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.
An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape
List the items that might appear on the debit side and credit side of a partner's fluctuating capital account. Answer: On debit side: Drawing, interest on drawing, c
Performance Measurement: A means of computing effectiveness, efficiency, and outcomes. A balanced performance measurement score-card comprises financial and non-financial measures focusing on the quality, cycle-time, and price. The performance measure
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).
Value-Added Activity: An activity which is judged to contribute to customer value or gratify an organizational requirement. The characteristic "value-added" reflects a belief that the activity can’t be removed without decreasing
What are Arrears? And what are the conditions to make Arrears?
Activity: The real work task or step executed in generating and delivering products and services. The aggregation of actions executed within an organization which is helpful for the purpose of activity-based costing.
Investor Relations: A department, exist in most medium to big public companies, which gives investors with a precise account of the company's affairs. This aids investors to make informed sell or buy decisions. Inv
Fixed Cost: The cost which does not differ in the short term with the volume of action. Fixed cost information is helpful for cost savings by regulating existing capacity, or by removing idle facilities. Also termed as Non-Variable Cost or the Constan
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.
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