careers in acc Flashcards
(29 cards)
What are the primary roles of financial support staff in accounting?
Includes bookkeepers, credit controllers, and payroll administrators who handle financial transactions and records.
Name some types of accountants.
Financial accountants, management accountants, chartered accountants, auditors, technicians.
What is the role of financial compliance officers?
Ensure businesses adhere to financial regulations and ethical standards.
What advantages do private individuals gain from accounting services?
Accurate financial advice, tax planning, compliance support.
How do businesses benefit from accounting services?
Financial stability, risk management, strategic planning to improve profitability.
What are some professional accounting services provided at national and international levels?
Audit Services, Financial Statements, Business Finance & Investment Appraisal, Project Management & Tax Advice.
What is the purpose of audit services?
Ensuring financial accuracy and compliance.
What does financial accounting involve?
Recording transactions and preparing reports.
What is the focus of financial planning & budgeting?
Forecasting financial performance.
List some professional characteristics required for accounting professionals.
Autonomy, accountability, ethical behavior, specialized knowledge, adherence to professional codes.
What routes into accounting exist?
University degrees, specialist qualifications, professional body exams, apprenticeships, ongoing skill updates.
What is the role of a management accountant?
Advises on financial decisions.
What does a Certified Public Accountant (CPA) do?
Provides accounting services to the public.
What is the specialization of a tax accountant?
Tax-related financial matters.
What does a chartered accountant do?
Examines financial records for businesses.
What is the function of an auditor?
Reviews financial statements for accuracy and legality.
What does a forensic accountant investigate?
Financial misconduct.
What are some challenges of skills shortages in accounting?
Difficulty in accessing qualified professionals, slower adoption of new technologies, global employment opportunities leading to shortages.
What is on-the-job training?
Practical experience while working.
What are the advantages of off-the-job training?
Formal education and certification, hands-on learning, employer-funded qualifications.
What are some disadvantages of training in accounting?
Costs, time commitment, potential wage limitations.
How can professional staff enhance customer trust?
Competent and qualified employees.
What is the importance of understanding customer needs?
Tailoring financial services to client requirements.
Why is product knowledge essential in accounting services?
Ensures accurate financial advice.
