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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

RSM McGladrey scouting downtown office towers for new space

RSM McGladrey Inc. , considered the largest accounting firm in the Baltimore area, is shopping around downtown for new offices.



PwC: rotten to the core or just plain stupid?

I hope that my good friend Vinnie Mirchandani doesn't take offense to the title of this post.



Virginia Tech tools up with MathWorks

The MathWorks and Virginia Tech College of Engineering have signed a new three-year agreement for The MathWorks to provide resources and support for the continued use and development of course components that utilize MathWorks tools.



Ward Parkway Mansion On Auction Block

The former home of H&R Block co-founder Richard Bloch will be sold at auction on Thursday.



Audit raises spectre of massive mint heist

An unprecedented audit of the Royal Canadian Mint has failed to find $15.3 million in missing gold and suggests it could have been stolen in what would be the greatest gold theft in Canadian history.



Dewan Rakyat: Distribution of PKFZ pamphlets causes stir in Parliament

The Port Klang Free Zone issue caused a stir again in the Dewan Rakyat moments after session started today.



Stocks to Watch: Stocks in focus for Tuesday

Among the companies whose shares are expected to see active trade in Tuesday's session are Sealy Corp., H&R Block Inc., and Amazon.com Inc.



OpenOffice: Find Your Perfect Office Suite

A chameleon: That's what I think of when I ponder the myriad variations on the OpenOffice.org theme that have cropped up in recent years.



UK financial sector sentiment improves

BULLISH: The happier mood has been reflected in expectations that sales will rise, with a balance of 11 firms predicting stronger business volumes in coming months REUTERS , LONDON Tuesday, Jun 30, 2009, Page 10 Britain s financial service companies are more optimistic than at any time in the last two years, although banks remain downbeat about ...



'Considerably' more leaky homes likely - Williamson

The exact number of leaky homes is unknown, but it is likely to be significantly higher than the current 22,000 estimate.



Keydata investors told: your money is at risk

More than 37,000 investors holdings Isas sold by Keydata Investment Services now in administration will be forced to pay tax on non-compliant investments, despite previous assurances from HM Revenue & Customs that tax would be recovered from the company.



SoftMaker Office Bests OpenOffice.org as the Better Office Alternative

In the kingdom of business productivity, Microsoft Office reigns supreme. Its dominating position atop the word processing, spreadsheet, and presentations heap seems virtually unassailable.



Labour overpaid for KiwiRail - Joyce

The final valuation of KiwiRail was $369 million - more than half the price the Government paid for it.



Cincinnati's Jackson Rolfes to merge with Plante & Moran firm

One of Cincinnati's largest independent accounting firms, Jackson, Rolfes, Spurgeon & Co.



H&R Block reports strong fourth-quarter profit on higher bank income, tax prep fees

H&R Block Inc., the nation's largest tax preparer, reported better-than-expected profit for its fiscal fourth quarter on Monday as higher fees and more consumer financial services income offset a decline in the number of tax returns it prepared.



Real gold gone from Mint, report finds

Photograph by: Pat McGrath, The Ottawa Citizen OTTAWA - There may have been a massive gold heist at the Royal Canadian Mint, an external audit has found.



Futures flat on Madoff

Mon Jun 29, 2009 6:40am EDT - Accused swindler Bernard Madoff enters the Manhattan federal court house in New York, March 12, 2009.



'Threat' to final-salary pensions

A total of 55 firms who responded to a survey intend to freeze their final-salary pension scheme for existing members within the next five years.



Eastern Canada's sawmills hit hardest

Eastern Canada's softwood sawmills saw earnings drop off the most in the world during 2008 and the first quarter of this year as the global industry posted among the biggest losses in history, a report released Tuesday says.



Stocks To Watch For Monday

Among the companies whose shares are expected to see active trade in Monday's session are Apollo Group Inc., H&R Block Inc., and Amazon.com Inc.