Accounting : Financial And Management Accounting

1025 WordsOct 11, 20155 Pages
Accounting is one of the three careers that is being discussed that a business majors are able to embrace in. Accounting is where employees are keeping up with the company’s records. Accountants take actions on keeping up with the company payroll cost, expenditures, and the sales revenues. They are to also keep track of the company’s losses and profits (Hill “Accounting” 1-5). When accountants insert all of the information that they are to keep track of, it is important that they insert it correctly, because if anything is inputted wrong it may damage the company (“Accounting”4-8). The American Institute of Certified Public Accounts, (AICPA) was an organization that was set up to help them insert accurate data. This helps them make better decisions on what the company can afford to do and what the company cannot afford to do. (“Accounting”4-8). Accounting is divided into two sub divisions. These divisions are financial and management accounting. Financial accounting is where the stockholders are provided with the company financial actions. Management accounting is where the business data is used by the company and the employees to uplift the direction that the company is headed in (“Accounting” 4-8 When it comes down to applying information about a company financial statement, the accountants are set too many guidelines, rules, and procedures. Everyone should first trust and have confidence that the data is set on good, steady principles. There are plenty of modern day
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