The different fields of accounting include management accounting, government accounting, or auditing, public accounting and internal auditing. Accountants in these fields may be Certified Public Accountants, Certified Management Accountants, Certified Financial Managers, Certified Internal Auditors, Certified Fraud Examiners, Enrolled Agents, Certified Government Financial Managers or Certified Financial Planners.Continue Reading
Management accountants typically work in teams, and they provide the executives of companies with financial advice. They also provide the information that is published in the company's annual reports for shareholders.
Government accountants do accounting work for government agencies, and they may work for local, state or federal departments. In some cases, government accountants work for the Internal Revenue Service, and in that role, they audit businesses and individuals on behalf of the government.
Public accounting is a relatively broad field. It includes accountants who specialize in tax preparation as well as accountants who provide accounting, tax or auditing services for governments, businesses or individuals. Many of the accountants in this field are CPAs, or Certified Public Accountants, but many of them have other certifications instead.
Internal auditors can also be called forensic accountants. Accountants in this field investigate the financial records of companies or other entities in an attempt to find or prevent fraud or inaccuracies.Learn more about Accounting
To write an engagement letter for auditing, determine the extent of services to be provided, set the period for conducting audit fieldwork, and specify the costs and fees, instructs the Houston Chronicle. Moreover, include a statement regarding the focus of the audit on professional standards and generally accepted accounting principles.Full Answer >
Standard tick marks used in auditing provide abbreviated notations to footnote numbers in a column that were manually added, computations that were verified and amounts traced to the ledger balance, according to Accounting Tools. Assets confirmed, cancelled checks and supporting documents examined are also notated by standard tick marks.Full Answer >
The term "f.o.b." in accounting refers to freight on board or free on board. Contracts between buyers and sellers usually indicate that goods are either f.o.b. destination or origin, which affects who owns the inventory and is liable for it while in transit, according to QuickBooks.Full Answer >
In the context of accounting, computers are typically used to record, save and analyze data, explains Jeffrey Romano of Clever Accounting. The computing programs used for accounting range from general-purpose spreadsheet software to specialized applications.Full Answer >