We'll talk in this video about what do accountants do and tasks performed by the accountant, Watch next video:-
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Showing posts with label what do accountants do. Show all posts
Showing posts with label what do accountants do. Show all posts
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.
Learn what do accountants do?
We'll talk about what do accountants do and tasks performed by the accountant, but
before we talk about them, we have to talk about "Accounting".
Accounting is as same as any other career, It's such as medicine and Engineering, It has its role.
before we talk about them, we have to talk about "Accounting".
Accounting is as same as any other career, It's such as medicine and Engineering, It has its role.
what do accountants do? Or tasks accountants.
-Coordinating with the outsider auditors, facilitating their task for checking and preparing the general budget of the mother company, and the budget of the unified group as well.
-Studying the positions of subordinate companies according to the manager's request and under the power of the mother company to:
Evaluate its financial position. *
Discuss any suggestions related to long-term loans. *
*Giving the recommendations to the general manager.
-Keeping touch with the financial foundations and banks to assure the needed finance to the mother or subordinate companies to support their process and financial positions.
-Presenting suggestions related to managing and transporting money between the subordinate companies" as needed" to:
*Develop co-operation between them.
*Present these recommendations to the general manager to.
discuss with the administration council
*Follow the needed procedures to perform them.
-Taking part in the discussions of sessions and committees that are being held and related to the suggested projects financing methods, coordinating with the other companies that are common in these projects, and agreeing on the details of the contribution, and the system of paying the stocks value.
-The permanent coordination with the company's insider and outsider auditors, discussing them about the followed accounting procedures, and answering any enquiry about accounting, stable documents, or the followed politics in recording different accounting process.
-Sharing the head of the central accounting department in doing processes that collect and unify both the mother and the subordinate company's accounts, preparing reports, and giving them to the manager of the financial affairs to revise and approve them.
-Meeting the other departments' chiefs in the financial affairs circle in order to discuss the coordination and co-operation to develop the planning efficiency and the financial observation on every level of the company.
LEARN THE ACCOUNTING CAREER AND WHAT DO ACCOUNTANTS DO
we will talk about the Accounting Career and Simplify the definition what do accountants do.
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| LEARN THE ACCOUNTING CAREER AND WHAT DO ACCOUNTANTS DO |
•Accounting Career:
Accounting is as same as any other career .It's such as medicine and Engineering. It has its role, position, and importance to the developed societies. There are many specialized studies at universities which have held to teach its assets and roles. Moreover, many international, social, and professional associations have established for it. They held rehabilitation exams for its membership; they are keen on developing the efficiency level, practice, and the professional behavior between its members. They also work on keeping their independence, practicing the professional supervision on them, and doing whatever they can do to develop and protect the professional reputation either it's related to the professional practice, the service in industry area, trading, or the public service.
•Features of the accounting profession for other professions:
Accounting, whatever it's similar to other careers in the importance of the role it does in the society, is different from any other career; whence its assets and roles. Accounting is a science idiom whose purpose is measuring the financial position, and the process' results for the economical activity. The simplest expression for accounting nature may be the thing which is mentioned in the report of the accounts consultative and if the financial data is fairly appeared the financial position of the institution, and its works' results according to the acceptable accounting assets. We can't absolutely judge this fairly image in accountants and consultatives ' custom, but we can in the acceptable accounting assets outline.
•Accounting development:
The expression of acceptable accounting expression is a famous technical term. Its significance includes all the accepted terms in the accounting science in a specific time. These accounting principles have gradually collected to handle the renewable transactions. From a very short time, the experience, habit, and scientific necessity were deciding the transaction type for the appearing problems. The reason why it was so famous was adopting companies and foundations to it, whatever it was dissociable adopting. If some foundations followed a method, and other foundation followed another method to the same problem, both methods would become famous and accepted in what appears in accounting transactions. In this topic, we'll brevity handle the international and regional bodies whose purpose is clarifying the concept of challenges that face the accounting career.
•Simplify the definition what do accountants do:
what do accountants do recording and tabulation of inputs and processes that represent the economic events according to a particular system, the financial information used mainly by managers, investors, tax authorities and other decision makers, with the aim of distribution of resources within the institutions and companies, organizations or government. Accounting name was derived from the use of the word Financial account.
