Why you want to be an accountant
Why you want to be an accountant?
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The stereotypical answer to this matter is that accountancy provides a respected professional qualification that can lead on to a broad range of opportunities in industry. This is all factual, however it does not answer the question of why you want to become an accountant - and when you give as common an answer as this, you can expect to be questioned in aspect on the nature of the requirement and the prospects you see it leading to.
A lot of the income of the bigger accountancy firms now comes from consultancy and associated services instead of from audit. Even in audit you will use much of your time visiting clients and ask questions, for this, good interpersonal skills are very important.
Accountancy is now a rapid changing profession, therefore they are looking for individuals with inventiveness who can administer change.
Liability of partners: A) Under contract law: Liability is joint only (collectively); The creditor has only one right of action (except in NSW, where liability is now joint and several).
1) Dissolution ENDS the partnership. a) Action of the parties: • By the expiration of a fixed term;• If entered
Profit or Loss (P&L) Analysis: A financial statement which summarizes the revenues, costs and expenses acquired during a particular period of time - in general a fiscal quarter or year. Such records give information which exhibits the capability o
What are the key qualities or characteristics which accounting information should possess?
State some contents of a partnership deed. Answer: A) Name of the firm.B) Name and complete address of the Partners.C) The date of formation and period of Partnership.D) Ratio in which gain or loss
Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
1. HulaHug Corp., which manufactures hula hoops, currently has two product lines, the Roundabout and the Sassafras. HulaHug has total overhead of $124,478. HulaHug has identified the following information about its overhead activity pools and the two
What do you mean by the term reaping the benefits of IT? Explain n brief?
Outputs: Any product or service formed from the consumption of resources. This can comprise information or paper work produced by the completion of the tasks of an activity.
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