The Importance Of Accounting Essay Research Paper

The Importance Of Accounting Essay, Research Paper

The Importance Of Accounting In Our Modern Society

Accounting is a very important term to our modern society. It is the career for men and women who at the start have their eyes set on top positions in industry, management, government, and general business. Accounting is a basic need of every businessmen, from the operator of a filling station to the government of the United States. It s so important to our society. None of the business organization can operate without is. They are there-somewhere-in every business. In small business, people use pen, ink and skill keep teh records. In large business, modern accounting machines are used to operate. Men and women are directing these machines in the accounting process. Wise businessmen enter business must have some accounting knowledge.

Accounting is a vital element of business. It records the way a business has grown and, after analyzing figures, suggests the way it should go in the future. Furtunes are gambled on the advice of accountants.

If your friend has ever operated a business and you saw him placing figures in ledgers, then you saw him doing bookkeeping. If you have worked at a service station or supermarket and have seen books with large sheets lined in green and red lying on the manager s table or desk, you saw books of accounting.

Accounting is one of the fastest growing fields in the United States It expands each time a new store, a factory, a filling station, or a school goes up, whether in a large city or a small town. In today s society, the demand for good accountants for exceeds the supply. As our country has expanded, business and industry have become more and more complex, so control here is very important. And control depends on a great deal of the bookkeepers and accountants who can analyze figues and advise management on what should be done. They are using more scientific ways changing money, figuring change, and collecting sales taxes. Moreover, department stores and other companies now have plants and offices widely scattered throughout the country. A new set of bookkeepers and accountants, is needed at each branch. I know there are many managements supervisory, and junior or senior executive positions are bing filled by people who started as accountants because accountants have the knowledge of methods and finance and comprehension of the fundamentals of business, and accounting is the foundation of sound business.

The two kinds of accountants, public accountants and private accountants serve different important functions in business organization. Business enterprises, government agencies, and nonprofit institutions, such as universities and churches more are more likely use public accountant. They offer their services to the general public on a fee basis in much the same way as do lawyers, doctors, and dentists. In addition, the larger firms have professional accountants on their staff who work for a salary, but are also considered public accountants. The two important areas, auditing and tax services are also the job for public accountants.

In a single business enterprise or nonprofit organization, the main job for private accounts in to handle the finanacial records. Manufacturing or other concerns are also need accountants, in that situation, they are often called industrial accountants. In addition, accountants are employeed by all branches of federal state, and local government, including government-owned corporations. Accountants in private and government work customarily specialize in the performance of a single type of accounting service, they may do any of the types of accounting service just described above. They also tend to become specialists in a narrow field of employment such as a particular branch of manufacturing, public utilities, or transportation.

Except public accountants and private accountants, there are some other general category of accountants who are taking important parts in business organizations. They are managerial accountants, controller, cost accountant, government accountant, internal accountant and teaching accountant. Each of the accountant serves different function in business organization.

A company needs well-organized management. Managerial accountant is a kind of person hired by a company and trained to be a manager one day. The managerial accountant, needs to learn all aspects of the company people, products, plants, and equipments. They should know how to handle management responsibility, and administrative skills.

A company needs somebody to record its financial operating datas, and measure performance, and it needs somebody to interpret results of operations, and to plan and make recommendations for actions. Controller is this kind person of the company and is responsible for the records of the company s operation. His or her job is not only deal with finances, but also deal with people, products, equipments and material. In addition, he or she also needs to concern about sales and profit of the company. Like the president or vicepresident, controller has opportunities to exercise imagination and judgement and to make rewarding contribution to the company.

A corporation may exist many different items in managactures, and those items go hundreds of various sized and priced componenets. The sales office will have to know