How to Keep Your Paperwork Organised

Essential Experience for Finance and Accounting Jobs Before going to a recruitment agency or several recruitment agencies to ask to be placed in any open accounting positions, the applicant should be familiar with the credentials needed to become an accountant. There are several necessary steps one needs to complete before successfully applying for accounting jobs. The most important credential one needs in order to get a job as an accountant is to become a Certified Public Accountant, or CPA. The requirements to obtain CPA certification differ from state to state, so it is important for the applicant to research the necessary prerequisites for the state in which he wants to work. One requirement which is necessary in every state, however, and that the applicant have a bachelor's degree in accounting or in another, related field-such as business-with several hours of accounting classes on his transcript. The only exception is in Deleware, where an Associate's degree is acceptable. While in college taking accounting courses, the applicant will select a specialty. Just as students in medical school decide whether they want to specialize in internal medicine, surgery, or other field, accountants must select a primary interest. The specialties within accounting include public accounting, government accounting, management accounting and internal auditing. Most accounting students choose to do an internship at an accounting firm which specializes in their primary accounting field during college in order to garner as much experience as possible. After graduating from an accredited four-year university with an accounting degree or other applicable degree (as well as the appropriate number of accounting hours, which varies by state), post-graduate accountants study for the CPA examination. In order to be eligible to take the exam, the post-graduate must receive eligibility from his state's Boards of Accountancy. Though the requirements for each state varies slightly, most insist on an accounting degree or concentration as well as a year's experience working for an accounting firm. Some students gain that experience during college through work programs or internships, while others choose to use the year after graduation to work for an accounting firm to gain the experience needed to take the CPA exam. The CPA examination is a standardized test which is divided into 4 parts and is taken over a 2-day period. It is designed by the American Institute of Certified Public Accountants, or AICPA, and administered by the National Association of State Boards of Accountancy, or NASBA. Not many people pass all 4 portions of the CPA examination on their first try, so taking a CPA preparation course and studying before the examination is helpful.




A Peep into the Disadvantages of Hiring Business Accounting Services It has now been understood by small and medium business owners that the time spent in languishing over books and accounts does not add to the bottom line and the same can be spent in handling other core functions and processes that generate revenues. For the efficient use of available time and limited resources, organizations are increasing looking towards outsourcing their taxation and accounts related job work to firms offering business accounting services in a professional way. Experts who are fully equipped with the latest accounting and taxation software and information are providing high quality services and valuable consultancy and advice to organizations willing to outsource their accounting and bookkeeping functions to professional accounting services providers. Outsourcing of professional accounting services to third parties helps businessmen by saving money in the areas enumerated below: 1. Accounting software 2. Employee training and turnover costs 3. Vacation, sick and personal leaves 4. Additional office space, equipment and furniture 5. Retirement plans, medical benefits and other incentives and bonuses 6. Worker's compensation insurance 7. State Unemployment insurance, etc Various printed, and internet editions, broadcast advertisements like "We provide quality business accounting services" or "Contact us for your professional accounting services needs". The synonyms for the outsourced accounting services are many such as book keeping management, accounting reporting delivery, user's book keeping support system, financial accounting services, etc. With the increasing demand for these services for SME's and entrepreneurs for cost effective and error free solutions, there have been many insights into the pros and cons of outsourcing accounting procedures to external parties supplying professional accounting services. I would like to put forward certain disadvantages of opting for business accounting services, which should be studied by small business owners- to avoid complications through their outsourcing decisions. 1. Most of the small and medium sized business owners are capable of handling the transactions and monetary dealings on their own. Opting for business accounting services may provide more time on their hands to manage other affairs but it may also lead to loads of headaches and even loss of personal freedom. If the professional accounting services are hired from incompetent consultants or third party accountants, their mistakes in accounting procedures, non compliance to regulatory standards and non timely submission of taxation and final accounts and documents can lead to high penalties and imprisonment in certain cases. 2. The safety and stability of the accounting records and data along with highly confidential information depends on the business relationship between the outsourcer and the business accounting services provider. In certain cases, non ethical business procedures lead to the exposure of Company sensitive data to competitors which may lead to great business losses. 3. It is extremely important to comply with the statutes related to tax inspection. Improper supporting documentation accompanying the submitted tax returns may invite tax bodies to impose arrest on bank accounts of the enterprises and the personal accounts of the businessmen. This leads to a loss of reputation and undue stress for the owners and in certain cases the termination of the business operations.