Zimbabwe Stock Xchange Listing Requirement

They must possess the skills and knowledge necessary to perform the functions of the auditing position and update their skills on an ongoing basis.

The profession of accounting is a one that is highly regulated, due to the knowledge and power each accountant possesses. Although an accountants duties differ from one position to the next, the main sectors that accountants pursue are auditing or taxation. Auditing is ensuring the public that the information listed on the financial statements of public companies is free of material misstatements. While taxation is helping people or companies file their tax returns to the federal government or offering tax advice. In the world of auditing, you either follow the Public Company Accounting Oversight Board (PCAOB), for public company audits, or the American Institute of Certified Public Accountants (AICPA), for other entities

In May 2008, the AICPA’s Governing Council designated the International Accounting Standards Board (IASB) as the body authorized to establish international financial accounting and reporting principles under rule 202 and 203 of the AICPA Code of Professional Conduct. Below is an illustrative Independent Auditor’s Report on financial statements issued in conformity with IFRS.

Section 50 of the AICPA code of Professional conduct membership for certified public accountant is voluntary. By being a member of this organization, members are obliged to have high ethical values and follow the rules and regulations. These laws are set to evaluate their performance of their professional responsibilities and express the basic tenets of ethical and professional conduct. Accountants must be always professional always. There are many attributes that can describe being professional. Accountant must be trustworthy and this can go a very long way. The perception of the public is very important since accountant must be a truth teller and be a great communicator to give clear and non-confliction information to the clients, employers or the society.

Accountants might give information to an open accountant, who goes about as an advisor, reviewer and duty administration proficient. Partnerships, charities, associations and governments use administration accountants to record and examine money related data of the organizations in which they are utilized. They for the most part prompt organization officials, lenders, stockholders, administrative offices and expense work force. Accountants might likewise work with government authorities who are looking at and keeping up the money related records of the private business for which an accountant is utilized, regarding tax collection and government

D. You would answer 3 questions and 2 Problems in two hours in final exam.

The Coca-Cola company has been in business since its inventor began selling it in drug stores in 1886 (The Coca-Cola Company, 2009). Pepsi-Cola was invented a short time later in 1898, but at the time it was called “Brad’s drink.” It was later renamed Pepsi-Cola in 1902 (Butler, 2006). Since those early days when the sodas were invented, Coca-Cola and Pepsi have been in competition with each other for the domination of the world’s soda market. Over the course of more than a century, sales have continued to rise for both companies, and they both consistently earn a profit. Both companies

Read the annual report of one of the Sensex Companies and prepare a note covering the following topics:

Review engagements provide a moderate level of assurance that financial statements are in accordance with appropriate criteria, in all material respects. (paragraph 8100.05 of the CICA Handbook)

As stated by investopedia GAAP is, “A set of systematic guidelines used by auditors when conducting audits on companies' finances, ensuring the accuracy, consistency and verifiability of auditors' actions and reports” (2008). One must have the capability to practice specialized decision in the analysis and coverage of intricate accounting data’s. One should have successful interpersonal talents and the capability to work with the smallest supervision and meet cut-off dates. One must be knowledgeable with Microsoft problems in such programs such as Excel, MS Word for Windows, E-mail and the Internet. In addition, outstanding reading understanding, interpretation, writing and verbal communiqué abilities. ESSENTIAL TASKS Employees may be required to do all or some of the duties of Junior Accountant or have the comprehension to execute it in addition to the tasks below. Achieve an extensive assortment of associated accounting tasks such as upholding ledgers, evaluating preliminary entries, providing data for the financial statement method, preparing annual accumulation, and interrelating with clientele and retailers to resolve objections and unease. “Collect, accumulate, and organize fiscal data, reports, statements, and accompanying illustrative annotations in harmony with GAAP” (investopedia, 2008). Analysis and review

The objectives of a review in accordance with the statements on standards for accounting differ significantly with those of audit financial statements in compliance with the general accepted auditing standards. During a review the accountants will perform analytical procedures and will obtain their information from asking the management a variety of questions rather than obtaining an understanding of the internal control structures and obtaining evidential matter throughout inspection, observation or confirmation as an audit process requires. Upon completion of the process the accountants will issue an opinion providing limited assurances on the fair presentation of the financial statements. This limited assurance opinion is different from

“Most employers require a minimum of a bachelor’s degree in accounting to work in an accountant or auditor position.” (Kelchner, 2013). To acquire a Certified Public Accountant license a minimum of a Bachelor’s degree is needed along with 150 undergraduate hours from a college or university. Some companies want their accountants to have a graduate degree depending on the position available. To learn to manage your own business a Bachelor’s degree would be sufficient coupled with some hands on experience. Different states have different requirements for accountants such as, specific courses and a minimum amount of semester hours in accounting. Some states even require business courses from accounting majors.”‘ Work experience can provide additional training and education for accountants. State boards of accounting may require are that candidates for a license complete a number of years

In any business operations, full financial disclosure refers to the provision of the necessary information about a company for better decision making by the people accustomed. It is the financial revelation of a given company. There are some financial disclosures in any business that ensure proper understanding of financial statements to the financial readers, or potential auditors. Examples are the annual financial reports and the financial declarations of the company. The annual financial reports of the enterprise are very useful since they discloses the revenues recognized in the business, and the accountability of the inventories plus the income taxes accounted for during that period of operation. Second, is the disclosure of this financial statements which gives the actual revelation of the company 's stock options, liabilities and the effects of foreign currencies?! This disclosure includes the company 's balance sheet of the year, income statements and also the cash statements flows of that year. This information gives a proper understanding of the financial status users about the effects of inflation and price change on property and inventories (Berger, 2011).

To express an opinion on the financial statements based on their audits, which is conducted in accordance with International Standards on Auditing.

Accounting professionals are in very high demand. The nature of work in accounting is so vast an individual would have so many different areas of accounting to choose from. Accounting requires people who can work with complex business structures, computer systems, and financial analysis packages. Accounting work further requires an aptitude for mathematics and the ability to compare and analyze accounting data quickly. Accountants also need to have strong communication skills as they must effectively communicate accounting data to their employers and/or clients. The accounting profession also demands a high level of integrity and morality because the financial data prepared by accountants is used by business managers to run their