Are you thinking about going to school for accounting but are confused by all the jargon? This is a quick way to learn about the different types of accounting jobs and the training you'll need to do well in them.
People who track, evaluate, and put together data about productivity, finances, and resources are necessary for business to work. Accounting, also called "accounting," is the process of collecting and analysing data to decide how to use money. Most of the time, accounting is about the money of a business. Auditing is a related field in which records are looked over and a conclusion is made. This leads to a recommendation for action and is meant to make sure that things work well, improve performance, and follow rules and standards. Here's a simple example of a relationship at work: An accountant would put in payroll and company costs and keep track of them. An auditor would look at the accountant's records to see if money and time are being spent wisely.
When most people think of auditors, they think of a man in a suit and a stern face from the IRS who comes to check that you paid your taxes. This kind of auditor does exist, but if you keep good records, you don't have to worry about them. Most auditors are hired by companies to check the accuracy of the books they keep. Their analyses help management figure out what works and what doesn't.
Time-to-money ratios are something that accountants deal with a lot. For professionals to keep track of all these numbers, they must be good at using computers, especially spreadsheet programmes (such as Microsoft Excel).
Most accountants only work in one area. Bookkeeping, tax accounting, cost accounting, accounts payable, accounts receivable, keeping track of time, and doing payroll are all examples of jobs.
Accounts receivable means that money is coming in.
- "Accounts payable" means debits and payments that are going out.
Bookkeeping is the process of keeping track of transactions and calculations.
- In its simplest form, tax accounting is the job of putting together tax returns.
Cost accounting is a type of accounting that looks at, tracks, and records the costs of running a business. The cost can be measured in both money and time.
- Time keeping and payroll clerks do exactly what their job title says: they keep track of the time sheets and paychecks of workers.
Training for careers in accounting can be different. For many accounting jobs, you don't need a bachelor's degree, but you do need some education or experience. In accounting training programmes, students often take computer classes to learn how to use the software they will use on the job. People who work in accounting need to know how to use spreadsheets, Quickbooks, Microsoft Excel, and other financial and accounting software, as well as word processing software like Microsoft Word. It's important to pay close attention to details and be good with numbers and order. Since a lot of the information being processed is private, the person must also be very trustworthy and keep things quiet. In the workplace, it's also important to have office experience and good communication skills. Certified Public Accountants (CPAs) have to pass a four-part, two-day exam given by the American Institute of Certified Public Accountants (AICPA). They also have to get at least 150 college credit hours, which is 30 more than is usually needed to get a bachelor's degree. People think the test is pretty hard, and many don't pass all four sections at once. Most of the time, a candidate gets partial credit if they pass at least two sections.
As with any job, it helps to be interested in what you do. If you don't like math, you probably shouldn't go into accounting, just like if you don't like English, you probably shouldn't go into copywriting.
Remember that it never hurts to learn more about programmes and ask questions. Representatives of schools are always happy to answer questions from people who want to learn more about what they have to offer. There are many different kinds of accounting jobs, so why not change your future by learning about accounting?
