Introductory Accounting

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Accounting is the practice of recording financial transactions of businesses.  Accountants often have jobs pertaining to financial oversight and other aspects of companies.  In these jobs, accountants usually report financial transactions to larger entities such as tax collection agencies or companies.  Accountants can do basic accounting services, but for more complex services, some accountants may need qualifications such as being a Certified Public Accountant.  In addition, some jobs for accountants may be in forensics and tracking down stolen capital.  Lastly, accounting is a practice and job of much importance that is widely desired by many businesses and governments. 

Many different forms of accounting exist, and they have many different purposes.  The first main type of accounting is financial accounting in which accountants generate financial statements for reporting purposes.  Management accounting is a practice in which accountants generate a financial statement by which a management team can make decision off the statement.  Cost accounting is a type of accounting in which a company uses financial statements to make decisions about costing.  Lastly, double entry accounting is a practice in which an accountant balances financial entries. 

I learned this information from a website.  The information was very helpful, and I used these resources to better inform myself on the profession of accounting.  In addition, the website had very clear and concise formatting that helped me absorb the information better.  Also, even though I already had some preconceptions about the field of accounting, I learned new things that helped me better understand the field.  In general, I thought the website was a good learning tool, and it helped me obtain more knowledge of the field of accounting.

In conclusion, accounting is a useful profession that involves many different business aspects, but it focuses on reporting financial statements.  Also, accounting can be used in many ways ranging from a bookkeeper to a forensic analyst.  In addition, the profession of accounting does still have a universal concept of creating financial statements that is in accounting jobs.  Financial statements are used for reporting, and they can be used for decision making.  These financial statements are ways that an accountant can condense many financial transactions into small and formatted documents.  In general, I would say that accounting is a profession that is needed and is of great importance.

Thank you,

Austin Bechtel

Bibliography

"Accounting."  Investopedia, http://www.investopedia.com/terms/a/accounting.asp.