounting. Work for corporations or individuals. May specialize in forensic accounting
Management Accounting. Work with companies on budgeting, cost management and accounting standards
Government Accounting. Work in the public sector, auditing businesses and monitoring government funds
Technology has reinvented the job description for accountants. While the job used to require tedious bookkeeping and data management, advanced software has helped automate much of the accounting process. As a result, accountants often take on high-tech responsibilities at work. Many use advanced computer skills to help troubleshoot and correct problems with the software they use.
The Bureau of Labor Statistics (BLS) reports that accountants earned mean annual wages of $ 67,430 in 2009. Those working in accounting, tax preparation, bookkeeping and payroll services earned slightly more, at $ 73,920, and those working for local governments earned less, at $ 57,490.
Although no accountant training program can guarantee you can secure a career or salary, training in this complex field is typically required or recommended by hiring managers. Accounting degree programs give you a chance to turn your mathematics and reasoning skills into a lucrative career.
Accountant Training: Degrees and Coursework
Working as an accountant typically requires a bachelor’s degree in accounting. Although much of the accountant’s world is automated, workers still need to have a nuanced concept of tax laws, corporate accounting, business finance rules and more. Earning the 4-year bachelor’s degree plus a CPA license provides the technical skills you need to support your existing strengths.
Because accountants often specialize within the field, accountant training programs offer a wide range of accounting training. Courses are also designed to help you find your ideal focus in the field as you try out different concepts and get a broader understanding of the industry. A bachelor’s degree program in accounting might include the following coursework:
Accounting courses are designed to give you the broad base of knowledge you need as they give you the power to specialize your knowledge in one aspect of the field. Ultimately, accountant training programs help prepare you for the CPA license examination. In order to earn a CPA in most states, you must:
Complete 150 hours of accredited coursework
Pass the four-part Uniform CPA Examination
Have some accounting experience
Experienced accountants looking for career advancement may consider earning an MBA with a specialization in accounting. Many accountants go on to higher levels of company infrastructure, meaning that training in management and leadership principles can serve you well as an accountant. Earning a master’s degree gives you an advanced level of skill that is easily customized to your job duties and career goals.
Accountant Career Outlook
The job outlook for accountants is expected to be good in the coming years. The BLS projects that 279,400 new jobs for accountants and auditors could enter the market between 2008 and 2018 for an overall growth of 22 percent. Opportunities are expected to be best for accountants who hold CPA certification.
Within the field, career growth is varied by your interests. Skilled and experienced accountants might rise to management or supervisory positions. Some accountants go on to open and lead their own accounting firms, while others move up the ranks within companies and take on head executive positions. Regardless of your ideal career path, formal education and on-the-job accountant training are a vital part of your success as an accountant.
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ASIC ramps up focus on SMSF property spruikers
"The judgement did confirm our view that those who promote and make recommendation to investors about establishing an SMSF or using an existing one to recommend that they manage their assets in a particular way or dispose superannuation assets are …
Read more on SMSF Adviser
ATO cracks down on rich older SMSF members avoiding tax
The Tax Office is cracking down on what it's described as "contrived arrangements" that allow hundreds of wealthy individuals with self-managed superannuation funds (SMSFs) to pay no tax on income from shares. Cases are still being reviewed and it's …
Read more on Sydney Morning Herald
Josh Frydenberg flags crackdown on SMSF borrowing
Assistant Treasurer Josh Frydenberg said the government will crack down on borrowing by self-managed superannuation funds but will not follow a recommendation of the financial system inquiry to ban it outright. An increase in SMSF borrowing to purchase …
Read more on The Australian Financial Review
Michelle Mone's former accountant who sued bra boss for £20k settles out of …
An accountant who sued bra tycoon Michelle Mone's firm for £20,000 has settled out of court for an undisclosed sum. Hugh McGinley, 53, quit his job at Mone's old company MJM Inter-national claiming he was caught in the middle of her split from husband …
Read more on Scottish Daily Record
Greenwich and Woolwich accountant provides advice for small businesses for …
Small business accountancy specialist Yogesh Pathmanathan who runs TaxAssist Accountants in Woolwich and Greenwich has provided advice for local businesses for the start of the 2015/2016 tax year. Yogesh said: “We want to ensure that busy, …
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Businessman 'swindles' accountant of N1.3m
He said the accused induced Mr Olushola Sonaike, an accountant, to part with N1.3 million under the guise of helping him to buy a second-hand Toyota Corolla car from the Republic of Benin. Okoye said Moruf failed to buy the car after receiving the money.
Read more on The Nation Newspaper
CPA:18 – Global Acquires Dallas Office Building Leased to Intuit
NEW YORK, April 30, 2015 /PRNewswire/ — W. P. Carey Inc., a global net-lease REIT specializing in corporate sale-leaseback financing, build-to-suit financing and the acquisition of single-tenant net lease properties, today announced the acquisition of …
Read more on CNNMoney
A CPA Answers: 'How Should Someone Estimate Taxes When Filing For An …
In our “Ask a CPA” Q&A series, we're ceding the floor to a certified public accountant to help address some of the trickiest tax topics out there. Today, we pose a common conundrum—how to estimate taxes when filing for an extension—to PJ Wallin, CPA …
Read more on Forbes
Six tips to maximize deductions, minimize mistakes
Whether entrepreneurs seek a professional or use software to prepare their taxes, adequate preparation is key. We asked three tax pros to suggest tips for small businesses on maximizing deductions, minimizing costly mistakes and reducing the risk of an …
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Taxes getting more complicated, says Regina accountant
He says there's a long list of tax exemptions and expenses you can claim that are tailored specifically for individual needs. For example, people who are diagnosed with Celiac disease can technically claim the difference in the cost of gluten-free food …
Read more on News Talk 980 CJME
Oppose the witch hunt on unions
The intended outcome of the Abbott government's Royal Commission into trade unions can be expressed in the scenarios of working weekends and night shifts without penalty rates, on a reduced minimum wage; no access to dismissal appeal; your union …
Read more on The Guardian (Australia)
CPA Ireland Calls For Tax Help For Start-Ups
The unfair tax treatment of Irish entrepreneurs means that they could be better off starting a business in the UK or the US, Brian Purcell, the new President of the Institute of Certified Public Accountants in Ireland (CPA Ireland), has said. Purcell …
Read more on Tax-news.com