A List Of 5 Reasons Why Accounting Is A Hot Industry (3)

AccountingThose hot industries are continuing to remain stable and even increase, in spite of financial and economic challenges. An organization’s accounting systems are effected by the size of the organization (a small organization like a departmental store would have a simple accounting system whilst an industrial unit would have a much more complex accounting system), type of the organization (a not-for-profit organization would be more concerned with monitoring expenditure against targeted performance whereas a profit-making manufacturing concern would need to account for sales, units, revenue etc.

A financial controller (who is responsible for the routine accounting duties & providing accounting reports for other departments), a Management Accountant (who is responsible for the company’s cost accounting, budgets & budgetary control & financial management of its projects) & a Treasurer (who is responsible for raising funds for the company through borrowing, investing surplus funds in the money markets & arranging for the company’s long term finance).

I will skip numerous cases of utter mess created while my postdoctoral NIH fellowship was being administered, but I will give two examples: When I switched from being paid from my PI’s grant to getting paid through my NIH fellowship, the department was no longer paying for my health insurance (instead it was all coming out of my fellowship) yet I noticed that accounting had made an extra premium payment from departmental funds.

The primary purpose of § 162(a)(1), which is to prevent dividends (or in some cases gifts), which are not deductible from corporate income, from being disguised as salary, which is. The IRS limits the amount of salary that a corporation can deduct from its income primarily in order to prevent the corporation from eluding the corporate income tax by paying dividends but calling them salary because salary is deductible and dividends are not.

Government Agencies – would include government instrumentalities like bureaus, Congress, Judiciary, constitutional bodies and self contained institutions, among others, which are required to have an accounting division, which are of equal level with that of other agencies that are tasked to do maintenance of accounts and submit financial statements on a regular basis.Accounting