Accounting
Accounting is the analysis and preparation of financial
records for a business company government or other organisations.
Accounting, also refered to as accountacy, enables decision-makers
to interpret financial information and use the results to
plan for the future. Business people often call accounting
the "language of business" because they use accounting data
in communicating about a firm's activities. Accountants analyse,
report and give advice on the financial dealings of organisations
and individuals, and advise on associated record-keeping
and compliance requirements.
Fields in Accounting:
Auditor who makes sure that financial statements are
accurate by checking that assets and liabilities mentioned in
reports really exist, analysing samples of work done and
interviewing staff about the way they go about their work.
In the government sector, auditors examine the records of
departments, statutory and local authorities, and
government-owned companies to see if they are efficient and
effective in providing services to the community.
In the private sector auditors work with a range of clients
from small businesses to large international firms, including
banks, insurance companies and retailers. They often spend
time at their client's premises to carry out their
investigations.
Budget Accountant consists of drawing up a buget
for the expected future activities of an organisation during
a certain period. Budget accountants base their work on the
businesses most recent financial reports and on projections
of future conditions and activities.
Bursar who is responsible for the accounting and
general business operation of schools or tertiary
institutions. This may include fund-raising.
Finance Manager who prepares reports for management,
summarising the business' financial position in areas of
income, expenses, capital usage and cash flows, and assists
with the preparation of strategic plans, budgets and financial
forecasts.
Finance managers also work out funds requirements and
strategies to invest surpluses. They also develop accounting
and management policies and procedures.
Investment Analyst who evaluates the worth of
companies for potential buyers and investors, and investigates
businesses being sold, bought or merged.
Liquidator and Receiver who assists and advises
businesses in financial difficulties and organises company
closures in line with legal requirements and, in the case of
bankruptcies, sells assets.
Management Accountant including
Cost Accountant who develops and directs systems so
that costs can be recorded and analysed to work out each unit
cost. This involves analysing changes that affect production
costs (e.g. raw materials, manufacturing methods, factory
overheads and wages).
They provide management with reports to assist in
decision-making about production volumes, sale prices and
additions or deletions to product lines and/or manufacturing
or distribution resources.
Systems Accountant who analyses financial
information needs for organisations by reviewing existing
systems and working out the best way to meet those needs with
the design of new systems.
Taxation Consultant/Taxation Agent who prepares
taxation returns and reports, provides advice on tax issues
and handles disputes with taxation authorities.
Treasurer who plans short- and long-term finance for
organisations and advises on the financial consequences of
internal and external decisions. They design and manage
investment portfolios to manage financial risk for
organisations by acquiring, looking after and investing funds.
Accountants may work on their own or with other
accountants. Accountants in private practice have a high level
of public contact. Some positions involve travel, which is
often interstate or overseas.
Required Skills - Accounting
- good communication skills
- good presentation skills
- able to build rapport with clients
- able to analyse and solve problems
- good organisational skills
- discretion when dealing with confidential information
- professional and ethical
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