Accounting Theory and Practice

Accounting is a very important profession that is needed in a number of different situations. In order to be professional and accurate at accounting it is essential that an individual first obtain the proper training and skills to practice the subject. As an accountant the role of the individual is to handle the financial records of a person or of a business. The duties are various and can include auditing, preparing financial statements, billing and invoicing of customers, controlling the tax records, filing taxes and more. If an accountant fails to satisfactorily perform their duties it is possible for the business of individual employing them to sue in a court of law.

Accounting Changes over the Years

The field of accounting has made many changes throughout the years. The changes have come as the result of trends and changes in the world. There have also been changes made in response to the technology that has been brought to the world, particularly computers. Government regulations and tax law changes have also impacted the changes saw in accounting throughout the past couple of decades.

The Demand for Accountants

There is a great demand for accountants in today’s society despite the great technology that has been brought to the world. No longer are accountants given a shady image. They are looked at as the experts in finances that they truly are. Many people refer to accounting as the language of business as it is so vital to the success of a business. Those who work in the field must ensure they are accurate in their reporting’s and in their findings and must be trained to ensure this happens. Accountants have very important jobs in the workforce. They must go above and beyond to ensure that they are filling their duties as they should be.

Conclusion

Accountants are very important in the work force. They handle all of the financial transitions of the company or individual, small and large needs alike, the roles of the accountant have changed greatly over the years but the fact still remains that an accountant is a much needed person who has so much to offer. Accountants are able to handle a number of different duties in the workplace which makes their services so beneficial to so many people. Accounting rules have changed and improved over the years, even with the technology that has been made available and accounts are still very important to society.