accounting hall high school ms. mcdermott. accounting exciting and challenging system of...
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What is Accounting• The language of business.
Sensible Business Decisions
Good Judgments
Successful Business
Careers in AccountingEntry Level
Accounting Clerk
Sorts, records and files data
Can specialize
Bookkeeper
Entire bookkeeping process
Supervise account clerks
Pathway to a Career
A sound, fundamental knowledge of accounting
allows you to navigate through the various paths
to reach your career goal.
CPA
Certified Public Accountant
Requirements vary from
state to stateU. S. citizen At least 21
years old
College graduate with
major concentration in accounting
Comprehensive two and
one-half day exam
Public Accounting
Does not work for any specific company
Auditor Management advising
Tax advising
General accounting
Performs services for individuals and organizations
Private Accounting
Employed by a specific company
General accountant
Industrial accountant
Management
accountant
Controller (chief
accountant)
Not-for-Profit Accounting
Employed by organizations the operates for an objective other than that of
earning a profit.
College or university
Public hospitals
Public charity
Government agency Church
Forensic AccountingWorks in
major accounting
firms
Investigating mergers and acquisitions
Tax investigation
s
Economic crime
investigations
Civil litigation support
Specialized audits
Terrorist investigation
s
Generally Accepted Accounting Principles (GAAP)
• Rules that govern how accounting personal measure, process and report financial data.
Financial Data
Report
Measure
Process
GAAP
Adequate
disclosure
Cost principal
Materiality
Objectivity
evidence
Going concern
Business entity
concept
Consistency
Matching
principal
Realization
principal
Accounting Organizations
American Institute of Certified AccountsFinancial Accounting Standards BoardSecurities and Exchange Commission
Internal Revenue Service
Certifications in Accounting
Certified Public Accountant
Certified Fraud Examiner
Certified Internal Auditor
Certified Management Accountant
Certified Bookkeeper• Two years experience• Pass exam• Sign a code of ethics
Computer and AccountingComputer has taken over
accounting
Easier to complete
time-consuming
and mundane pencil-pushing
tasks
Frees workers
to do more
important tasks
Excel
QuickBooks