Changing Role Of The Accountant In this modern IT era, computers are forcing Accountants to change the nature of their work. This is because: Computerized accounting packages reduce the amount of tedious manual work associated with data management and recordkeeping and Computers enable accountants and auditors to be more mobile and to use their clients’ … Read more
What Are The Related Occupation ? Besides being an Accountants or auditors, others related accounting jobs include: budget analysts; cost estimators; loan officers; financial analysts; personal financial advisors; tax examiners, collectors, revenue agents; bill and account collectors; bookkeeping, accounting, and auditing clerks. Growing trend where they assumed the role of management analysts and are involved in … Read more
Working Conditions/Hours: Most accountants and auditors work in a typical office setting; Self-employed accountants may be able to do part of their work at home; Accountants and auditors employed by public accounting firms and government agencies may travel frequently to perform audits at branches of their firm, clients’ places of business, or government facilities; Most … Read more
What do you think are the attributes, skills and talents required of an aspiring good Accountant whether he/she opts to be in the different major fields mentioned in my article in Part 1? Check this out from the following table: Skills/Talents/Attributes Results Analytical skills High Computer skills High Innovative High Communication skills High Ability to … Read more
Generally, we can say that there are fourA major fields of accounting which are as follows: Public accounting Management accounting Government Accounting and Internal Auditing. Public Accountants: Perform a broad range of accounting, auditing, tax, and consulting activities for their clients, which may be corporations, governments, nonprofit organizations, or individuals. Examples of the … Read more
Various Type Of Organization Structure A business may be carried on in any one of the following form: 1. Sole proprietorship (Part 1 of 3) 2. Partnership (Part 2 of 3) 3. Limited Company CHARACTERISTIC OF A LIMITED COMPANY A limited company is incorporated and governed under the Companies Act. It can be categorized as … Read more
Various Type Of Organization Structure A business may be carried on in any one of the following form: 1. Sole proprietorship (Part 1 of 3) 2. Partnership 3. Limited Company CHARACTERISTIC OF A PARTNERSHIP: 1. A partnership is not a legal entity such that the partnership has to sue or be sued in the names … Read more
Short- term finance is generally borrowings that repayable within ONE year; Medium- term finance are those repayable within 2 to 5 years and Long-term finance repayable after more than 5 years This 3rd part article seeks to look at Long term sources of fund which include the following: Share capital (covered in Part 2 of … Read more
Short- term finance is generally borrowings that repayable within ONE year; Medium- term finance are those repayable within 2 to 5 years and Long-term finance repayable after more than 5 years This 2 nd part article seeks to look at Long term sources of fund which include the following: Share capital and Fixed Income Securities … Read more
Sometimes, when a company has spare production capacity, it is willing to fulfill SPECIAL ORDERS for non-regular customers. Normally, the prices quoted are lower than those regular customers. So When do a Company Accept or Reject a Special Order? Generally, the rule is to accept the order as long as the incremental revenue is MORE … Read more