Accounting is a science
Accounting is a technical discipline that from the processing of data on the composition and evolution of the assets of an entity, the assets owned by third parties in its possession and certain contingencies produces information for decision making by managers and interested third parties and for the monitoring of the resources and obligations of the entity. The purpose of accounting is to provide information at a given time of the results obtained during a period of time, which is useful for decision making, both for the control of past management, as well as for the control of past management.
The purpose of accounting is to provide information at a given moment of the results obtained during a period of time, which is useful for decision making, both for the control of past management and for the estimation of future results, providing such decisions with rationality and efficiency. Currently, there are discussions on the table that attempt to provide information on the results obtained during a period of time, which is useful for decision making, both for the control of past management, as well as for the estimation of future results, providing such decisions with rationality and efficiency.
Currently there are discussions on the table that attempt to define an ontological status of accounting, in which there are major disagreements about whether it has achieved a scientific status, i.e. whether it can be called a science or, failing that, an art, a language, or simply a technique. To avoid this discussion, it is often chosen to refer to accounting as a “discipline”, however, some authors have made an effort to argue their position on this issue.
Depreciation expense Furniture and equipment65,450.00Accrued depreciation Furniture and equipment65,450.00Accrued receivables:The note receivable (1,730,000) was signed on 05/17/2005 at a rate of 23% payable quarterly (43 days). Adjustment as of September 30, 2005.Accrued interest receivableInterest income47,526.9447,526.94Accrued payable:The note payable (500,000) was signed on 08/21/2005 at a rate of 15% payable bimonthly (39 days). Adjustment as of September 30, 2005..Interest expenseAccrued interest payable8,125.008,125.008,125.00The mortgage payable (1,100,000) was signed 7/03/2005 at a rate of 18% payable semiannually (23 days). Adjustment as of September 30, 2005.Interest expense12,650.00Accrued interest payable12,650.00Paid in Advance (Deferred):The insurance was paid (90,000) in advance 07/19/2005 and corresponds to one semester. Adjustment as of September 30, 2005.Insurance expense35,500.0035,500.0035,500.00Insurance paid in advanceRent received in advance (Deferred):Rent was received (180,000) in advance on 08/20/2005 corresponding to one quarterRent received in advanceRent received in advanceRent income80,000.0080,000.00
Branches of accounting
There has been a growing demand for accounting positions in the digital age, but not everyone can afford a degree in accounting. That doesn’t make you any less suited for the role. Nor does it mean you have zero chance of becoming an accountant despite your passion for it? See how to become an accountant without an accounting degree.
The point is that you can start as an accounting clerk or a junior financial accountant where you prepare journal entries every reporting cycle. This way, you’ll get the basic skills you need to move up the accounting ladder.
Whether you deal with financial accounting, tax accounting or are an administrative accountant, you are required to have a high level of numeracy and strong analytical skills. You must also be honest and detail-oriented.
The good news is that, unlike accounting graduates, you do not need to have a degree in accounting to become a CPA. However, this comes with its fair share of challenges. You must understand that the CPA exam is difficult and there are educational requirements you must meet before qualifying for the exam.
You can use volunteer work or hobbies, such as being the treasurer of a university society, as an example of work experience. You can also contact accounting firms to inquire about opportunities to gain relevant work experience prior to entry, which you could complete during the vacations. Ask about work experience or job shadowing possibilities.
The AAT accounting qualification is a recognized qualification in its own right. Although some accounting technicians with the AAT qualification manage to achieve higher levels, many see it as a stepping stone to further professional qualifications.
Five major accountancy training organizations offer exemptions from some of their modules/examinations to qualified accounting technicians. See their websites for more details: