The purpose of accounting is to provide the information that is needed for sound economic decision making. In accounting the expenses that provide benefit immediately are called Revenue Expenses” and those expenses whose benefit last for a longer period are called Capital Expenses”. Dear client, retained earnings is the accumulation of all your income ever since you started your operations less your dividends.” LOL okay , now I’m starting to sound like an accounting teacher Scrap that. And since I was placed in the accounting program, that is the course I enrolled in and stayed in until I graduated from college. I can just hear my father (God bless his soul) telling me – take up accounting because you will get a lot of work after college.
There’s the public practice (auditors, accountants and bookkeepers) and there’s the private sector accounting. But learning about your clients’ businesses and applying what you learned in accounting for their transactions, now that’s something else. I would definitely recommend a career in accounting to anyone who loves the world of business but is not fond of taking risks!
Thanks for the hub Emi – I am a financial manager and find the accounting field the most interesting because its the one facet of business that brings it all together. Early in my career a boss suggested I take some accounting courses – it was the best training I could ever imagine – it has served me my whole life especially trying to explain to boards of directors accounts payable and accounts receivable which most people can’t seem to get. I do believe that a very basic accounting course should be provided to everyone in high school because this is one course they will use all of their lives for different purposes!
I never really wanted this accounting thing and so I was oh so surprised to find pleasure in naming my self an accountant. Accounting is always changing, and it is an amazing way to learn how to, or not to run any type of business. I actually hate math and was thanking god for the COMPUTERIZED accounting courses in school. I hated the financial analysis part of it. I really don’t know why I became an accountant. No one I know is one, I don’t like math, but I do like to type and I lucked up on a very heavily computerized accounting position, and I like to dress business professional on a job, so that was a plus.
Hi, I have just started a summer term of Financial Accounting course online at the local college. You know… This was actually an interesting post for me due to the fact that I recently acquired a position in the financial department of the company I work for. I got into accounting years ago, before I went for my undergrad because a position opend after management walked out. I want to become an accountant but i am not to good in mathematics i’m studying accounting in higher institution. In the beginning, you will be doing data entry, then you will be preparing financial statements and the notes to the financial statements.