Why Accounting?



Why Accounting?

 

Accounting is the basic language of business. Whether you are a star athlete, a restaurateur, or CEO of a Fortune 500 company, having a basic understanding of accounting and finance will equip you with the necessary tools to make sound business decisions. Accountants not only "keep the books" or do taxes, but they also serve as auditors, consultants, and valued business advisors.

Accounting and finance professionals are found in every industry from public accounting firms to nonprofit organizations to K-12 schools. Regardless of the industry you are interested in, accountants are ALWAYS needed.

Detailed below is an explanation of the various types of Accountants and Finance professionals. However, as the needs of the local and global business market changes rapidly, so does the accounting needs of organizations.

  • Tax Accountants assess tax and financial planning opportunities, prepare tax returns and research tax issues.
  • Cost Accountants measure and allocate production and overhead costs.
  • Auditors attest to the fairness and reasonableness of financial statements after the analysis and inspection of supporting documentation.
  • Financial Analysts prepare budgets and forecasts to plan for the future and review operating results.
  • Management Accountants analyze costs, budgetary, forecasting, tax, and systems and procedures accounting functions. Supervisory duties and special reporting may be required.
  • Educators teach the theory and the practical aspects of accounting.
  • Internal Revenue Agents audit tax returns for compliance with tax laws that were in effect at the time the return was prepared.
  • Forensic Accountants investigate a party's finances to determine whether the reported income or assets is truthful and accurate.
  • Certified Public Accountants (CPA's) perform any and/or all of the above. In addition to passing the CPA examination, certain educational and experience requirements must be met.


Tools and Information for Students

Information on Accounting and the CPA Exam

Link to sites:
The CPA Career Paths: https://www.aicpa.org/Career/CareerPaths/Pages/CareerPaths.aspx 
The CPA Exam Format: http://www.becker.com/cpa-review/resources/about-exam/cpa-exam-structure
The Black Collegian: http://www.blackcollegian.com