CAREERS IN ACCOUNTING
DIVISIONS IN THE ACCOUTING DEPARTMENT
Credit Control
If someone we don’t know orders goods, we have to make sure he can pay before we supply them , that is the job of Credit Control
Internal Audit
To audit the books means to inspect the financial records to make sure they are in order, internal checks should be made quite often.
Forecasting
The most splendid new ideas very often may let the company in for a great deal of expense and very little return, so absolutely everything has to be forecasted before it can be put into effect.
Financial Accounting
Financial Accounting and Management Accounting really mean that every single item of expenditure or income, from huge bank loans to petty cash tea and biscuits had to be properly recorded and accounted for.
Management Accounting
Wages
Accounting is a system of gathering, summarizing, and communicating financial information for a business firm, government, or other organization.
Links to useful accounting information
ACCOUNTING AREAS
PRIVATE ACCOUNTING
Financial Accountant
A financial accountant prepares various financial reports and statement needed by both external and internal users, also known as stakeholders
Cost Accountant
A cost accountant determines the cost of producing specific products or services.
Managerial Accountant
Managerial accountant prepares financial reports to be used by internal users only, such as the business management or executives.
Budget Accountant
An accountant in this field prepares and develops a budget or financial plan of the business for the future.
Tax Accountant
A tax accountant computes and prepares the various tax returns and requirement of the business.
Accounting Information Systems
Accountant in this area designs and implements the accounting system of a business, either manually or computerized.
Internal Audit
An internal auditor reviews if there are controls in place or if the accounting procedures are operated properly by the management of the accounting department to ensure accurate and timely financial reports
Controller
In private accounting, one person will oversee and supervise the whole accounting process of the company, and such person is referred to as Controller.
Chief Financial Officer (CFO)
PUBLIC ACCOUNTING
External Audit
An accountant in this area conducts an audit, an independent examination of the business accounting records and procedures of the client, in order to provide independent expression of opinion regarding the fairness and accuracy of the financial reports of the business
Tax Consulting
Tax consultants or specialist provides consulting services or advices to clients regarding tax planning and preparation of tax returns, as well as representing client before tax government agencies.
Management Consulting
Accountant in this field should have training and experience with financial and management accounting in order to provide sound advice and services regarding managerial issues of the business.
Review Engagements
Public accountant engaged in review engagement are requested to review the accounting records and procedures of the business in order to determine whether the reported financial statements are reliable and fair.
GOVERNMENT AND NOT FOR PROFIT ACCOUTING