What is Accounting? Practice and body of knowledge concerned primarily with (1) methods for...

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What is Accounting? Practice and body of knowledge concerned primarily with (1) methods for recording transactions, (2) keeping financial records, (3) performing internal audits, (4) reporting and analyzing financial information to the management, and (5) advising on taxation matters. It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity. Accounting provides information on the (1) resources available to a firm, (2) the means employed to finance those resources, and (3) the results achieved through their use. Read more: http://www.businessdictionary.com/definition/accounting.ht ml#ixzz1rhCmaLGV American Accounting Association AAA Career Center

Transcript of What is Accounting? Practice and body of knowledge concerned primarily with (1) methods for...

Page 1: What is Accounting? Practice and body of knowledge concerned primarily with (1) methods for recording transactions, (2) keeping financial records, (3)

What is Accounting?

Practice and body of knowledge concerned primarily with (1) methods for recording transactions, (2) keeping financial records, (3) performing internal audits, (4) reporting and analyzing financial information to the management, and (5) advising on taxation matters. It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity. Accounting provides information on the (1) resources available to a firm, (2) the means employed to finance those resources, and (3) the results achieved through their use.

Read more: http://www.businessdictionary.com/definition/accounting.html#ixzz1rhCmaLGV

American Accounting Association

AAA Career Center

Page 2: What is Accounting? Practice and body of knowledge concerned primarily with (1) methods for recording transactions, (2) keeping financial records, (3)

Accounting Assistant Accounting Clerk

•General •General #2

•General •General #2

Accounting Manager Accounting Specialist

•Real Estate •General •General #2

•General •General #2 •General #3

Accounts Payable Clerk Accounts Payable Manager

•Real Estate •Manufacturing •Entertainment

•Financial Services •General •General #2

Accounting Jobs

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Accounts Payable Specialist Accounts Receivable Clerk

•General •Cosmetic

•General •Retail AR

Accounts Receivable Manager Accounts Receivable Specialist

•General •General #2

•Financial Services •General •A/R Accountant

Assistant Controller Billing Coordinator

•Financial Services #1 •Financial Services #2

•Legal •General

Bookkeeper Cash Manager

•Business Management •General •General #2 •Full Charge Bookkeeper

•Financial Services •General •General #2 •Banking

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Controller Cost Accountant

•Non-Profit •Insurance •Real Estate #1•Real Estate #2 •Liability

•Construction •Manufacturing •Retail •General

Director of Accounting Director of Purchasing

•General •General #2 •Healthcare •General #3•

•General •General #2 •Materials Mgt.

Fund Accountant General Ledger Accountant

•General •General #2

•GL Accountant •General

Page 5: What is Accounting? Practice and body of knowledge concerned primarily with (1) methods for recording transactions, (2) keeping financial records, (3)

Senior Accountant Staff Accountant

•General •General #2 •General #3 •Compliance

•General •General #2 •Business Management top Audit & Assurance

Audit Director Audit Manager

•General •General #2

•Entertainment •General •General #2

Auditor Audit Supervisor

•General •General #2

•General •General #2 top Billing

Billing Manager Billing Specialist

•Financial Services •General

•General •General #2

Page 8: What is Accounting? Practice and body of knowledge concerned primarily with (1) methods for recording transactions, (2) keeping financial records, (3)

Payroll Specialist Payroll Supervisor

•General •General #2

•General •General #2 top Tax

Tax Accountant Tax Analyst

•General •General #2

•General •General #2 •General #3

Tax Director Tax Manager

•General •General #2

•General •General #2 •Senior Tax Manager

Tax Specialist

•General •General #2 top Treasury

Page 10: What is Accounting? Practice and body of knowledge concerned primarily with (1) methods for recording transactions, (2) keeping financial records, (3)

The average salary for accounting majors is up 3.7 percent to $50,500. For these graduates, the top industry—in terms of number of hires—is accounting, tax preparation, bookkeeping and payroll services, with an average salary of $47,050. Highest-paying employers of accounting majors, however, were securities, commodities, and financial investments employers; the average salary in this industry stands at $53,910.

http://www.naceweb.org/uploadedFiles/NACEWeb/Research/Salary_Survey/Reports/SS_January_exsummary_4web.pdf

http://www.jobsearchintelligence.com/NACE/jobseekers/salary-calculator.php#

Economics is the study of how people choose to use resources.

What is Economics?

From: http://www.aeaweb.org/students/

AEA Undergraduate Student Web Site

American Economics Association

Page 11: What is Accounting? Practice and body of knowledge concerned primarily with (1) methods for recording transactions, (2) keeping financial records, (3)

Economics majors currently average $54,400—up 6.3 percent over the average posted in 2010. The most likely explanation for this: Securities, commodities, funds, trusts, and other financial investment firms are both the largest employer for these graduates and provided the highest average starting salary—$77,640.

http://www.naceweb.org/uploadedFiles/NACEWeb/Research/Salary_Survey/Reports/SS_January_exsummary_4web.pdf

http://www.jobsearchintelligence.com/NACE/jobseekers/salary-calculator.php#

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Careers for Economics Majors

Students find that the major provides an excellent stepping stone for jobs in the private sector, including careers in:

Trade researcher Business management Department of Commerce Federal Reserve Board Department of Labor Treasury Department Department of Agriculture

Investment banker Financial analyst Insurance broker Consultant Economic analyst Statistician Trade specialist Professor