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What do accountants do and the relationship between the types of accounting
We talked in detail about what do accountants do, and now we are going to talk about the relationship between the types of accounting.
First, we make financial accounting by inserting the inputs to reach the final results which are the financial reports which show the company's financial position, company's business results, cash checking, and some simplifications that complete these financial lists which determine the company's financial position, its tasks, and performance.
During and after making accounting,account or checking is made and this is made for the task by checking samples and some comparisons just to know the credibility of the account outcome data and the extent and how it is identical to the acceptable accounting principles and standards. we do this to make the final reports showing the institution real position and the revising institution will be an outside part of the company. This won't prevent the presence of an inside auditor to avoid mistakes, but only the outside audition for the checking office will sign the final accepted financial lists after making sure that these lists are fair, correct, and showing the real position of the institution.
During making the financial accounting, some companies face necessity in determining a certain product cost or determining the different departments cost to the institution by using cost accounting. Cost accounting determines the product cost or the different departments cost inside the financial accounting work . It also evaluates the cost, determining the deviation for the product, standard costs, or the management expected costs.
when making the final output of the accounting work and determining the income and the expenses to reach the profit, we determine the tax base, exceptions, etc to get the value we should pay for taxes, and this is tax accounting task. After adopting the outside audit office with auditing the financial data, and adopting with the accepted accounting principles. Taxes are going to be converted to the governmental institutions. Some times, there are auditor for these institutions to audit the content and mistakes.
management accounting are found in some companies and it's rare in the Arab world. this kind takes the accounting information and the input, then it adds analysis and perceptions for the future it also puts investment plans, how to start a good plans, trying a feasibility study for the storage, product,and the presented service. All these are supposed to be modified,but the point is how the modification will be new and add to the company.
During making the financial accounting, some companies face necessity in determining a certain product cost or determining the different departments cost to the institution by using cost accounting. Cost accounting determines the product cost or the different departments cost inside the financial accounting work . It also evaluates the cost, determining the deviation for the product, standard costs, or the management expected costs.
when making the final output of the accounting work and determining the income and the expenses to reach the profit, we determine the tax base, exceptions, etc to get the value we should pay for taxes, and this is tax accounting task. After adopting the outside audit office with auditing the financial data, and adopting with the accepted accounting principles. Taxes are going to be converted to the governmental institutions. Some times, there are auditor for these institutions to audit the content and mistakes.
management accounting are found in some companies and it's rare in the Arab world. this kind takes the accounting information and the input, then it adds analysis and perceptions for the future it also puts investment plans, how to start a good plans, trying a feasibility study for the storage, product,and the presented service. All these are supposed to be modified,but the point is how the modification will be new and add to the company.
what do accountants do in cost accounting
Cost accounting consists of two main parts: fixed costs and variable costs. Fixed costs do not depend on the manufacturing activity while variable costs depend on the number of units produced.There are two main types of cost accounting: job order costing, where each item produced is broken down as a single job and all costs are tracked per job, and process costing, where items produced are broken down by process and each job has costs allocated by process.
•Measurement of efficiency: Cost accounting measures the efficiency of each product, process or departments by applying standard cost method.Cost control procedure: Cost accounting controls cost by setting standards and compared with the actual. The deviation between them are identified and if required necessary controlling measures may be taken.
•Analysis:
-Conduct ongoing process constraint analyses.
-Report on breakeven points by products, work centers, and factories.
•Analysis:
-Conduct ongoing process constraint analyses.
-Report on breakeven points by products, work centers, and factories.
-Report on margins by product and division.
-Report on periodic variances and their causes, focusing in particular on spending
-Report on periodic variances and their causes, focusing in particular on spending
variances.
-Analyze capital budgeting requests.
-Perform cost accumulation tasks as a member of the target costing group.
-Perform cost accumulation tasks as a member of the target costing group.
•study the cost of conducting business. It helps to determine what type and how much expense will be involved in keeping the businesses current model or strategies. It can also be used to determine changes to be made if needed.
•We talked in detail about what do accountants do
what do accountants do in Management Accounting
We talked in detail about what do accountants do, and now we are going to talk about what do accountants do in management accounting.
Planning:
It is intended to planning procedures and steps to be taken to set goals and develop appropriate programs for various resources and use them to achieve these goals, the accountant and the administrative task of collecting data that will help in the management and planning function.
Organization:
Regulation is intended to identify the best methods and procedures and the means by which the organization of the various resources available and the possible implementation of the plans.
Control:
Means the procedures for measuring and correcting actual performance to ensure the achievement of the objectives and plans of the facility , in the sense to make sure that the actual implementation matches the plans , and make decisions necessary corrective in the case of deviations from plans . And shows the role of management accounting in providing information that helps management performance and oversight function.
Decision-making:
Concerned with the decision-making function to choose a suitable alternative from different alternatives in order to achieve the goals set by management. The management accounting to provide information that helps management trade-off between the available alternatives and determine the best alternative for the facilityAnd it could be classified information provided by the management accounting system to assist management in decision-making wise, and the purposes served by the information in the following:
1- Information to measure the performance of the administrative units of the facility, as well as its members, and is achieved by means of recording and tabulation data actively each administrative unit or individual, whether actual or estimated data.
2- Information to alert the administration of the deviations from the plans , such as reports of exceptions : in order to take the necessary corrective decisions.
3- Information to resolve the administrative problems of a private nature , and it needs to analyze the particular fits every problem. We 'll see-to make it happen-we will follow the principle of " different costs for different purposes ," which we'll cataloging and analyzing the costs feignest ways to conform with the necessary solutions to solve the problems of the various administrative.
