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What is Accounting All About?

What is Accounting All About?

• "Accounting is known as the language of business. The major prepares you to gather, record, analyze, interpret, and communicate financial information about an individual’s or an organization’s performance and risks. You study such topics as financial statement preparation and analysis, risk assessment and control, management decision-making, tax preparation and planning, management of accounting information systems, auditing, and fraud."

- College Board Book of Majors, 2nd edition

• "To be successful in accounting, you’ll of course need a firm understanding of accounting procedures and solid analytical skills. Because the industry is becoming increasingly technological in nature, computer skills are a must. In addition, because you’ll most likely start your career in accounting as a junior member of a team, you should understand how to work effectively with others. Finally, be aware of recent trends that show accountants broadening their skill sets to include legal knowledge, sales abilities, and foreign-language skills."

- What Can You Do with a Major in Business? By Kate Shoup Welsh, Wiley Publishing, Inc., 2005

• "Accountants and auditors help to ensure that the Nation’s firms are run efficiently, its public records kept accurately, and its taxes paid properly and on time. They analyze and communicate financial information for various entities such as companies, individual clients, and government. Beyond carrying out the fundamental tasks of the occupation—preparing, analyzing, and verifying financial documents in order to provide information to clients—many accountants also offer budget analysis, financial and investment planning, information technology consulting, and limited legal services."

- Bureau of Labor Statistics

• "Accounting is the art of recording, summarizing, reporting, and analyzing financial transactions. An accounting system can be a simple, utilitarian check register, or, as with Microsoft Office Accounting, it can be a complete record of all the activities of a business, providing details of every aspect of the business, allowing the analysis of business trends, and providing insight into future prospects."

- Stan Snyder, CPA and expert bean counter, Microsoft Corporation

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