Assignment 1: Careers in accounting
Nicholas D. Hendreson
August 22, 2015
Accounting is a discipline of business that borrows from many fields of study. Accounting is one of the well-paying field for the business students because of a number of career opportunities open to an accounting profession. Tax Accounting and Auditing are examples of careers under the accounting discipline.
Auditing is a specialized filed under accounting that entails the independent examination of an organization’s financial statements in ascertaining whether these statements are fair and true representation of the financial activities of that particular organization. Internal auditing will involve the verification and control over the systems of an organization and checking to reveal incidences of mismanagement, fraud or waste of finances in the organization. Furthermore, a review of the operations of the organization in terms of compliance to the statutory requirements as well as the policies of the organization.
Tax accounting is a specialized field of accounting that deals with compliance and planning. The compliance entails meeting the requirements of the government requirements such as the income tax and filing taxation returns. Planning on the other hand entails taxation arrangement practices for organizations and individuals in their efforts to meet tax requirements cost effectively. For example the planning aspect will entail efforts by the tax accountant to reduce the taxes that are paid by the organization so as to maintain the required profitability. This is because taxes result to the reduction in profit thus the importance of managing them closely and expertly.
Certified Internal Auditor
The position of a certified Public Accountant requires a number of qualifications that are presented as follows. This position requires that an individual has the needed academic qualification which could be a...