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Journal of Accountancy

Journal of Accountancy | Aspect 2 and 3 | Scoop.it
A publication of the American Institute of Certified Public Accountants (AICPA) focusing on the latest news and professional developments related to the field of accounting, updated daily and written for CPAs and other accounting and financial professionals.
Alyssa Quaglieri's insight:

8.)Mobile devices such as iphones and ipads as well as cloud computing are an important topic being discussed in the accounting field. It is important for accountants, but more specifically CPAs, to learn how to use the technology and embrace it.  The use of all these advance devices are increasing in use to help make the job easier and more efficient.


9.)Accountants can look forward to being able to work with better technology in which some of the top experts use.  These new programs will quickly analyze a company’s financial activity.  It gives the accountant as well as the company a visual on how well they are doing and what they need to change about how they are spending their money.


10.) Many people recommend that accounting firms should allow their employees to use their own personal devices such as cell phones for work purposes.  The world is wrapped around all this new technology.  The firm should be updated and allow their employees to work with the technology.  

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The Accounting Degree Review | A Guide to Accounting Degree Programs

Rankings and Reviews of the Best Accounting Degree Programs
Alyssa Quaglieri's insight:

5.) Before technology, work for accountants was very tedious.  First of all, all entries and balance sheets were written by hand.  If a mistake was made, it can be difficult to find the mistake and fix it.  This can cause a lot of unnecessary stress.  When computer programs were starting to be used, there was no need for calculators or pencils.  It made it hard for errors to be made as well.  The job is now getting done faster and productivity is at an all time high.  

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Accounting-CPA Firms-Software Reviews | CPAPracticeAdvisor.com

Accounting-CPA Firms-Software Reviews | CPAPracticeAdvisor.com | Aspect 2 and 3 | Scoop.it
CPA Practice Advisor is the definitive resource for information to tax and accounting professionals in public practice.
Alyssa Quaglieri's insight:

1.)  Accounting has gone through many changes over the years.  Technology has helped make an accountant's job a little bit easier.  It allows them to interpret information more efficiently.  Instead of writing all of the balance sheets out, they can be stored on the computer.  This saves them a lot of time, which will speed up work production.

 

2.) The beginning of the technological advances in the accounting field starts with the invention of the abacus, which was used to keep track of calculations in business. It can date back centuries with several attempts to build adding machines to make it easier on accountants to solve mathematical problems. After the first working adding machine, came the invention of the calculator. The calculator was more accurate than the adding machine and took less time to add up numbers.  These technological advances helped speed up the accountant’s job.  Accountants, however, still had to keep track of the businesses’ functions with paper entry even though the new technology was in place. The process of identifying, measuring, and communicating financial information was documented by columns of numbers and hand written statements. 

 

3.) Towards the end of the twentieth century, the accounting profession began to see even more changes in technology that would benefit them. Computers and accounting software has not only changed the accounting field, but also many other industries. With programs such as Microsoft Excel an accountant now had an electronic spreadsheet, rather than writing it all down on paper. Calculators were no longer needed because it does the math for you right on Excel. The job became less tedious and it reduced the amount of error that could be made if the accountant had to add the numbers by hand or even in the calculator. With a computer at hand, an accountant can now perform statistical accounting  much more efficiently. Accounting technology has eliminated all the number crunching that they hand to do when it was all on paper. 

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California State University, Long Beach

California State University, Long Beach | Aspect 2 and 3 | Scoop.it
CSULB is a large, urban, comprehensive university in the 23-campus California State University system.
Alyssa Quaglieri's insight:

6.) Many people question why accounting is an important job.  It is one of the most important part of a business.  As an accountant, you determine how well a business is doing and if they are spending their money wisely.  Accountants are in high demand and will continue to be in demand.  There will always be money circulating through business and they will need someone to help keep them on track.

 

7.) Women have done very well in this profession.  Over the past few years, the number of women going into the accounting field has nearly doubled.  About 50% of the work force of accounting is made up of women.  

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Free Term Papers, Research Papers, Essays, Book Notes | StudyMode.com

Free Term Papers, Research Papers, Essays, Book Notes | StudyMode.com | Aspect 2 and 3 | Scoop.it
StudyMode offers book notes, free essays, course notes, flashcards and other tools. Millions of students use us to help with their homework assignments.
Alyssa Quaglieri's insight:

6.) Accounting is the way in which the accountant identifies, records and communicates financial transactions in an organization.  The way in which a company's financial information is processed has been done the same way for hundreds of years. Each company had its' own balance sheet and income statement that was hand-written.  With the new developments in computers, there is a way to lessen the work load and saves time.  It is important that the accounting profession must embrace the changes that come along with new technology.  They will need to learn how to use the different computer programs and accept the risk of using computers when they could crash at anytime.  

 

7.) Another new technology that has been recently developed is the  barcoding system. Although barcodes are not a new technology, it has been starting to become more widely used in the industry. Barcoding is used mostly to automate payroll, inventory, receiving, production, and shipping.  All of these are very important for an accountant to complete.

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Global body for professional accountants | Accountancy | ACCA | ACCA Global

Global body for professional accountants | Accountancy | ACCA | ACCA Global | Aspect 2 and 3 | Scoop.it
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants.
Alyssa Quaglieri's insight:

4.) Although technology has made an accountant's job a lot easier, it does have its' downfalls.  Cyber security as well as cybercrime is a major concern for many people.  Some feel that a virus could delete all the files, which would cause a lot of chaos for the company.  Also, people could somehow hack into the account and erase everything or steal the information.  

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Journal of Accountancy

Journal of Accountancy | Aspect 2 and 3 | Scoop.it
A publication of the American Institute of Certified Public Accountants (AICPA) focusing on the latest news and professional developments related to the field of accounting, updated daily and written for CPAs and other accounting and financial professionals.
Alyssa Quaglieri's insight:

8.) Crowdfunding is a great way for a business to make money fast.  It allows a business to take money in small amounts from a large number of people.  The SEC commission keeps investors safe while allowing business to continue to use crowdfunding.

 

9.) Raising money through crowdfunding occurs through artistic endeavors.  This is when small contributions are rewarded as value to a project.  It is an efficient way to make money as quickly as possible.

 

10.) The main job an accountant is responsible for is to make and look over financial records.  These records show how well a business is doing.  If a business is not on track financially, they may be in a lot of trouble.  Having financial records allows a business to see what they could possibly be doing wrong and what needs to be changed.  It is vital for a business to have these records or they could not be running their organization in the best way. 

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U.S. Bureau of Labor Statistics

U.S. Bureau of Labor Statistics | Aspect 2 and 3 | Scoop.it
The Bureau of Labor Statistics is the principal fact-finding agency for the Federal Government in the broad field of labor economics and statistics.
Alyssa Quaglieri's insight:

1.) Accountants, as well as auditors, are specialist.  This depends on what organization you are working for and what positions they have to offer.  Some specialize in assurance services, which is when you improve the quality of information.  Others specialize in risk management.  This means that they figure out the probability of making a mistake.

 

2.) To become an accountant, you need to get at least a bachelor's degree.  Some organizations would like applicants to have a master's degree.  Employees will accept a degree in business administration.  This opens up the opportunity for people to become an accountant.

 

3.) Becoming a CPA is harder than people may realize.  CPA stands for certified public accountant.  To graduate from college, you must pass a national exam as well as meet state requirements in order to be a CPA.  A lot of states require you to finish 150 semester hours, which is 30 more hours than a normal bachelor's degree.  It takes a little bit more work to be a CPA than a regular accountant, but it can be worth it if you are interested in the type of work CPAs do.

 

4.)To be a successful accountant, it is important to have a few specific skills.  Having analytical skills will help you be able to kind issues within documents and help correct them.  Accountants must be able to communicate well with clients, managers, and co-workers. Paying attention to small details can be helpful and very useful.  Accounting involves a lot of numbers, so high level math skills are critical to success in the career.  Finally, organization is very important so that nothing gets lost or misplaced.

 

5.) Public accountants work for a business or for public accounting firms.  Many publicly trader companies require you to be a CPA, so taking the extra steps to become a CPA may help you in the long run.  It will allow people to work numerous places and experience new things.

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