Degrees
Why You Should Get an Accounting Degree?
Accounting is a profession that can be self-taught; however, a degree in accounting is essential to long-term success. Some people are simply naturally gifted with numbers; whereas, others must work hard to become skilled in the art of mathematics. Either way, accounting degrees are critical to learning the intricacies required to follow accounting practices to the letter of the law. These courses and degrees will also help to pass your state and national exams far more easily. Also, keep in mind that the higher the degree you complete the more money it will be possible to make.
It is important to note that highly trained professors from accredited colleges and universities are the best resources to minimize the risk of errors that can cost businesses thousands or millions of dollars and to keep you from making those errors and facing fines and the loss of your license. The government takes accounting practices incredibly seriously and so should you. Throughout your coursework, you will learn a variety of accounting skills that will help make you more employable in the long term that are quite difficult to learn on your own. These will also prepare you for credentialing tests that you would not have the opportunity to sit for if you don’t earn a degree from an accredited program.
If you’re interested in getting your degree online, here’s what you need to know. You need to know yourself. You must, must, must own a computer. Having a computer available at the local library will not work. A laptop is ideal, since you can take it anywhere – even to a café or to your local McDonald’s. You should also have Internet – steady wifi access won’t work. You should also have these things before you attempt normal college, but you must have them before you attempt an online school.
People who go to school-full time should be able to dedicate an average of forty hours a week to their classes and this includes full-time classes. However, the benefit of going to an online school is that you do not have to sit still through class. People often like going to school online because they are able to get it done easily and on their own time-table. For example, if you learn best at one o’clock in the morning, you can do so with an online degree. You can learn at your own pace in a classroom as well , but it’s much easier to learn at your own pace in an online class. You can also excel ahead in an online class.
Certifications and Degree Options!
If you’re brand new to the field, a certificate in accounting might be a good starting point. You don’t need any prior certification to start working toward a college degree. However, for those who are in school part-time and looking for relevant work experience to keep them financially afloat along the way, a certificate in accounting can be a valuable asset. It can also be helpful for business owners who lack a background in accounting but want the knowledge to manage their own finances legally and properly.
Accounting certification typically consists of a series of lower level classes designed to get your feet wet in the industry. You’ll learn about basic bookkeeping and receive an introduction to the fundamentals of accounting. It won’t be enough for a full-fledged career, but it can be helpful to have under your belt.
Accounting Certificates Available:
It is possible to complete a certificate in accounting to begin basic, entry-level accounting jobs. Other certificates are available as post-graduate certificates for those who have already completed higher level degrees. You can find these entry-level, one-year accounting certificates at for-profit colleges and universities, community colleges and technical schools.
Certificate in Accounting - An accounting certificate prepares high school graduates with general, entry-level accounting skills. This certificate will typically cover a wide variety of accounting topics rather than one specific focus.
Bookkeeping Certificate - A bookkeeping certificate focuses on basic bookkeeping skills that are ideal for small businesses, such as statistical reports, financial data, spreadsheets, and data entry.
Accounting Clerk Certificate - An accounting clerk certificate places emphasis on accounting records and financial statements, including accounts payables and receivables, and payroll.
Payroll Accounting Certificate - A payroll accounting certificate allows students to apply for entry-level payroll jobs with an in-depth knowledge of state and federal payroll taxes, benefits, garnishments, stock options, and pension plans.
An associate’s degree is a two-year degree that can get you started on the road to an accounting career. Associate’s degrees are generally offered at traditional four-year universities, community colleges, technical colleges, and online schools. If you can get a bachelor’s degree at an institution, you may be able to get an associate’s degree there as well. When you sign up for an associate’s degree, you’ll have some flexibility in how you want to go about achieving it. Most schools give students the option of completing their degree in an accelerated one-year program, a traditional two-year program, or a longer, more flexible part-time arrangement.
Associate’s programs generally require about 60 semester hours of class work. Required courses can vary based on the school and program but may include any combination of core classes and lower level accounting classes.
For those who are seeking a more traditional BS degree in accounting, a bachelor’s degree is a good place to begin. A bachelor’s in accounting requires students to take at least 120 semester hours of class work. This generally consists of a core group of well-rounded topics, including English, history, social sciences, and electives. Students are also required to take a group of business core classes along with their general education requirement, which includes classes like lower level accounting and business courses.
Along with their general education and business requirements, students who are earning a bachelor’s degree in accounting must take the course load that comes with the major. These classes include advanced accounting courses, as well as courses where students get a more in-depth look at taxation, auditing, information systems, and ethics.
If you’re looking at a master's in accounting as a lucrative career path, you’ll probably end up with a master’s degree at the end of your journey. Students who want to pursue a master’s degree in accounting generally must have already completed a bachelor’s degree, which doesn’t necessarily have to be in accounting. However, to make sure you possess at least a fundamental understanding of the subject, your school may require you to take supplemental accounting courses prior to master’s enrollment.
Before enrollment, you may have to take a GMAT or GRE exam. These are standardized tests that most business students are required to take before they’re admitted into a graduate degree program. Master’s degree candidates may also be required to submit letters of reference, and undergraduate university transcripts.
How to hire a CPA?
Following is a list of things you need to keep in mind while selecting a CPA.
Is your CPA familiar with your industry and its accounting standards? Ideally, she should have experience working with clients in a business like yours.
Does your CPA have good relationships with banks? If you are a growing business, your CPA may be able to help you secure funding.
Does your CPA have relationships with attorneys? Any business can fall on hard times. Your CPA may be able to help you find an attorney to negotiate with your creditors.
How involved is the CPA going to be with your company? If most of the work is handled by junior staff, make sure they are well supervised.
How much interaction will you have with your CPA? If the meetings are much spaced out, how much attention will the CPA pay to your company in the interim?
Does your CPA firm guarantee its work?
Has your CPA passed the exams to gain the CPA designation? Does she have the license to practice in your state?
Is your CPA a member of professional organizations that ensure that their members follow a professional code of ethics and are regularly reviewed for quality? Every country has such professional organizations. For example in the US one such organization is American Institute of CPAs (AICPA).
Is it important for you to have regular face to face meetings with your CPA? If not then you may also consider a non local CPA. There are many firms that operate nationwide accounting services and may assign a non-local CPA to you.
Have you checked the references and made sure they are happy with the service?
Why Businesses Only Hire a Professional Accountant?
Keeping track of business transaction is very vital for every business that helps to know how business is performing. The financial state of the business can be known by these correctly and accurately saved records. Getting a professional small business accountant can help you to stay on track with your business available finances, cash and resources also while foreseeing potential financial risks. Running a successful small business requires making smart decisions. The budget must be prepared to know how much cash and resources are available to the business.
Hiring a professional accountant keeps you on track with all of your payments, business expenses, bookkeeping, and financial development. An expert accountant is one handles all the financial risk because it eliminates the possibility of errors occurring. There can be errors and frauds occurred in recording the business transactions. Accounting records are essential in any small business. It is recommended to record the sales, purchases, and daily expenses, to keep track of all financial events that occur within your business. Having the personal accountants allows you to have a detailed record of all financial transactions that take place, and check how much cash is going in and out of business.
The tax season comes with a lot of work and verification of accounts to calculate the right amount of tax. Tax forms can be tedious and often times confusing if the records and books are not well maintained and updated. Many companies offer Tax Returns Services for preparing tax documents and return your payable tax from the government. Having personal accountants can help make sure that all of your files and records are in correct order, the correct paperwork gets filed, and that you are not behind to file late tax to the government.
In addition to doing your taxes for you, professional accountants can guide you and give advice on any tax-related issues or decisions. The governmental policies are always changing and expert advice can be helpful to prevent from getting penalized. When you have an expert focusing on your accounting and financial needs , you can focus on the business expansion opportunities and can reduce the errors or frauds. Having an accountant's ultimately helps you continue to run things smoothly and avoid any major financial crises. The accountant's well in advance prepares a budget to know the financial risk and where the money will fall short. Many companies provides Accounting Services to handle your money related transactions.
The expert accountants acts as an adviser and performs business reviews to provide information that will be important for key financial reports that your company will rely upon to make other important business decisions. How much profit or loss can be earned in the future can be decided and plans can be made. The expertise of a professional accountants can be used in preparing business proposals and plans that will grow the business. The accountants could provide useful suggestions from evaluation calculations and by setting income targets grounded upon your particular fiscal situation and business organization targets.
What are the Types of Accounting Courses?
This article will mainly provide you with information on the different types of certified courses you can choose from when deciding to become an accounting professional. The direction that you decide to take is completely up to you and will allow you to practice more functions. Please note that the further you go with your studies the more skilled you will be and in turn the more work will be available to you. Whether you decide to be an independent contractor or establish yourself with one company you can decide to study further or just practice the studies that you have completed. Below are some of the different types of courses you can complete to start practicing.
Registered Tax Practitioner
Tax season occurs every year and for this reason there is always a huge demand for tax practitioners. Completing individual or business taxes is quite an intricate process and for that reason industries and individuals prefer to have a licensed practitioner complete their taxes annually. This type of practice will require you to be registered as a tax practitioner with your national tax governing body. Certified Technical Financial Accountant
When obtaining this diploma you will have full accountancy rights, in other words your main duties will involve handling the accountancy side of Closed Corporations or individuals that require your services. You will most probably be employed as an Accounting Officer, this direction of study will include various software packages and more detail on income and expenditure, balancing financial statements and just about everything in relation to accounting. This is also a Certified Diploma.
Certified Financial Accountant
This course includes just about everything mentioned above. You will be certified to handle tax functionality, cost and management accounting, payroll and full accounting control. This diploma is meant for those individuals that are looking at a more advanced career in the accounting field , you will be learning a lot about all the functions and processes in your field and you would be in very high demand thanks to your knowledge and qualification. This is once again a Certified Diploma.
What are the Benefits of Auditing Accounts?
Auditing is a vital part of running any business. It motivates to strengthen the financial health and ensure its growth. Many companies hire Accountant that looks after auditing of your accounts. It keeps away fraud and theft and manages accuracy of accounts.
Auditing your accounting keeps your alert about the expenses and income of business. It depicts how cash flows in and out of business. Nowadays, all organization including business, social, industries and trading organizations make an audit of books of accounts to know accuracy and profit. The government has imposed to keep all your accounts, records updated for future verification.
Audit helps to identify weaknesses in the accounting systems which helps to work to increase performance and profit margin. It keeps the account department alert and informed about the day-to-day transactions of the business. It keeps the business running smoothly according to the information they are receiving, and helps reduce the scope for fraud, theft and poor accounting. Gives surety to shareholders all figures are true and trustworthy. Advice and guidance can be taken from expert firms in Brisbane that provides Accounting Services that depicts the running of the business and keeps an eye on changing market trends.
Benefits of Auditing Are:
Audit of Accounts Helps to Detect and Prevent Errors and Frauds:
If accounts are audited regularly, then frauds and errors caused in cash flow in and out can be detected and prevented.
Audits Maintains Account Regularly:
If good accounts are hired then he takes care of all accounts and records to keep the data safe and secured. Timely updating of records is must to maintain credibility in business.
Audit Helps to Get a Loan:
If the business is running in loss, the auditor can help to obtain money as a loan from the bank. Necessary documents can be produced to take a loan and make business transactions run smoothly.
Audit Helps to Assess Tax:
Tax authorities assess taxes on the basis of profit calculated by the auditor in a particular time span. The sales tax authority calculates sales tax on the basis of sales shown in the audited statement. So keeping statements and accounts accurate manages to pay tax return in time.