Accountant's Day or Accounting Day 2024 is on Sunday, May 19, 2024: How is an accountant's job related to the law?

Sunday, May 19, 2024 is Accountant's Day or Accounting Day 2024. Happy International Accounting Day! Today is the day, above all

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What kind of accountant are you? - Corporate Accountant. (also General Ledger Accountant)

Are there different types of accountants? Public Accountant, Corporate Accountant, Financial Examiner (as in working for the FDIC), Analyst, etc.

What do you have to do on a typical day? Reconcile general ledger accounts, including the bank reconciliation. Prepare Financial Statements. Prepare journal entries. Provide analysis for boss.

How is your job related to the law? Not sure what you are asking. Corporations follow various accounting regulations, and corporation has certain financial obligations, some of which are monitored and recorded by accountants.

What are the educational requirements to become an accountant?

Depends on what type. No formal requirement to be an accountant. Most employers want to see a degree in accounting. To become a Certified Public Accountant (CPA) each state has their own requirements.

Why did you become an accountant? Got college degree, too lazy and dumb to get a job on my own so dad got one for me.

How long have you been one? 28 years.

What do you enjoy about being an accountant? Preparing end of month and end of year financial statements. (gives feeling of accomplishment)

What's challenging about it? Dealing with various and changing regulations, and difficult uncooperative coworkers.

What advice would you give to someone who wanted to become an accountant? Understand that understanding the numbers is the easy part. To be very successful, you must be good with people and understand some complex rules/regulations.

what is accounting, please tell me a detail note?

Accountancy (profession) or accounting (methodology) is the measurement, disclosure or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies. The terms derive from the use of financial accounts. Accounting is also widely referred to as the "language of business".

Financial accounting is one branch of accounting and historically has involved processes by which financial information about a business is recorded, classified, summarized, interpreted, and communicated; for public companies, this information is generally publicly-accessible. By contrast management accounting information is used within an organization and is usually confidential and accessible only to a small group, mostly decision-makers.

Auditing, a related but separate discipline, has two sub-disciplines: Internal and External auditing. External auditing is the process whereby an independent auditor examines an organization's financial statements and accounting records in order to express an opinion — that conveys reasonable but not absolute assurance — as to the truth and fairness of the statements and the accountant's adherence to Generally Accepted Accounting Principles (GAAP), or International Financial Reporting Standards (IFRS), in all material respects.

Internal auditing is an examination in which management, and not the external public, is the main beneficiary. It is carried out usually by auditors employed by the company, but sometimes by external service providers. The internal auditor's role is broader, and basically depends on what kind of assurance management wants. It usually certifies the efficiency and effectiveness of processes, departments, projects or internal controls. The Institute of Internal Auditors is generally accepted as the custodian of Internal Auditing best practice.

At the heart of accounting is the measurement of financial transactions which are transfers of legal property rights made under contractual relationships. Non-financial transactions are specifically excluded due to conservatism and materiality principles.

Practitioners of accountancy are known as accountants. There are many professional bodies for accountants throughout the world. Many allow their members to use titles indicating their membership or qualification level. Examples are Chartered Certified Accountant (ACCA or FCCA), Chartered Accountant (FCA, CA or ACA), Management Accountant (ACMA, FCMA or AICWA) and Certified Public Accountant (CPA).

Accountancy attempts to create accurate financial reports that are useful to managers, regulators, and other stakeholders such as shareholders, creditors, or owners. The day-to-day record-keeping involved in this process is known as bookkeeping.

At the heart of modern financial accounting is the double-entry bookkeeping system. This system involves making at least two entries for every transaction: a debit in one account, and a corresponding credit in another account. The sum of all debits should always equal the sum of all credits, providing a simple way to check for errors. This system was first used in medieval Europe, although claims have been made that the system dates back to Ancient Rome or Greece.

According to critics of standard accounting practices, it has changed little since. Accounting reform measures of some kind have been taken in each generation to attempt to keep bookkeeping relevant to capital assets or production capacity. However, these have not changed the basic principles, which are supposed to be independent of economics as such. In recent times, the divergence of accounting from economic principles has resulted in controversial reforms to make financial reports more indicative of economic reality.

what is the accounting profession?

Accountancy (profession) or accounting (methodology) is the measurement, statement or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies. The terms derive from the use of financial accounts.

Accounting (Definition) is a service activity. Its function is to provide quantitative information primarily financial in nature, about economic entities, that is intended to be useful in making economic decisions, and in making reasoned choices among alternative courses of action. [2]

It is also the discipline of measuring, communicating and interpreting financial activity. Accounting is also widely referred to as the "language of business".[3]

Financial accounting is one branch of accounting and historically has involved processes by which financial information about a business is recorded, classified, summarised, interpreted, and communicated; for public companies, this information is generally publicly-accessible. By contrast management accounting information is used within an organisation and is usually confidential and accessible only to a small group, mostly decision-makers. Tax Accounting is the accounting needed to comply with jurisdictional tax regulations.

Practitioners of accountancy are known as accountants. There are many professional bodies for accountants throughout the world. Many allow their members to use titles indicating their membership or qualification level. Examples are Chartered Certified Accountant (ACCA or FCCA), Chartered Accountant (FCA, CA or ACA), Management Accountant (ACMA, FCMA or AICWA), Certified Public Accountant (CPA) and Certified General Accountant (CGA or FCGA).

Auditing is a related but separate discipline, with two sub-disciplines: internal auditing and external auditing. External auditing is the process whereby an independent auditor examines an organisation's financial statements and accounting records in order to express an opinion as to the truth and fairness of the statements and the accountant's adherence to Generally Accepted Accounting Principles (GAAP), or International Financial Reporting Standards (IFRS), in all material respects. Internal auditing aims at providing information for management usage, and is typically carried out by auditors employed by the company, and sometimes by external service providers.

Accounting/accountancy attempts to create accurate financial reports that are useful to managers, regulators, and other stakeholders such as shareholders, creditors, or owners. The day-to-day record-keeping involved in this process is known as bookkeeping.

Accounting scholarship is the academic discipline which studies accounting/accountancy.

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