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Essay / Research Paper Abstract
A 6 page paper. The first half of this essay describes the functions and responsibilities of an accountant and managerial accountant. The second half discusses questions related to Claire's Antiques, a fictitious company. specifically, the writer discusses fixed vs. variable costs and the just-in-time inventory control system. Bibliography lists 5 sources.
Page Count:
6 pages (~225 words per page)
File: MM12_PGacctj.RTF
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Unformatted sample text from the term paper:
operated efficiently and according to the laws and regulations applicable to that specific type of business or organization. The responsibilities of an accountant are typically described as: "preparing, analyzing, and
verifying financial documents in order to provide information to clients" (U.S. Bureau of Labor Statistics, 2008; also see Gupta, 2008). The specific responsibilities of an accountant will depend on
where they work and the type of accounting they do (U.S. Bureau of Labor Statistics, 2008). Four major fields are identified in accounting and auditing: "public, management, government accounting, and
internal auditing" (U.S. Bureau of Labor Statistics, 2008). There are sub-groups even in these four major categories. For instance, a public accountant may perform a vast number of tasks for
a business but a public accountant might also just specialize in tax accounting by providing information and advice to businesses regarding tax issues, such as the advantages and disadvantages of
certain strategies (U.S. Bureau of Labor Statistics, 2008). Other accountants might specialize in a companys compensation programs (U.S. Bureau of Labor Statistics, 2008). Still other public accountants will specialize in
forensic accounting, which is involves investigating white-collar crimes (U.S. Bureau of Labor Statistics, 2008). These accountants have a firm grasp on the law as well as accounting practices. Gupta
(2008) provides information about the cycle of accounting. It begins with the opening balance sheet and tracks day-to-day business transactions, which are recorded in the Journal; these data are periodically
transferred to ledger accounts; at the end of the year, a trial balance is calculated, which leads to final account reporting that includes profit and loss statements; finally, a Balance
Sheet is prepared that reflects the companys financial position. In todays world, these tasks are usually performed with the assistance of advanced information technology tools. These data are prepared using
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