Accounting Essay

Accounting Essay

An accounting essay should begin by informing the reader of the purpose of accounting which is to keep a tab on how a business earns and spends it’s a) Income and b) Assets over a period of time. To fulfill this function accountants participate in a number of diverse activities such as

1. Preparing financial statements
2. Keeping a record of business transactions like the purchase of new assets or mergers and acquisitions
3. Keeping a track record of profits that are the direct result of new technologies
4. Computing costs Technologies
5. Management of health care benefits
6. Quality management
7. The development and use of information systems that can keep a track on the companies financial performance
8. Tax strategy.

A career in accounting

Another aspect that an accounting essay can touch on is the main benefit of an accounting career- that teaches an individual how to run a business. As an accountant an individual works in a challenging and stimulating work environment that is far from monotonous. Being an accountant is also the best way to learn the ropes of a business and so it is hardly surprising that a significant number of successful businessmen began their careers as accountants. Accountancy can also be a preparatory ground for:

• Chief Financial Officers of large corporations
• Tax accountants
• Government accountants

A government accountant can be allocated work at the local, state or federal level. He/she is required to

• Analyze programs
• Administer and formulate budgets
• Track costs

Individuals who have experience in accounting as well as a legal background in tax under their belt are increasingly in demand amongst large business houses.This fact can be  highlighted by  an accounting essay.

 The main functions of tax accountants is to

• Formulate tax strategies that involve issues like the making of a financial choice
• The preparation of personal as well as corporate income tax statements
• The best practices for mergers and acquisitions
• Deferral of taxes
• Timelines for expense items

Tax accountants need to have a thorough understanding of economics and the tax code. An accounting essay can highlight the fact that accounting offers some really lucrative career openings such as the ones above.

Qualifications

At the bachelor’s level a successful clearing of tests will lead to a person becoming a-

1. Certified Public Accountant (CPA)
2. Or a Chartered Management Accountant (CMA). This field is divided into three broad areas
1. Auditing
2. Financial/tax
3. Management accounting.

These are some of the important points that can be covered by an accounting essay.