Tax help > Quick Guide to Accounting Training

Quick Guide to Accounting Training

by: Kate Leas

Are you considering an accounting education but confused by all the jargon? This is a quick guide to understanding the different specialties associated with accounting careers and the training you will need to be successful.

Business cannot function without people who monitor, evaluate, and synthesize productivity, financial, and resource data. Accounting, or accountancy, is the practice of collecting and measuring data in order to allocate resources. Most often accounting is specific to a business?s finances. Auditing is a related field whereby records are reviewed and a conclusion reached; resulting in a recommendation for action; geared to ensure efficiency and to improve performance and ensure adherence to standards and principles. A simple example of the workplace relationship follows: An accountant would enter and keep track of payroll and company expenses. An auditor would review the records kept by the accountant to determine if money and time are being well spent.

When people think of auditors, the first thought is probably one of an IRS man in a suit with a stern expression coming to make sure you paid your taxes. While this type of auditor exists (not to be feared if you have been a good record keeper) auditors are usually individuals who are hired to evaluate the accuracy of accounts kept by a company. Their analyses help management determine effectiveness and efficiency.

Accounting professionals often deal with time to money ratios. In order to keep track of all these numbers, professionals must be well able to use computers; specifically spreadsheet applications (such as Microsoft Excel).

Accountants often specialize in one field. Jobs include bookkeeping, tax accounting, cost accounting, accounts payable, accounts receivable, time keeping and payroll.

? Accounts receivable refers to incoming payments.

? Accounts payable refers to debits and outgoing payments.

? Bookkeeping refers to recording transactions and calculations.

? Tax accounting in its simplest form refers to the specialty of preparing tax returns.

? Cost accounting refers to the specialty of accounting that deals with analyzing, tracking, and recording business costs. Cost may be measured not only in money, but in time.

? Time keeping and payroll clerks do just what it sounds like; they keep track of workers? time sheets and payroll.

Training for accounting careers varies. For many jobs a bachelor?s degree in accounting is not necessary, though some education or experience is generally required. Accounting training programs often involve computer classes to familiarize students with the applications used in the workplace. Those in the accounting field must be comfortable using spreadsheets and other financial and accounting software (QuickBooks, Microsoft Excel) as well as word processing software such as Microsoft Word. Close attention to detail is essential, as is an aptitude for numbers and order. A high level of trustworthiness and discretion is also essential as much of the information processed is confidential. Office experience and communication skills are also essential in the workplace. Certified Public Accountants (CPAs) must undergo a four-part, two-day exam administered by the American Institute of Certified Public Accountants (AICPA) and are required to complete a minimum of 150 college credit hours (this is 30 hours more than the usual needed to graduate with a bachelor?s degree.) The exam is considered to be quite difficult, and many do not pass all four sections at one time. Partial credit is usually awarded as long as the candidate passes at least two sections.

As with any career, an interest in the subject matter is helpful. Someone who hates math should probably not consider an accounting career just as someone who hates English should steer clear of copywriting.

Remember, it never hurts to do a little research and ask questions about programs. School representatives are always happy to help prospective students find out more about their offerings. Accounting careers are diverse and abundant; why not change your future with an accounting education?

About The Author

Kate Leas is a freelance writer from Kansas City, Missouri. Her current topics include education and the Internet. For more information or help finding an accounting program please visit: http://www.collegesearchengine.net/search.php?searchzip=&program=7

Avoiding Credit Repair Scams

Avoiding Credit Repair Scams

by: John Mussi

Credit repair can take time? especially if you have poor credit and don't really have the time that you need to repair it. Unfortunately, many criminals and con artists know that credit repair is much needed and often time consuming and see this as an opportunity to make dishonest money by offering people what they want but that the con artist isn't able to offer. Even more unfortunate is the fact that large amounts of money are scammed in this manner each year, almost always from the people who are most severely in debt and can afford it the least.

If you worry that you might fall victim to one of these credit repair scams, then the information below might help to give you a better idea of what to look out for so that you don't end up losing money that you can't afford to lose.

The Appeal of Something for Nothing

The reason that credit repair scams are so numerous is that people love...

Avoiding Credit Repair Scams

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Taxes and Bankruptcy: The Nuts and Bolts

Taxes and Bankruptcy: The Nuts and Bolts

by: Richard K. Gustafson, II

The filing and subsequent discharge of either a Chapter 7 or a Chapter 13 bankruptcy may eliminate some types of personal income tax liability. There are, however, certain restrictions which must be met in order to completely eliminate personal income tax liability through bankruptcy.

Some personal income taxes may be eliminated through the filing and subsequent discharge of a Chapter 7 bankruptcy. The following requirements must be met for the personal income tax liability to be eliminated in a Chapter 7 bankruptcy:

? The tax return must have been filed on time

? The filing should not be fraudulent

? The tax return must have been filed over three years ago as of the bankruptcy filing date (e.g. IRS debts for the last three years generally, would not be dischargeable)

? Alternatively, in some cases, if the tax return was filed late, was not fraudulent...

Taxes and Bankruptcy: The Nuts and Bolts

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Becoming One Financially

Becoming One Financially

by: Nathan Dawson

When we think of marriage, most of us like to be romantic about it. Marriage brings images of engagement rings and a big white triple-layer cake. Nobody wants to talk about money management, prenuptials and other financial matters.

However, statistics show that the top reason for divorce is disagreeing about money. Don?t get carried away by the sheer romance of getting married. Discuss your financial concerns before you walk down the aisle.

Prenuptial agreements

These legally-binding contracts will save you quite a heartache in the event of a divorce.

But who is ever considering divorce at the time of marriage? It may seem unromantic, and certainly, most of the time it may be unnecessary. However, if you stand to inherit a very large sum of money, if you have a trust fund, or if you own a business, a prenuptial can help you keep what is rightfully yours.

Set a reasonable wedding...

Becoming One Financially

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The Legalities And Issues With An IRS Levy

The Legalities And Issues With An IRS Levy

by: Henry Byers

An IRS levy is an order from the Internal Revenue Security directing TVA to withhold a specified amount of an employee?s pay to satisfy a tax debt. If the IRS determines that we owe back tax then it may issue an IRS levy requiring the deductions from the pay till the back taxes are paid. They may ask the person to sign an agreement of consent authorizing the amount to be deducted. The IRS levy can allow an amount to be exempt from withholding based on the o employee?s tax filing station and the number of exemptions claimed.

A legal step taken by Internal Revenue System to seize anyone?s property in order to satisfy his debt is IRS levy. They are different from liens. Lien is just a claim used as security for tax debt whereas in IRS levy they actually take the property to do so. If one cannot make arrangements to settle the debts then the IRS seizes or sells any type of personal or real...

The Legalities And Issues With An IRS Levy

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The 10 worst mistakes you can make when selling your privately owned small business

The 10 worst mistakes you can make when selling your privately owned small business

by: Barry Evans

Thinking about selling your business? You are not alone. CNN Money reports that 35 million baby boomers are expected to retire between 2000 and 2020. If you are approaching retirement or soon will be, chances are you?ve considered putting your business on the market for one of the following reasons:

You feel burned out;
Industry conditions have changed;
You are facing health issues;
Your business has matured and plateaued;
Your business is doing well;
It?s a good market for the sale of a business.

In the end, no matter what your scenario or reason for selling, your objective is to get the most money for your blood, sweat, and tears. Here are ten mistakes not to make when selling your privately owned small business:

1. Not Knowing Your Business?s True Market Value:

Different...

The 10 worst mistakes you can make when selling your privately owned small business

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Government Grants - What are they and how to get them ?

by: Mike Freemen

None of these Government Grants require a credit check, collateral, security deposits or co-signers, you can apply even if you have a bankruptcy or bad credit, it doesn't matter. Its Free Money Never Repay!

The Federal Government is Giving out over 155.5 billion dollars in Business Grants!

Receive Government Small Business Grants for virtually any type of business. Whether it is to start a business or expand your existing business there is money for waiting just for you. The Federal government provides this money to help existing small business owners and those who want to start their own business change their lives and achieve financial independence.

The United States Government wants your Small Business to succeed and you will be amazed at the lengths they will go to help ensure your success. At Grant Seeker Pro? we have designed a State of the art software...

Government Grants - What are they and how to get them ?

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Getting Discounts From Your Auto Insurance Company

by: Stu Pearson

Let?s face it an auto insurance company is a business that is created to make a profit and if we are not careful we might end up paying super high premium rates when we could have paid much lower premiums if we only did some research.

Here is a list that I hope will help car owners in lowering their premium rates:

? Safety devices against car thieves

Who would ever think that...

Getting Discounts From Your Auto Insurance Company

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Tax help Quick Guide to Accounting Training perfume

Maternity Clothes Trends

by: Kathryn Whittaker

For most women, the most stylish maternity clothes solution is to wear stretch classic jeans and a man?s white oxford shirt. However, the day comes when they face the inevitable: the visit to a maternity clothes store, either for a special occasion outfit, or to browse the plus size maternity clothes section in search for the most flattering solution to their style dilemmas. So what exactly should an expecting mom...

Maternity Clothes Trends Tax help Quick Guide to Accounting Training

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4 Color Printing: A Must-Have for Businesses

by: Mart Gil Abareta

The printing industry continues to evolve in the midst of technological advancements and global competition. And undoubtedly, above all the printing processes, it is 4 color printing that has been widely used by almost every business. Originally created for printing color photography, it didn?t take long to incorporate it into the printed graphics seen today. For those who still don?t know, this...

4 Color Printing: A Must-Have for Businesses

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Cancer and Diet

by: Marilyn Bennett

The issue of cancer and diet is paramount to your health. Without feeding the body the ingredients it needs, it simply cannot produce the processes that combat the cancer.

Firstly, when looking at nutrition for cancer, we need to understand the role of pancreatic enzymes. These enzymes, including trypsin & chymotrypsin, play a major role in halting the formation of tumours. Unfortunately these enzymes also play a part...

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