Essay - Introduction Accountants No Longer Sit at a Table with a...

Introduction

***** no longer sit at a table with a 10-key adding machine, tallying numbers. They have a v*****riety of careers to choice from in this interesting and challenging pr*****ession.

Different Types of Accounting

There are differences in financial accounting and tax accounting. Financial accounting is concerned with the results of audits, along with the profit and loss sheets of businesses. These accountants help inves*****rs and creditors decide where to put their capital. Besides *****ing with investment portfolios, financial accountants also help people plan for their retirement. In contrast, ***** accounting ***** a specialized field th***** deals wi***** business and personal income taxes, state ***** local taxes and the ever changing tax laws (http://mdhs.haltonbe.on.ca/Business/*****/modules1/acunit1.html).

Tax accounting can be divided into three segments which include public *****, private or corporate accounting and government *****.

Public accounting deals with individual income taxes. Private or corporate accounting advises businesses on their income taxes after going over ***** financial statements and assist in filing quarterly tax returns. These ***** also ***** with financial planning for ********** organizations. Government tax ***** ***** ***** ***** agencies tax keeping records (http://www.allbusinessschools.com/faqs/accounting.php).

Jobs for CPA's

CPA's today aren't limited to doing only taxes. The world is changing and so are the opportunities that are available.

One choice a CPA can make ***** becoming either an internal or external audi*****r. Internal auditors work for the company and have usually have unlimited access to ***** accounting books and the board ***** directors. They know about the industry conditions and problems that may cause someone to manipulate the ***** books. External auditors don't ***** for a specific company and ***** brought in to go over the books and help find any discrepancies. They ***** give advice on how ***** cut costs and increase *****s. Companies are finding using both auditors together ***** actually save them more m*****ey since each has their own level of expertise (1997).

Another opinion for a CPA is working in the manufacturing industry. These accountants are in charge of mak*****g sure supplies are ordered and paid for in a timely m*****nner. They also keep up with the expense reports of salesmen and managers who travel ***** the comp*****. Not ***** do they order s*****plies, but they look at ways to cut ***** by evaluating ***** item periodically.

Conclusion

With the different kinds of accounting and various opportunities for **********, accounting today *****esn't have to be limited to income taxes ***** IRA's. Those with a love ***** math will find it a rewarding c*****er field.

***** Cited

*****: The Language of Business (accessed 10-25-2002)
http://mdhs.halton*****.on.ca/Business/Accounting/modules1/acunit1.html

Accounting (accessed *****). (http://www.allbusinessschools.com/faqs/accounting.php)

Reckers, Philip MJ. "Operationalizing SAS65:a decision aid approach. (Statement of Accounting

Standard; evaluating internal auditors)." The Ohio CPA Journal. (1997) 21