short essay about accounting career

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My Ambition To Be An Accountant

My dream job: accountant

• American Institute of Certified Public Accountants. (2021). What is a CPA? Retrieved from https://www.aicpa.org/content/dam/aicpa/researchandstandards/misc/cpadescription.pdf
• Baker, R. (2018). Essential skills for a career in accounting. Accounting Today. Retrieved from https://www.accountingtoday.com/opinion/essential-skills-for-a-career-in-accounting
• Burns, J. (2019). Why accounting is a great career choice. Forbes. Retrieved from https://www.forbes.com/sites/jrose/2019/06/04/why-accounting-is-a-great-career-choice/?sh=43ef1eb3645e
• Peavler, R. (2021). Why accounting is important to business. The Balance. Retrieved from https://www.thebalance.com/why-is-accounting-important-to-business-397405
• PwC. (2021). Accounting services. Retrieved from https://www.pwc.com/us/en/services/audit-assurance/accounting-services.html
• Schaefer, R. (2019). How to become an accountant: Steps to take from high school to career success. Business Insider. Retrieved from https://www.businessinsider.com/how-to-become-an-accountant

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Accounting in Business Essay

Accounting is referred to as “the language of business”. It is an art of recording, classifying and summarizing information about a business entity in relation to economic resources that are used in finding out the causes of success and failure in business. Due to its relevance in business it has been developed into two models; Management accounting, which deals with reporting financial information to the business stakeholders inside the organization to enhance taking managing and operating decisions; and financial accounting which provides useful information to potential and would-be stakeholders in the organization.

This has affected accounting as it has enabled easier provision of information to different groups of people through assortment of data to be handed to the financial accounting and management accounting (Sterling & Bentz, 54).

Accounting provides a body of rules and legislations that directs reporting of financial information referred to as “Generally Accepted Accounting Standards”. These accounting guidelines are adopted by many organizations and provide a standardized platform for businesses to present their financial information to the interested parties.

Jurisprudence application affects accounts and finance in accordance to the culture, religion, race and political background of the region. This is so as the laws govern the type of financial system regarding to spending, saving, investing, giving, property ownership and business marketing (Smith, Keith & Stephens, 78).

It is assumed in business, that a company cannot manage what it cannot measure. This is where an accounting system comes in handy. Without an accounting system a company cannot ascertain whether it is operating profitably or at a loss; it cannot budget cash flows in a given period; and also it cannot manage customer’s turnover or flow of inventory.

Accounting helps businesses to report accurately business transactions. In an accounting system, axiomatisation is used to show how propositions can fit in a deductive and logical system as they not only exist, but there are methods of creating them. This is through checking all measures and risk available and frequency of the object for easier description.

Accounting tends to facilitate intuitive thinking rather than of rational understanding as it is created with its purpose. This is so as accounting work is elusive, impetus, refractive at classification as they can be acknowledged in more than one way and has different interpretations. Accounting does not regulate as it is has no limits which govern it. This is so as it has no rules and regulations as what to account for or not to due to its diversity in the market of business (Power, 23).

Application of physics fundamentals has enabled development of current accounting technology, for example, accounting softwares and cloud computing. Most companies and institutions are implementing cloud accounting over the use of spreadsheets in accounting. This offers an easier method of maintaining financial records and also offers real time access to information (Kirkland & Howard, 89).

However the accounting field has been faced with numerous problems and challenges in attaining its objectives. Accounting has allowed fraudulent behaviors to go on at the expense of the involved parties. In current times a lot of accounting scandals have been witnessed as a result of loopholes in the accounting systems. More recently was the Madoff scandal which fleeced investors billions of dollars due to failure of legislations within the profession to address issues. Other scandals include Sunbeam, Qwest, Worldcom and Arthur Andersen frauds.

Accounting as a profession has been faced by the problem of malpractice by the accountants and lack of proper legislations to guide the professions. Accounting has primitives only on ungrounded standards as the techniques are not founded as it is extensive and thus requires wide research work.

Accounting is a complex subject and involves expertise and necessary infrastructure to maintain an effective accounting system. Many small and medium businesses do not maintain a proper accounting record due to the rigorous process and also it is expensive to acquire the necessary personnel and infrastructure (Ketz, 203; Yamey, 154).

Works Cited

Ketz, Edward. Accounting Ethics: Crisis in accounting ethics . New York: Routledge Publishers, 2006. Print.

Kirkland, Keith & Howard, Stuart. Simple and practical accounting with computers: a guide to the benefits of computerised accounts . London: Kogan Page, 1998. Print.

Sterling, Robert & Bentz, William. “Accounting in Perspective: Contributions to Accounting Thought by Other Disciplines ”. The Accounting Review , Vol. 46, No. 4. 1971. Print.

Power, Michael. Accounting and science: natural inquiry and commercial reason . London: Cambridge University Press, 1996. Print.

Smith, Jack, Keith, Robert & Stephens, William. Accounting principles . Sabine: McGraw-Hill, 1983 Yamey, Basil. Art & accounting . New York: Yale University Press, 1989. Print.

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Brief History of Accounting: A Career Path for You

Gain a greater appreciation for accounting. Learn how this career has evolved with the times. Decide if this could be a plausible career for you.

When did we invent accounting? There’s a long history of accounting, and many ancient civilizations helped build the processes we use today. From ancient Mesopotamia ruins and the Middle Ages to our modern-day society, accounting has evolved with the times. Gain a greater appreciation for accounting and determine if it’s the right career choice for you.

Earliest Recording

The earliest accounting records date back to 7,000 years ago. Archaeologists found them in Ancient Mesopotamia ruins. However, accounting was used to record crop and herd growth. These records helped farmers determine if they should expect a surplus or shortage after harvesting.

The Deeds of the Divine Augustus , a first-person inscription describing the Roman emperor’s life and accomplishments, includes financial accounting. The text contains accounts of land grants, temple buildings, religious offerings, and even money spent on gladiator events. The emperor likely had a financial adviser and record keeper that helped his accounting. Today, we thankfully have our own accountants, and they are tremendous resources for millennial budgeting .

Middle Ages

In the Middle Ages, bartering evolved into a monetary economy. Merchants relied on bookkeeping, so double-entry bookkeeping evolved with this change. This is when we see the start of debit and credit values. It provided business owners with steady information about how their business was doing and if they were making a profit. The Middle Ages laid the foundation for the accounting we use today, and we still follow many of their basic principles.

There are now different sectors of accounting that are crucial to a thriving business and economy. If you really want to define your accounting career path, then try reading about three different career paths for accounting professionals that would make a vibrant career choice. At their core, accountants track and communicate the ebb and flow of money. From businesses and non-profits to governments and individuals, they help a broad span of people with regulations and money flow. If you enjoy numbers, record-keeping and communicating, accounting could be a successful career for you. Use this brief history of accounting to gain a better picture of accounting and see if it’s the correct career path for you.

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Accounting Career Paths: The Number Cruncher's Guide

By Will Erstad on 06/12/2018

Choosing a degree that is right for you is challenging. But finding one that meets your needs while raising a family is just as important. While you want to study something you’re passionate about, you can’t help but think about the impact it will have on your family and future.

If you’re considering a career in accounting, then you’re likely already trying to calculate the return on investment (ROI) of earning a degree. You want to ensure you’ll be able to launch a long and rewarding career after graduating. A big part of that is knowing what lies ahead as you progress through the different levels of accounting careers.

We used a combination of real-time job data, government information and expert insight to help you envision your accounting career path. This guide will give you a better understanding of what to expect as you forecast your future in accounting.

Your accounting career path: Getting started

The first step on any accounting career path is to acquire the appropriate education. Accounting is a complex field, so this should come as no surprise. Aspiring accountants have the option of earning an Associate’s degree or a Bachelor’s degree , but the latter will open up more doors for your long-term career.

We used real-time job analysis software to examine more than 238,000 accounting job postings from 2017. * The data indicates that an overwhelming 98 percent of employers prefer accounting candidates have a Bachelor’s degree.

Not only will your degree choice determine the number of jobs for which you’ll qualify, but it will also determine the types of jobs for which you’ll qualify, according to Kari Grittner, Accounting program coordinator for the Rasmussen University School of Business . She says an Associate’s degree can help land you an entry-level position, such as in bookkeeping or data entry. But earning a Bachelor’s degree is the key to helping you advance past entry-level jobs.

Your accounting career path: Entry-level accounting jobs

Earning your degree is just the first step to becoming an accountant. You also have to choose whether you’d like to work in public or private accounting. Public accountants work with a variety of clients to prepare financial documents that an individual or corporation is required to disclose to the public. Private accountants work internally within a company to manage their financial documents.

Both focus areas have pros and cons—public accounting jobs come with yearly busy seasons that require long hours, while private accounting may have less opportunities to advance or specialize. Deciding between public versus private accounting is an important choice, so be sure to do your research.

Once you make your decision, the next step is landing that first job. The good news is there are a handful of options for entry-level accountants. Our analysis of job postings helped us identify the top job titles for accountants with two years or fewer of experience. *

Here are the most common job titles we found:

• Staff accountant
• Junior accountant
• Accounts payable / accounts receivable clerk
• Financial analyst
• Audit associate

Any of these positions would be a great first step in the accounting field. Once you’re in, you’ll begin gaining the experience and industry know-how to advance on your accounting career path.

Your accounting career path: Mid-level accounting jobs

One of the benefits of working in accounting is that there are opportunities to work your way up the corporate ladder. Once you have some professional experience under your belt, you can start exploring more advanced positions.

Our job analysis helped us identify some of the most common accounting job titles for professionals with between two and eight years of experience: *

• Accounting manager
• Cost accountant
• Accounting analyst
• Audit manager

As you might expect, these mid-level accounting roles start to branch out in terms of responsibilities. You may choose to specialize in cost accounting or tax accounting. Or perhaps you decide to move into a more supervisory role where you oversee the work of junior accountants. Many accounting professionals never progress past this tier of occupations, but there are plenty of specialties and focus areas that will allow you to grow professionally.

Your accounting career path: Senior-level accounting jobs

After working and proving yourself as an accountant for nine or more years, your experience managing and leading could put you in contention for some of the most coveted positions in the industry. While it’s true not every accountant will break through into a senior-level accounting role, it’s good to know what lies ahead and what to strive for.

For many public accountants, becoming a partner in a public accounting firm is one of the ultimate destinations. For private accountants, becoming a chief financial officer (CFO) is often the top of the corporate ladder.

Our job analysis helped us identify these other common accounting job titles for professionals with at least nine years of experience in the field:

• Senior accountant
• Audit director
• Tax manager

These senior-level positions obviously carry a lot of responsibility, but you can expect to be appropriately compensated for your expertise.

Where will your accounting career path take you?

This overview should give you a better idea of where a degree in Accounting could lead you. Knowing you have a variety of opportunities and room to grow should give you the confidence you need to take the next step in launching your new career.

If you’re confident that accounting is the career for you, then there’s no point in waiting to get started. Start planning your next move by reading our article, “ Your Step-by-Step Guide on How to Become an Accountant .”

* Burning-Glass.com (analysis of 238,292 accounting jobs, Jan. 1, 2017 – Dec. 31, 2017) EDITOR’S NOTE: This article was originally published in August 2015. It has since been updated to include information relevant to 2018.

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Will Erstad

Will is a Sr. Content Specialist at Collegis Education. He researches and writes student-focused articles on a variety of topics for Rasmussen University. He is passionate about learning and enjoys writing engaging content to help current and future students on their path to a rewarding education.

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Accounting History and Terminology

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What Are the Origins of Accounting?

History of accounting, how has modern accounting evolved in recent years.

Accounting is more than just the act of keeping a list of debits and credits . It is the language of business and, by extension, of all things financial. Our senses collect information from our surroundings that our brains then interpret; accountants translate the complexities of finance into information that the public can understand. In this article, we will follow accounting from its roots in ancient times to its modern equivalent.

Key Takeaways

• Bookkeepers emerged when societies used the barter system and needed to record the agreements that they were making regarding goods or service transactions.
• Later, accounting ledgers were completed by hand and used either a single- or double-entry system.
• Luca Pacioli, a monk, laid the groundwork for modern accounting by creating an independent record that provided a clearer picture of an entity’s financial activities: the financial statement.
• The railroads and the emergence of corporations were the stimulus for the establishment of accounting professionals.

Investopedia / Sabrina Jiang

Accounting is a language that dates back thousands of years and has been used in many parts of the world. The earliest evidence of this language comes from Mesopotamian civilizations more than 7,000 years ago. The Mesopotamians kept the earliest records of goods traded and received, and these activities are related to the early record-keeping of the ancient Egyptians and Babylonians. The Mesopotamians used primitive accounting methods, keeping records that detailed transactions involving animals, livestock, and crops.

In India, philosopher and economist Chanakya wrote “Arthashastra” during the Mauryan Empire around the second century B.C. The book contained advice and details on how to maintain record books for accounts.

The Bookkeepers

Bookkeepers most likely emerged while society was still using the barter system to trade (before 2000 B.C.) rather than a cash-and-commerce economy. Ledgers from these times read like narratives, with dates and descriptions of trades made or terms for services rendered.

Below are two examples of what these ledger entries may have looked like:

• Monday, May 12: In exchange for three chickens, which I provided today, William Smallwood (laborer) promised a satchel of seed when the harvest is completed in the fall.
• Wednesday, May 14: Samuel Thomson (craftsman) agreed to make one chest of drawers in exchange for a year’s worth of eggs. The eggs are to be delivered daily once the chest is finished.

All of these transactions were kept in individual ledgers. If a dispute arose, they provided proof when matters were brought before magistrates. Although tiresome, this system of detailing every agreement was ideal, because long periods could pass before transactions were completed.

New and Improved Ledgers

As currencies became available and tradesmen and merchants began to build material wealth, bookkeeping evolved . Then, as now, business sense and ability with numbers were not always found in one person, so math-phobic merchants would employ bookkeepers to maintain a record of what they owed and who owed debts to them.

Until the late 1400s, this information was arranged in a narrative style with all the numbers in a single column—whether an amount was paid, owed, or otherwise. This is called “single-entry” bookkeeping.

Here’s a sample of a bookkeeper’s single-entry system. You can see how the entries are laid out with a date, a description, and whether it was owed or received by the symbols in the amount column.

The bookkeeper had to read the description of each entry to decide whether to deduct or add the amount when calculating something as simple as monthly profit or loss. This was a time-consuming and inefficient tallying method.

The Mathematical Monk

As part of the tradition of learned monks conducting high-level scientific and philosophical research in the 15th century, Italian monk Luca Pacioli revamped the common bookkeeping structure and laid the groundwork for modern accounting. Pacioli, who is commonly known as “the father of accounting,” published a textbook called “Summa de Arithmetica, Geometria, Proportioni et Proportionalita” in 1494, which showed the benefits of a double-entry system for bookkeeping.

The idea was to list an entity’s resources separately from any claims on those resources by other entities. In the simplest form, this meant creating a balance sheet with separate debits and credits. This innovation made bookkeeping more efficient and provided a clearer picture of a company’s overall strength. This record, however, was only for the owner who hired the bookkeeper. The general public had no access to such records—at least not yet.

Here is what the double-entry system may have looked like. You can see the two separate columns for debits and credits, along with the description of each transaction and how it was paid: cash or commodities. In this case, it was chickens, seeds, eggs, and furniture.

Coming to America

Bookkeeping migrated to America with European colonization. Although it was sometimes referred to as accounting, bookkeepers were still doing basic data entry and calculations for business owners. However, the businesses in question were small enough that the owners were personally involved and aware of the financial health of their companies. Business owners did not need professional accountants to create complex financial statements or cost-benefit analyses .

The American Railroad

The appearance of corporations in the United States and the creation of the railroad were the catalysts that transformed bookkeeping into the practice of accounting. Of the two factors, the railroad was by far the most powerful. For goods and people to reach their destinations, you need distribution networks , shipping schedules, fare collection, competitive rates, and some way to evaluate whether all of this is being done in the most efficient way possible. Enter accounting with its cost estimates, financial statements, operating ratios , production reports, and a multitude of other metrics to give businesses the data that they needed to make informed decisions.

The railroads also allowed information to be passed from city to city at great speed. Business transactions could be settled in days rather than months. Even time was uneven across the country before the railroad. Previously, each township decided when the day began and ended by general consensus. This was changed to a uniform system in 1883 because it was necessary to have goods delivered and unloaded at certain stations at predictable times.

The shrinking of the country thanks to the railroads and the introduction of uniformity encouraged investment, which, in turn, put more focus on accounting. Up to the 1800s, investing had been either a game of knowledge or luck. People acquired issues of stock in companies with which they were familiar through industry knowledge or acquaintanceships with the owners. Others blindly invested according to the encouragement of relatives and friends. There were no financials to check if you wanted to invest in a corporation or business; thus, the risks involved ensured that investing was only for the wealthy—a rich man’s sport, tantamount to gambling. This image persists today.

Early Financial Statements

To attract investors, corporations began to publish their financials in the form of a balance sheet, income statement , and cash flow statement . These documents were proof of a company’s profit-making abilities. Although investment capital stimulated operations and profits for most corporations, it also increased the pressure on management to please their new bosses: the shareholders . For their part, the shareholders did not completely trust management , which exposed the need for independent financial reviews of a company’s operations.

Birth of a Profession

Accountants were already essential for attracting investors, and they quickly became essential for maintaining investor confidence. The American Association of Public Accountants (AAPA) was established in 1887, and the accounting profession was formally recognized in 1896 with the establishment of the professional title of certified public accountant (CPA). The title is awarded to those who pass state examinations and have three years of experience in the field. The creation of professional accountants came at an opportune time. Less than 20 years later, the demand for CPAs skyrocketed as the U.S. government, in need of money to fight a war, began charging income tax in 1913 .

Technology has changed accounting today. Bookkeeping is now automated. Since the first records were kept in America, bookkeepers have used a number of tools. William Seward Burroughs’ adding machine, created in 1887 and perfected for commercial sale in the 1890s, helped early accountants calculate receipts and quickly reconcile their books.

When IBM released its first large computer in 1952, it was based on the vacuum tube, which was small enough that it made it possible for businesses to buy them and led to accountants being among the first to use them. By 1959, transistors were replacing the tubes and making computers even more accessible. As early as 1961, transistors were being supplanted by microchips, which eventually led to computers for everyone.

Today, technology has brought accounting software such as QuickBooks. These new advancements are much more intuitive, helping accountants do their job quicker, more accurately, and with more ease.

Fremont College. “ History of Accounting .”

Encyclopaedia Britannica. “ Artha-shastra .”

New World Encyclopedia. “ Luca Pacioli .”

Circulus. “ 1860–1880 History of Accounting .”

History. “ Railroads Create the First Time Zones .”

Circulus. " History of Accounting: 1880 thru 1900 ."

Smithsonian Magazine. “ How America’s First Adding Machine is Connected to ‘Naked Lunch’ .”

IBM. “ Chronological History of IBM: 1950s .”

University of Nebraska-Lincoln, Computer Science and Engineering. “ Electrifying Microchips .”

Intuit. “ QuickBooks Online .”

• Accounting History and Terminology 1 of 35
• Absorption Costing Explained, With Pros and Cons and Example 2 of 35
• What Is an Amortization Schedule? How to Calculate with Formula 3 of 35
• Average Collection Period Formula, How It Works, Example 4 of 35
• Bill of Lading: Meaning, Types, Example, and Purpose 5 of 35
• What Is a Cash Book? How Cash Books Work, With Examples 6 of 35
• Cost of Debt: What It Means and Formulas 7 of 35
• Cost of Equity Definition, Formula, and Example 8 of 35
• Cost-Volume-Profit (CVP) Analysis: What It Is and the Formula for Calculating It 9 of 35
• Current Account: Definition and What Influences It 10 of 35
• Days Payable Outstanding (DPO) Defined and How It's Calculated 11 of 35
• Depreciation: Definition and Types, With Calculation Examples 12 of 35
• Double-Declining Balance (DDB) Depreciation Method Definition With Formula 13 of 35
• EBITDA: Definition, Calculation Formulas, History, and Criticisms 14 of 35
• Economic Order Quantity: What Does It Mean and Who Is It Important For? 15 of 35
• 4 Factors of Production Explained With Examples 16 of 35
• Fiscal Year: What It Is and Advantages Over Calendar Year 17 of 35
• How a General Ledger Works With Double-Entry Accounting Along With Examples 18 of 35
• Just-in-Time (JIT): Definition, Example, and Pros & Cons 19 of 35
• Net Operating Loss (NOL): Definition and Carryforward Rules 20 of 35
• NRV: What Net Realizable Value Is and a Formula To Calculate It 21 of 35
• No-Shop Clause: Meaning, Examples and Exceptions 22 of 35
• Operating Costs Definition: Formula, Types, and Real-World Examples 23 of 35
• Operating Profit: How to Calculate, What It Tells You, and Example 24 of 35
• Production Costs: What They Are and How to Calculate Them 25 of 35
• What Is a Pro Forma Invoice? Required Information and Example 26 of 35
• Retained Earnings in Accounting and What They Can Tell You 27 of 35
• Revenue Recognition: What It Means in Accounting and the 5 Steps 28 of 35
• What Is a Sunk Cost—and the Sunk Cost Fallacy? 29 of 35
• Triple Bottom Line 30 of 35
• Variable Cost: What It Is and How to Calculate It 31 of 35
• Work-in-Progress (WIP) Definition With Examples 32 of 35
• Write-Offs: Understanding Different Types To Save on Taxes 33 of 35
• Year-Over-Year (YOY): What It Means, How It's Used in Finance 34 of 35
• Zero-Based Budgeting: What It Is and How to Use It 35 of 35

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Home — Essay Samples — Life — Career — My Career Plan In The Field Of Accounting And Finance

My Career Plan in The Field of Accounting and Finance

• Categories: Career Career Goals

About this sample

Words: 466 |

Published: Feb 8, 2022

Words: 466 | Page: 1 | 3 min read

Works Cited:

• Frant, M. (n.d.). The personal revolution. Retrieved from https://www.brainyquote.com/quotes/michael_franti_470103
• Gandhi, M. (n.d.). Mohandas Gandhi quotes. Retrieved from https://www.goodreads.com/author/quotes/581089.Mohandas_Gandhi
• Vivekananda, S. (n.d.). Swami Vivekananda quotes. Retrieved from https://www.goodreads.com/author/quotes/7108.Swami_Vivekananda

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Accounting Manager Professional Goals

Getting started as a accounting manager.

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12 Professional Goal Examples for Accounting Managers

Enhance financial reporting accuracy, streamline accounting processes, develop expertise in tax compliance, lead a budgeting initiative, foster team professional development, implement advanced financial analysis, achieve a professional accounting certification, enhance internal controls, improve cash flow management, lead financial software integration, cultivate ethical financial practices, expand industry knowledge, career goals for accounting managers at difference levels, setting career goals as an entry-level accounting manager, setting career goals as a mid-level accounting manager, setting career goals as a senior-level accounting manager, leverage feedback to refine your professional goals, utilizing constructive criticism to sharpen financial acumen, incorporating client feedback to align with market expectations, leveraging performance reviews for strategic career planning, goal faqs for accounting managers, how frequently should accounting managers revisit and adjust their professional goals, can professional goals for accounting managers include soft skill development, how do accounting managers balance long-term career goals with immediate project deadlines, how can accounting managers ensure their goals align with their company's vision and objectives.

What is a Accounting Manager?

More Professional Goals for Related Roles

Steering financial success with strategic oversight, ensuring fiscal integrity and growth

Driving financial health and growth, steering company's fiscal decisions and strategies

Driving financial strategies, analyzing market trends for business profitability

Navigating tax complexities, ensuring compliance and optimizing financial strategies

Driving financial health by managing receivables, ensuring timely and accurate payments

Navigating financial landscapes, optimizing costs and enhancing company's fiscal health