The different types of Accounting Jobs Financial Accounting Public Accounting Government Accounting Management Accounting Tax Accounting Fiduciary Accounting.

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Presentation transcript:

The different types of Accounting Jobs Financial Accounting Public Accounting Government Accounting Management Accounting Tax Accounting Fiduciary Accounting Makes analytical observations that influence the investments and credit decisions This type is based on the rules issued by SEC (securities exchange committee), the FASB (Financial accounting standards board) and the ISAC (International Standard Accounting Convention) Most varied type and includes bookkeeping, account management and financial analysis for individuals, private businesses, public firms, government or NGOs, which are based either based nationally are internationally. Involves analyzing historical financial data to check for any discrepancies such as money laundering, embezzlement, frauds and any other illegal financial transaction and draw it to the attention of the law enforcement authorities. Is differentiated from other types of accounting in respect of providing service that is not profit based but service based Are employed by the federal government, either as a part of the IRS or any other budget or asset management division Provide their services to business houses for recording and studying the company's financial data. Their portfolio in the private firms includes cost and asset management, budgeting and performance evaluation They also perform internal audit to review the company financial management practices and keep an in eye for any mismanagement and fraud. Performed for a trust is called as fiduciary accounting and is done by the administrator, executor or the trustee, who also controls all property subjected to the trust Helps either an individual or a firm in filing a income tax return or planning taxes is known as a tax consultant. The tax accountant must be aware of the rules and regulations pertaining to tax policies.

Question #1 Government accountants are employed by the government as part of the…. 1.IRPIRP 2.IRSIRS 3.PRIPRI 4.RISRIS

Question #2 Out of the 6 jobs, which one is the most varied? 1.GovernmentGovernment 2.FiduciaryFiduciary 3.PublicPublic 4.TaxTax

Question #3 What does a Fiduciary Accountant do? 1.Performs internal audit reviewsPerforms internal audit reviews 2.Deal with method of double entry system ledgers and journalsDeal with method of double entry system ledgers and journals 3.Involved with external auditing or forensic accountingInvolved with external auditing or forensic accounting 4.Controls all properties subjected to the trustControls all properties subjected to the trust

Question #4 What does SEC stand for? 1. Securities and Exchange CommissionSecurities and Exchange Commission 2.Secretarial Executive CommissionSecretarial Executive Commission 3.Securities Executive CalculationSecurities Executive Calculation 4.Social Exchange CommissionSocial Exchange Commission

Question #5 What job includes analyzing historical financial data to check for any discrepancies such as money laundering? 1.GovernmentGovernment 2.TaxTax 3.ManagementManagement 4.PublicPublic