Friday, March 29, 2019

Research For My Career Plan Accounting Essay

Research For My C areer Plan Accounting probeIntroductionMy charge choice is public accountant. My choice is amplyly influenced by the passion I lose for drubs with gets. My second choice career is inseparable auditing .it is closely related to accountancy. both(prenominal) the careers entail working with the numbers. account is a career which involves communicating, summarizing, classifying, interpreting and presenting fiscal position about an effort to the management, auditors, owners or the shareholders. Strong accountancy foundation is important when it comes to running booming businesses. Every business needs a allow keeper, accountant or a chief finance officer. upcountry auditors buttocks attend legal philosophy in white collar crimes since they great deal comfortably do forensic explanation. They can work with lawyer as skipper witnesses in imposture cases. Government accountants keep an eye on tract of public funds by maintaining records. macrocosm accou ntants work for public accounting companies. Their major tasks are to do the essential accounting, levy and consultancy work. controls use financial verbalisements to show in m startary price the resources under direct control of the organization. consort to Drake, P et al (2011), accounting is a study of how organizations track their assets, capital, and liabilities over time. It involves computing cost and capital gains from the capital. An accountant participates in strategies for mergers and acquisitions. numerous accountants ends up being the chief finance officers(CFOs).this is because they have the best understanding of what drives the business and profits in an organization. According to careers in accounting website (2009) bureau of statistics projects 16% increase in melody positions by 2016.the future of accounting is bright.Internal auditors are also cognise as Auditors, fraud Investigators, Inspectors, and Investigators among other names. They frequently measu re the level of respectfulnessfulness of the go with with its policies and objectives. They advise the management on how to better execute their policies. They run to improve the reliability of financial reporting, preventing and investigating fraud and safeguard company assets.People planning to be accountants and auditors should have an aptitude for mathematics .they should have good communication skills since the career entails communicating results to clients, management, shareholders and governments among others. They should be excellent when it comes to working with people, business systems and computers. Accountants should have unquestionable level of integrity.Educational requirement and certifications close to job vacancies requires at least(prenominal) a bachelors degree in accounting or related field .if you pauperization to practice accounting and auditing in government, the requirement is 4 years of college in accounting or auditing with approximately carry out. Since 2007 42 says and Washington DC requires all the certified public accountants to have successfully finished 150 semester hours of college course work. Many colleges have harmonized their curriculum to be in line with the law.Some organizations require masters degree in accounting or business administration with accounts as your major. A aware public accountant (CPA) is a popular requirement for big corporations. CPAs run is divided into iv parts in all states .examination is prepared by AICPA(American institute of public accountants).majority of states require one pass all the four other parts within 1year six months.Other additional requirements may include certified internal auditor (CIA) exam and the certification in control ego assessment (CSA).CPA holders are licensed by state board of accountancy. The internal auditors are licensed by Certified Internal Auditor (CIA). Accountants who have passed in their exams and have met requirements needed by the state where th ey practice can become certified public accountants. However for alternate of licenses, one is required to have completed certain number of hours of go on professional .the umbrella professional bodies for accountants organizes seminars, courses and continuing education programs.Other certifications result a CPA and internal auditors with an advantage. These certifications are found in umpteen accredited colleges. They include the Certified Management Accountant (CMA),), the Certified Fraud Examiner (CFE), Certified Government Financial Manager (CGFM), accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) designations, Certified Information Systems Auditor (CISA), Accredited Tax Preparer (ATP), Accredited Tax Advisor (ATA), Accredited Business Accountant (ABA).These programs are marketable. They put the accountants and auditors at the lastest edge of landing a high paying job. Some of these programs depend on the field one want to specialize with. Most of these professional societies require appliers to have at least 2 years working experience, pass a for part examination, obligate to meet continuing education requirements and comply with professional conduct.Graduate schools campaign permit students from different colleges and universities with different grading system to be compared. Applicants to grade schools school finish GRE which tests verbal, quantitative and analytic abilities. GMAT test verbal, quantitative and analytical reasoning but it is designed to address the needs of business schools. Many institutions review accountants GMAT score for employment.GRE is accepted in many business programs in business schools. it is simple to prepare science it has easier grading curve and the applicant does not waste a lot of time in preparation.GRE is easier than GMAT. thither are institutions such as Manhattan review in New York which dish students to revise for their G MAT and GRE examinations. They have state of art facilities.Ethical Conduct on the nose like doctors and other professionals, CPAs and internal auditors should adhere the code of conduct. They should maintain high level of integrity. They should represent the interest of their clients. They should obey the bylaws set by their professional bodies.Working HoursAccording to BLS government website (2010), public accountants work 40 to 50 hours a week. According to Telberg, R (2007), accountants spend more time at work related activities at the expense of their families. Some carry their work with them to vacations and home. Many accountants have reported to CPA review website (2012), that during the busy moderate, they can work up to 70 to 80 billable hours. Internal auditors have pine working hours .their day typically founts from 8am to 5pm.they work up toJob DutiesCPAs maintain and audit organizations financial books. They also have knowledge bin book keeping, taxes, government au dit and financial planning. They oversee the budgets and financial management. They ensure that they financial records are accurate and up to date. They also keep track of investments, expenditures and tax generated by an organization.They research and analyze companys financial reports. They also create financial plan for the company. They also suggest way companies could save the bills. They file tax reports of a company. CPAs help organizations to develop a strategy to legally play down the amount of tax they owe the government.Many CPAs tend to be self employed therefore they hire staffs and manage businesses. Freelance CPAs can assist potential business owners develop business plans and get funds to start the same.Internal auditors appraise the organizations internal control system to see whether they are in harmony with state laws, the organizations objective. They liaise with both the external auditors and the accountant and Auditor General. They Recommend and advise the company on value for money and efficiency improvements.SalaryAccording to the BLS, http//www.bls.gov (2012), Salary depends on a number of factors namely the CPAs educational background, years of experience, and the company he is working for. CPAs devour home $50,770 per year. CPAs with one to two years of experience may be remunerated lower amounts. And those working for large corporations like coca grass are paid higher salaries. Partners in public accounting firms can earn around $175,000 a year. CPAs enjoys an array of benefits, which includes all expenses paid for vacations, health and life insurance, and pension benefits. Internal auditors take an average of $81000 per year. Manager internal auditors earn up to $100000 per year. The level of salary depends with the level of experience and the company one is working for.Job Satisfaction and Lifestyle of CPA and Internal AuditorCPA and internal auditing are among of the careers which demand a lot of time. Some the accountants and internal auditors carry their work with them to home. During peak season they work long hours and sleep at least 4hours.they enjoy dislodge vacations pension benefits. Their high income guarantees them a high living standard. Some accountants and auditors gain pay rise every year. Others enjoy up to 3 weeks vacations. It is one of the professions where there are no complains. The job opportunities are there. As a matter of fact it has been projected that the job opportunities for CPAs will rise by 22%.according to CNN money website (2012), it is number 9 in the 100 nearly lucrative jobs in business section in USA. They enjoy private satisfaction from their careers .accounting profession make one to enjoy prestige and respect from the society since it is perceived to be hard than other professions.ConclusionBoth careers are lucrative prefer my first career choice more. I am planning to do what it takes to realize my dream of pursuing accountancy.

No comments:

Post a Comment