Accounting Types Essay, Research Paper
Intro Thesis- An accountant has
many choices as to what particular field of accounting to
specialize in depending on the financial information the
accountant wants to analyze and how the information is put
to use. Meth – Financial accountant, tax accountants and
internal auditors are all accountants in general but require
different training and work methods. I. Financial
Accountants A. For managers, stockholders B. Record
and report data using GAAP C. Private IV. Tax
Accountants E. For individuals F. Prepare returns G.
Public (CPA) VIII. Internal Auditors I. For own firm J.
Review accounting and operating procedures K. Private
(CIA) Conc. Summary, Author’s Comment The
Accounting Equation Thesis: An accountant has many
choices to what particular field of accounting to specialize
in depending on the financial information she wants to
analyze and how it is done. Class: Accountants Special
Interest: Analyzing Financial Information Subclasses:
Financial accountants Tax accountants Internal auditors A
college student decides she wants to become an
accountant. General accounting and bookkeeping classes
can be taken in high school. In college, the student needs to
decide on a more specific field of accounting. An
accountant has many choices as to what particular field of
accounting to specialize in depending on the financial
information she wants to analyze and how it is done.
Financial accountants, tax accountants and internal auditors
are all accountants in general, but require different training
and work methods. A financial accountant records
economic data and periodically prepares reports that show
profit and other financial information of a company using
the generally accepted accounting principles. The reports
prepared by the accountant are useful for managers, and
also for owners, creditors and the public. Based on
information in the reports the public can use the reports to
choose a company to invest in. Because a financial
accountant is employed by an individual company, she is
considered a private accountant. Another type of
accountant is a tax accountant. A tax accountant prepares
yearly tax returns for individual clients. The accountants
have to use constant data such as rates of pay and other
information to determine the proper amount of taxes to be
paid. These accountants have to take a class once a year to
catch up on yearly changes in tax laws and regulations. If a
tax accountant has met state experience requirements, she
may want to take exams to become a Certified Public
Accountant (CPA). A third type of accountant is an internal
auditor. Auditors are sponsored by the Institute of Internal
Auditors and work within an individual firm. The auditor
reviews accounting and operating procedures used by a
firm to make sure everything is being run properly. If things
aren’t being run properly, it is the auditor’s job to find the
problem and to try to rectify it. An auditor is considered a
private accountant because he is employed by a firm, yet if
he specializes in auditing, he may want to get a Certified
Internal Auditor (CIA) certificate. So, an accountant has
career choices to make based on more specialized interests
in a field, and as with other careers, a different
specialization will have different educational requirements.
Different classes will need to be taken in order to gain
enough knowledge in the general field and several classes
on a similar topic when the accountant decides what to
specialize in. Accounting may not seem like a popular
profession, or a very interesting one, but once one looks
deep into the separate activities and training of each
specialization, on can see that accounting may appeal to
many different types of people for many different reasons.