Essays: Role of accounting profession

A requirement in accounting of incomes and charges and also in adjusting of money streams increases constantly. In a great deal it determines high popularity of accounting profession in our days. In recent years we have witnessed several major accounting scandals that rocked the business community and hurt investor confidence; some major companies were involved in these scandals. The main aim of this paper is to answer on a question about the role of accounting profession in the new business environment.

The specialists of financial sector of economy until now remain most claimed at the labor-market. Experienced chief accountants with high education are important for companies more frequently than other categories of specialist due to the high level of responsibility and qualification, but ordinary accountants are also important for many companies. Nowadays surplus of specialists, possessing enough low qualification is present, such specialized are also characterized by little practical experience or quite without it. As we understand from the previous information skilled specialists always were and will be in a deficit, because they are the part of prosperous future and can even make it by own efforts. It would seem that the numerous armies of accountants must with usury cover all existent vacancies. Indeed, supersaturating of this labor-market is, thus enough large, as business experts consider. Any single company can’t do business without services of accountant; what it is engaged in and whatever stage of development it is on. I will repeat again as company larger as many accouters are important for its normal functioning. This opinion confirms circumstance that in the big cities thousands of organizations are annually registered and each of them is require at the minimum one accountant. The word accounting appeared many years ago and nowadays all types of organizations even can not exist without accountant, it is major part of the business environment and greatly influence on the company’s functioning. Do you know that the notion accounting very often associated with business structures and it is usually referred to as “the language of business”. As for me accounting role conclude in maintaining and processing of all major economic and financial information that is used for different aims. Among these aims we can find for example managing and reporting purposes.

Let’s look more attentively on the work of accountants and define its main characteristics. I look through different information sources during the time of preparing this work and as a result experts confirm the answer on the question about general functions of accountant in every company. Some people say that the work of accountants is the easier than all other economic specialization, other proclaims that it is rather hard work and need only analytical mind. There are many people and there are many opinions in relate to this topic. I don’t want to define is it easy or it is hard work but I want to answer on the question what is the work of accountants at all. First of all accountants help business structures be successful, responsible and ethical participants in society. Observation, measurement, and communication are among accountants’ main activities. These activities have analytical character and need strict logic. Every day accountants gather, analyze, calculate, accumulate and record facts and other data about the unit’s activities; after it this economical genies translate these data into such kind of information that can help to achieve specific business aims.

I want to emphasize one more sphere of accountants influence. They design and maintain accounting systems with an aim to help regulate and provide a record of company’s activities, resources and also obligations.

Thus, taking into account all above mentioned we can conclude that accountant is not rare profession but it is very important profession that makes our life understandable and well structured. Any system in our county can’t function without accountants and good specialists are always important. Accountants play a main role in providing necessary information for making economic and financial decisions. I even can compare accountant with the profession of doctor for the company, because only this person can define what happen with a company or enterprise and how to help to this business organism. Rational decisions should be based on reliable analyses and comparison of estimates and right decision making process depend on accountant actions and facilities.

Edward Ketz, J. (2003). Hidden Financial Risk: Understanding Off Balance

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