Accountants: Auditing and Management Accountants Essay

Submitted By qwerty01282012
Words: 619
Pages: 3
Open Document
Management Accountants and Internal Auditors “The three things I like most about my career are the variety of projects that I am involved in, the frequent interaction I have with others in pursuit of a common goal, and the problem-solving nature of my job.” (C. Johnson, Controller) Management accountants and internal auditors are watchdogs of efficiency, effectiveness, and compliance. Management accountants study and interpret business numbers, such as earnings and salaries. While Internal auditors, on the other hand, check that records are accurate and that controls are in place to protect against fraud and waste. | The management accounting section will deal with advanced material related to the area. Studies will involve accounting pricing decisions and performance measurement in general, within organizational structures. This part will also include an examination of the elements of strategic management and the different contributions that have been made. The internal auditing part will overview the foundations of modern internal auditing and the internal control framework. This will include planning and performing internal audits, including effectiveness and benchmarking as well as organizing and managing internal auditor activities.
The type of roles consist of staff accountant, cost accountant, senior internal auditor, tax accountant, controller, director of accounting and CFO. Getting there may take a lot of work; this requires all mid-level requirements, track record of excellence and leadership in the field, solid management skills, knowledge of the industry and US accounting principles, and a graduate degree. Responsible for all or part of a company's financial status, actions and transactions, coordinate accounting operations, hire, train and oversee staff, maintain budget, perform financial analysis, build business strategy, and managing relationships with investors and auditors.
According to the U.S. Bureay of Labor Statistics, the average yearly salary of accountants and auditors in 2011 was $70,130. There are an estimated five million accountants and financial professionals working in the U.S. Employment of accountants is expected to grow by 18 percent between 2006 and 2016. (U.S. Bureau of Labor Statistics) IMA represents more than 65,000 members who work in public and private corporations, academia, and not-for-profit institutions. IMA has over 200 local chapters and councils worldwide. Today there are more than 20,000 active CMAs (Certified Management Accountants). Professionals with a CMA can earn 25 percent more in total compensation on average than noncertified peers. (IMA Salary Survey, 2009)
Management accountants review and analyze information
Show More

Related Documents: Accountants: Auditing and Management Accountants Essay

Business Plan Essay

which is in turn related to the Vulgar Latin word computare, meaning "to reckon". The base of computare is putare, which "variously meant to prune, to purify, to correct an account, hence, to count or calculate, as well as to think."[13] The word "accountant" is derived from the French word compter, which is also derived from the Latin word computare. The word was formerly written in English as "accomptant", but in process of time the word, which was always pronounced by dropping the "p", became gradually…

Words 1955 - Pages 8

Essay Building Conceptual Frameworks

Auditing is a vital part of accounting. Traditionally, audits were mainly associated with gaining information about financial systems and the financial records of a company or a business. Financial audits are performed to ascertain the validity and reliability of information, as well as to provide an assessment of a system's internal control. The goal of an audit is to express an opinion of the person / organization / system (etc.) in question, under evaluation based on work done on a test basis…

Words 1831 - Pages 8

Essay on Marketing: Social Worker

Career & Senior Colleges/Videotaped Oral Presentations Career Option 1: Accountant A: I want to be an Accountant in the future. As an accountant you must like to deal with numbers on a daily basis. The majority of the job will be numbers. I think I can do this job because my personality traits, interests, skills and values influenced me to choice it. Accountants should have good computer skills that they have acquired over the course of their education and professional experience. Most…

Words 1119 - Pages 5

Staff Accounting

Pam: What Does a Staff Accountant do? According to Payscale, a staff accountant is in charge of various financial duties that include reporting, budgeting and auditing. As illustrated below, the actual work duties of staff accountants will depend on the company and the industry. http://www.payscale.com/research/US/Job=Staff_Accountant/Salary Business Office In a regular business office, staff accountants are responsible for applying accounting principles through recording, reconciling and monitoring…

Words 505 - Pages 3

Sarbanes-Oxley Act Essay

accounting procedures. In short, the SOA controls and standardizes financial processes as well as corporate authority. With the enactment of Sarbanes-Oxley, numerous changes were made to auditing procedures that were not used beforehand. These changes include the start and introduction of risk management pertaining to…

Words 673 - Pages 3

Certified Public Accountant and Accountants Essay

Description Accountants design, install, maintain and use general accounting systems to prepare, analyze and verify financial reports and related economic information. Accountants in all business, industrial and governmental organizations furnish this financial information to managers, who use this up-to-date material to make important decisions for the organization. Accountants may work alone in small businesses or with other accountants in larger businesses and accounting firms. Accountants generally…

Words 1007 - Pages 5

Essay about Chapter 1 Solution BAF3M

customers; how to manage accounting records for the government; how to produce an income statement; and how to handle payroll accounting. 6. Public accountants offer their services to the general public for a fee, in the same way that a lawyer does. 7. Auditing is the examination and testing of the books, records, and procedures of a business so that an accountant is able to express an opinion about its financial statements. 8. Three kinds of business besides the service business are the merchandising business…

Words 1351 - Pages 6

Essay on audit letter week 1

Auditing Introduction Letter Paula Strahl ACC/546 Jacob Matthews May 24, 2015 May 24, 2015 Larry Lancaster Chairman of the Board of Directors, President and CEO Dear Mr. Lancaster, Thank you for your interest in our services at Anderson, Olds, and Watershed CPAs, LLC. We value your business and will strive to meet all of your expectations. Our firm offers various types of auditing services, including operational, compliance, and financial audits, as well as several attestation services…

Words 944 - Pages 4

Users Of Accounting Information Essay

The four key areas of Accounting Financial accountants -may be employed by larger companies or be self- employed. They prepare year-end statements , analyse and interpret information about operations. ccountants- produce, analyse, co-ordinate the flow of information which will help in running the business, eg budgeting, pricing, planning and controlling business operations. Areas of Accounting Auditors-are employed to check the accuracy of the financial statements of a business .This is to ensure…

Words 938 - Pages 4

Types Of Professionals In Accounting

encompasses a wide range of fields, careers, and industries. Accountants can perform a wide range of tasks for their clients or undertake more specialized work requiring very specific skillsets. Education in the accounting profession prepares the future accountant for certification and licensure in their field while numerous organizations cooperate to define standards and ethical practices. In this paper, several different types of accountants will be discussed along with the respective industries in…

Words 1470 - Pages 6