Tips To Start Your Accounting Career

What are the best ways for you to get your accounting career started? When I started my career, I know I was a little intimidated by the process. However, once you know what you are doing and how to go about lining everything up, you can actually you're your accounting career up and running in no time.

The first step to getting your accounting career up and running is to make sure you have the proper education. In order to have an accounting career you will want to make sure you have some sort of accounting education. Check on line and you may be able to find a school or program that can help you with getting your degree. If, though, you already have your accounting degree, you are one step closer to getting your accounting career off the ground.

Once you have your education completed, the next step in getting an accounting career going is to figure out what you want to do, exactly. For instance, you can choose a corporate accounting career, you can work for individuals, or you could even work for a non-profit organization of some kind. In other words, before you get your accounting rolling you will need to figure out what exactly your accounting career is going to be.

Once you figure out what type of accounting career you want to get started, you can begin your search for a job. There are three good places to look for jobs that can get your accounting career off the ground: the internet, newspaper, and through a headhunter. Check online job sites to see what types of accounting jobs are available in your area. Finding an entry-level job can be just the boost you need to get your accounting career going.

Another way to find that local job is through one of the local newspapers. Check the classifieds in the paper under accounting. There you can find accounting career entry level jobs that may help you. You can also contact a headhunter in the area. A headhunter specializes in placing people in jobs for their clients. If you have the education required to get into an accounting career, a headhunter may be able to place you with one of his or her clients.

Getting any career off the ground is a little bit of a challenge for most anyone. You want to get your accounting career going, and that is something that can be done as long as you know how to go about it. First, make sure you have the education required of someone with an accounting career. Next, figure out exactly what type of accounting career you would like to have, whether it be corporate, private, or non-profit. Finally, it is time for you to get a job and get your accounting career rolling. If you want to build a career, get yourself started by following these simple tips and you will be going before you know it.

Accounting Education in Films

Because of major financial crises that have occurred in the past, many film producers choose to re-enact these events through movie productions. These producers were forced to incorporate technical accounting and financial principles to correctly portray the events leading to a financial crisis. "Other People's Money," a film released in 1991, by Norman Jewison, starred Danny Devito as Lawrence Garfield. Garfield's success has come as a result of purchasing companies and liquidating their assets, which required accounting and financial theories. The accounting that is discussed during the movie directly relates to course material commonly studied in an intermediate level accounting class.

Garfield identifies an appealing company called New England Wire and Cable. He is aware that the company has a higher liquation value per share than market price per share. In addition, he is particularlyimpressed by this company because it has no debts, no legal liabilities, no environmental or contingent liabilities, and a fully funded pension. Garfield makes every effort to influence the owner to sell the company and illustrates to him how his assets are worth more after liquidation.

This movie incorporates many theories and topics presented at an intermediate accounting level. Topics such as Generally Accepted Accounting Principles (GAAP), liquidation, market value, historical costing, financial statements, and fair market value are frequently mentioned throughout the plot. A particular scene in the movie displays Lawrence Garfield explaining a very basic valuation analysis to the owner of New England Wire and Cable that simplifies the concept of "market value or price per share." This calculation includes the addition of equipment at salvage value, land at fair market value, value of other operations, and working capital, totaled and divided by the number of shares issued and outstanding.

The equation is begun by explaining that equipment, purchased at 120 million dollars, has a salvage value of 30 million dollars. The concept of depreciation, which includes salvage value, or value of an asset at the end of its useful life, is an intermediate level accounting topic that is frequently referenced. Garfield continues by adding the fair market value of the land, as grazing land. When learning fair market value (FMV) in accounting education, it is commonly associated with impairments, a topic learned in intermediate accounting. New England Wire and Cable also conducts operations of plumbing electrical and adhesive, with added other revenues to Garfield's calculation. Finally, working capital is added to this part of the equation. Working capital, particularly as a ratio, is constantly used in accounting and finance to show liquidity of a business by comparing current assets to current liabilities. In intermediate accounting courses, current liabilities are further discussed relating to gain and loss contingences.

To begin the second part of the calculation, Garfield decided to reduce the total by 25 million dollars because the wire and cable division of the company is not producing a profit and is being supported by the other divisions. He does this to be conservative. Conservatism has remained a large part of intermediate level accounting, specifically in acquisition and valuation of plant, property, and equipment. Following this new conservative total, Garfield calculates the value per share of 25 dollars by dividing by the number of shares issued and outstanding. The current owner of New England Wire and Cable mentioned that the initial market price was 10 dollars per share and Garfield refers to this as a "sale" since its liquidation value per share is 25 dollars.

The market price per share of stock is a current measure, not based on historical values. All of the variables needed to calculate the market price per share is given within a company's financial statements. The difference been these two values is that the initial market value is what the stock is actually selling for per share while the liquidation value is what each share would be sold for if the company should go out of business and sell all assets. Typically, the market price per share should be higher than liquidation value. In addition to the actual calculation of a valuation analysis, students of intermediate accounting are continually educated on the preparation of financial statements, in compliance with the Generally Accepted Accounting Principles, otherwise known as GAAP.

Accounting Colleges in Kenya

Accounting is a rigorous and time-consuming profession. To become an accountant in Kenya, an individual must graduate from one of the nation's many accounting schools. The accounting schools train students for the realities of the profession and prepare them to take the necessary examinations as required by the Institute of Certified Public Accountants of Kenya.

Bridge College of Professional Studies

Established in 1993, Bridge College is located in Kenya's capital, Nairobi. The college's School of Business Management offers students an Advanced Diploma in Accounting and finance course. It is an 18-month program that is divided into three six-month terms. Each term costs between 9,000 and 10,500 Kenyan Shillings (between $109.95 and $128.28 USD) as of June 2010. The course offers classes on bookkeeping, entrepreneurship, accounting, business law, financial management, auditing and taxation.

KCA University

KCA University offers business management courses to students. The university was created in 1989 after a report determined that Kenya needed to graduate at least 400 accountants every year to meet business demands. The School of Professional Programmes offers an Accounting Technicians Certificate (ATC), a Certified Public Accountants (CPA) degree and an Association of Chartered Accountants (ACCA) degree. The ATC course prepares decree holders to maintain accounting records and other related technical tasks. The CPA course allows degree holders to follow up with additional specialized courses in accounting such as the ACCA. The ACCA is an internationally-recognized degree that allows a degree holder to work outside Kenya.

Strathmore University

Strathmore University is located in Nairobi. Its School of Accountancy offers several degrees, including the Certified Public Accountant Course (CPA) and the Association of Chartered Certified Accountants (ACCA). The CPA course includes classes in subjects such as Cost Accounting, Financial Management, Taxation and Company Law. A graduate with a CPA degree can work as accountants, tax managers or go on to take specialized courses in accounting such as the ACCA. The ACCA degree allows a graduate to work outside of Kenya as an accountant and can be taken full time or part time.

Pinnacle Business School

Pinnacle Business School is located in Nairobi and was established in 2007. It offers full-time and part-time students the Accounting Technicians Certificate (ATC) and a Certified Public Accountants (CPA) degree. Students taking the ATC course take classes in Business Mathematics, Principles of Management and Auditing. The CPA course includes classes in Entrepreneurship and Communication, Economics, Cost Accounting, Auditing and Assurance. Each school year at Pinnacle Business School is divided into two semesters. The first semester runs from January through May while the second semester is from July until November.

What Is Intermediate Accounting?

1. Features

   • Intermediate accounting introduces students to a deeper and broader level of accounting theory. The typical intermediate accounting format requires two semesters of intense conceptual course work.
     

   Topics

   • Topics found in intermediate accounting include the conceptual framework of Generally Accepted Accounting Principles (GAAP), financial ratios analysis, equity accounting, investment strategies and financial statement preparation.
     

   Significance

   • Because intermediate accounting courses represent the beginning of major accounting theory concepts, students who fail to complete the course often change their majors because they are unable to finish the degree in four years.
     

   Considerations

   • Students looking to begin a career in public accounting should carefully choose the colleges where they earn their accounting degrees. Certain colleges and universities have better accounting programs, equipping their students with the education needed to pass the Certified Public Accountant (CPA) exam.
     

   Expert Insight

   • Several accounting websites, such as AccountingCoach.com or CliffsNotes.com, offer students various resources on learning intermediate accounting concepts. These resources are useful because traditional textbooks may be difficult for students to use during the accounting course.
     

How to Write a CV for an Accounting Assistant

An accounting assistant might want to write a curriculum vitae for several reasons, whether it's to provide biographical material for a news article, submit information for a service award or to supply information for a job application. A CV differs from a resume in that a CV is a more complete account of a person's history, especially as it relates to his career. For example, while a resume would not list every article published in trade journals, a CV would list them, including the dates they were published and the names of the journals. A resume is generally limited to two pages, but a CV can be as long as necessary to list a person's publishing credits.
 

Instructions

1. • 1
     Create a digital text document with Microsoft Word or another word processing application. Open a new file and begin writing your CV by typing in "Curriculum Vitae" at the top. Center "Curriculum Vitae" on the page. Continue by typing your contact information in the upper left corner of your document. Include your name, address, phone number and email address.
     
   • 2
     Create a work history section of your CV by typing in "Work History" on a single line in bold letters. List your work history in reverse chronological order. Include the positions you held, the companies you worked for and the dates of employment. Focus on work that is related to accounting or related fields, list the names of past supervisors and be as detailed as possible in your descriptions. Curriculum vitae roughly translates to "course of life" in Latin, so you want each entry to be as complete as it can be.
     
   • 3
     Add a "Qualifications" section to your CV. You'll want to refer to the employment history you listed in the "Work History" section in this area, but focus on skills and training here. Note any specific job responsibilities or skill sets developed during your employment. While a resume might not list every training course that you took while employed in a particular position, a CV will. Remember that a CV has no length limit.
     
   • 4
     Write a section that outlines your educational background. Include dates of school attendance and degrees earned. Note any special coursework in math and accounting. List names of specific courses that are related to accounting, which will present a more complete picture of your educational background than a resume would.
     
   • 5
     Follow with a CV section entitled "Honors and Associations." Here, you'll list any honors you received from any of the clubs in which you are a member. Even if you have no awards, list the organizations. While a resume might limit entries to those related to accounting, a CV will list them all.
     
   • 6
     Read over your CV to catch any typographical errors.
     

List of Accounting Courses

Accountants, accounting clerks, bookkeepers and auditors may study for up to five years to prepare for careers in this growing field. While precise course names may vary, coursework in auditing, federal income tax accounting and ethics are usually standard among undergraduate accounting curricula. Programs may additionally require students to complete a related internship for credit in order to apply accounting concepts like budget analysis and database management in a practical setting.

1. Principles of Accounting

   • All undergraduate accounting programs include an introductory course in accounting basics most pertinent for those interested in operating sole proprietorships. Payroll accounting, accountant processes and Accounting for Cash are only a few of the topics covered in this foundational course.
     

   Computerized Accounting

   • Undergraduate accounting curricula generally include coursework designed to familiarized students with the latest methods in electronic bookkeeping, database management and how to apply accounting principles using computerized software.
     

   Accounting Ethics

   • Through case studies, students will evaluate the evolution of ethics in accounting and discuss professional responsibility. Students will also explore ethical standards set by state boards of accountancy.
     

   Cost Management

   • A cost management or cost accounting course is designed to train students how to manage internal operations within an industrial setting. Project planning, decision-making, budget analysis and profitability concepts are also emphasized in this course.
     

   Auditing

   • Coursework in auditing is standard among undergraduate accounting curricula. Students will learn how to gather and evaluate evidence for an audit, and may even complete a student-prepared audit. Auditing courses also include some degree of focus on ethics and legal liability.
     

   Income Tax Accounting

   • Income tax accounting course offers guidance in tax preparation. Students will develop a familiarization with various tax forms, as well as tax preparation software. A close examination of federal, state and local tax laws is also part of this course.
     

   Governmental Accounting

   • A government accounting course will focus on theories, practices and other special requirements unique to accounting for government and not-for-profit entities, like public schools. Coursework in this area covers specialized reporting concepts and budgeting procedures. Undergraduate accounting programs typically require that students complete prerequisites prior to enrolling in this advanced course.
     

What Are the Duties for an Accounting Assistant Work Study?

Work-study programs are federally funded and awarded under the Federal Work Study (FWS) program. Community colleges and universities usually offer positions to students who are working on specific majors, such as accounting, to work within their field; these schools pay them using these federal funds. To be eligible for an accounting work-study program, you must demonstrate financial need..

1. General Office
   • Accounting assistants in work-study programs will perform many office duties including filing, preparing documents; operate standard office equipment and enter information into a database. Assignments will become increasingly more detailed as an accounting assistant gains experience in the field.
   Money Management
   • Part of the job duties for an accounting assistant work-study student may include processing payments, updating account finance and managing bills. Other monetary duties, such as preparing and depositing currency, are likely to be part of a work-study program job description.
   Computer and Data Entry
   • Entering information into a computer spreadsheet program and using computer software to create reports may be part of an accounting assistant work-study position. It might be necessary to have some basic mathematical knowledge as well as word processing skills to perform necessary accounting assistant job-related activities.