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Accounting is the foundation of all business. An accountant provides information that is used by management in decision making. In addition, the image of a company is defined by its financial statements. Investors and managers are kept informed by the work product of the accountant when they decide on things like expansion and/or acquisition. A company’s financial statements are examined by banks when they make decisions on lending capital. Accounting is an ancient skill. In the area of the Tigris and Euphrates Rivers, (present day Iraq), archaeologists have discovered cuneiform tablets that served as accounting tools.
Accountants are responsible for activities other than bookkeeping. An accountant may be an essential member of a team deliberating efficacy of mergers and acquisitions, may investigate and implement tax strategies, assist in setting up health care benefit programs, calculate costs and benefits of new technologies and track the financial progress of the company. They are responsible for reports to stockholders.
At a lower accounting level, there is the bookkeeper, who maintains day-to-day records in an office environment. The bookkeeper keeps track of money coming in, money paid out, payroll, tax information, bank statements, company ledgers, company assets and documents like real estate deeds and investment records.
When an outside agency assists in the accounting function it is usually for the purpose of auditing. An accountant inspects the company’s books for accuracy, and examines documents like bank statement to see if they back up the figures in the ledgers. When figures do not match, it is the auditor’s responsibility to discover the reason for the discrepancy. Internal auditors evaluate their company’s financial statements and guard against waste, fraud and inefficiency.
DISCLAIMER: The materials contained on this web site are provided for information only and do not constitute accounting advice. Contact with this web site does not establish an accountant-client relationship.
Pittsburgh Accounting Headlines
RIDGELAND a ' GranthamPoole CPAs has been selected as an Intuit Solution Provider by Intuit Inc., the maker of QuickBooks.
Paul Murdock was named director of consulting and professional services for the U.S. securities market within Wolters Kluwer Financial Services ' enterprise risk compliance business.
Metro Writer Race dominated Wednesday's council meeting when opposition parties tore into the city's Integrated Rapid Transit project in a heated debate saying the project's first phase was unconstitutional as it would benefit those already privileged.
The Indian film biz is set to grow by 12.4% a year to reach Rupees 170.5 billion by 2014 from $2 billion in 2009, according to a report released by PricewaterhouseCoopers.
Jackson Hewitt Tax Services is offering a free, mid-year tax checkup to help taxpayers make sure they're on the right course.
Al khaliji expects due diligence on International Bank of Qatar to be completed in eight weeks, according to its top official.
H&R Block has confirmed hiring Publicis Groupe's Fallon in Minneapolis as its lead creative agency.
Arriva headed the Journal Top 200 list of the biggest companies in the North East by turnover for the second year running.
China's investment opportunity index ranks first among 27 emerging economies, according to a report released by Grant Thornton LLP, a well-known accounting firm.
Use libferris, XML and XSLT to create virtual filesystems and virtual documents.
Bruce Rohde, former chairman and chief executive of ConAgra Foods Inc., has been named a director at H&R Block.
John Finn loves accounting so much that he co-wrote a song about it for his band, Pispoure, in which he plays bass guitar when not busy with his main gig: running a small accounting firm and software company for the television and film industry.
While Democrat Jack Conway's campaign finance report has names like former Disney chief Michael Eisner and television talk show host Maury Povich, Republican Rand Paul's has names like Pittsburgh teacher David DiFilippo.
A new report says total spending on online advertising in Ireland last year was €97.2m. The report was carried out by PricewaterhouseCoopers on behalf of IAB Ireland, the trade body for the online advertising industry.
Just about every comic book ever drawn is in consideration for a big-screen adaptation these days.
Alcatel-Lucent today announced that Bouygues Telecom of France has selected the Alcatel-Lucent IP/MPLS-based mobile backhaul solution to flexibly support the anticipated smartphone data deluge.
While leaders articulate a company's ethical values, they are not measured and are often undermined by their own leadership teams' behaviors, PwC survey finds By Editorial Staff New York - July 26, 2010 - Setting the right ethical tone from the top is viewed as an increasingly important leadership skill that can make or break relationships with ...
The Fiji Times newspaper which is 100 percent owned by News Limited has two months from tomorrow to sell 90 percent of its shares to locals, and Fijivillage has received information that a number of local investors have shown interest in acquiring the shares.
OpenOffice.org 3.2.1 was released on June 4 and a new master workspace was branched off for the upcoming 3.3 on June 5. The code in this branch will be stabilized and later become the product release that will find its way onto your desktops.
California-based giant Intuit 's $91 million purchase of software firm Medfusion has generated a new name for the Cary operation, where the company is looking to fill 20 open positions.
