Accounting is an integral part of the financial profession. It is also an important part of all accounting systems. The main purpose of accounting and its main function is the systematic compilation and accounting of financial transactions.
Generally, accounting refers to the process of measuring, recording and identifying important economic information that is used in relation to an organization or other commercial and non-profit enterprise so that users of the information can make informed judgments.
The Purpose of Effective Accounting
Accounting helps to prepare financial statements and financial data in general. It covers the accounting aspect; therefore, accounting principles can also be applied to accounting. Often information related to the financial position of a company is presented in the balance sheet, and information on the results of operations is displayed in the income statement. In addition, some data related to a company’s liquidity and changes in the company’s financial structure are usually reviewed in the statement of changes in financial position. Financial statements are necessary to provide information about the past performance of a company, which allows you to predict what may happen to that company in the future.
All financial data of the company are provided for accounting. These can be payroll records, reports, as well as special journals such as a sales journal or a purchase journal, a cash register, bank checks and invoices, where each recorded information or, as it is called, a transaction is identified in two aspects, or dimensions – debit and credit aspects.
Accountants, accountants and accounting associations
Usually a special person is responsible for accounting in a company. His profession can be called an accountant or accountant. The accountant prepares certain adjustments for the recognition of events that are considered to have already completed transactions related to income, expenses, employee salaries, etc. of the Company.
The position of an accountant requires a person to be able to prepare financial documents and reports, payroll records including taxes and payments, process invoices for payment, and support day-to-day banking activities and help with bank reconciliations, working in the main system area Dual accounting was invented over five hundred years ago by a Cistercian monk named Luca Pacioli. All accountants must have basic accounting skills to be able to work in this professional field.
There are specialized accounting associations that aim to provide support and standards for those working in the accounting field. There are several professional organizations in the United States that support, develop, and provide information on accounting standards, such as the National Association of Accountants, the National Association of Certified Public Accountants, the American Institute of Professional Accountants, and the Institute of Certified Public Accountants. (ICB). ICB has over 20 years of professional history. It was founded with the aim of raising accounting standards around the world.
US Accounting Certification
In the United States, being a Certified Public Accountant means holding an accounting certificate, being a member of the Association of Accountants, providing accounting services at a significant level for a period exceeding 2 years, and having a proven level of accounting knowledge.
According to the ICB, accountants are responsible for recognizing what a business is doing and ensuring that the client is billed, invoiced, and then recorded and paid. Accountants are responsible for: keeping track of all ways a company is spending money, registering cash records, monitoring the company’s ordering system, receiving, checking, schedule / note for paying vendor invoices, paying company vendors and registering payments, paying employees and recording payment and payroll obligations … http://www.confiduss.com/en/info/blog/article/usa-bookkeeping/