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Accounting is a very popular and important job in our business society They do a lot more then just prepare financial statements and recording business transactions Accounting falls in two main categorys public and private My mother is a very hard working accountant and is the Vice President of finance for her company Accounting is the study of how businesses track their income and assets over time Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions These include computing costs gaining efficiency from new technologies participating in strategies for mergers and acquisitions quality management developing and using information systems to track financial performance tax strategy and health care benefits management Career opportunities in accounting fall most broadly into two categories public and private Public accounting firms range from one-person operations to large multinational organizations that employ thousands of professionals They provide a variety of services to their clients who are usually individuals or other businesses Most often career paths in public accounting are either in audit or tax The task of audit professionals-as the word implies-is to carefully and rigorously audit and document all the financial records and business transactions of their clients The auditing process results in the accountants stamp of approval on the clients business activities Private accounting refers to the internal accounting function of companies Private or corporate accountants perform the same types of tasks of public accountants yet these tasks are specific to the companies for which they work Private accounting can be distinguished from public accounting in one important way Whereas public accounting is more involved in the collecting and external reporting of financial information private accounting is more involved in the internal use of financial information to help managers within the company make more effective business decisions When my Mom first entered college she had no idea that she was going to turn out to be an
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