ACCOUNTING PROFESSION

To decide to be an accountant is no more

descriptive than deciding to be a doctor. Obviously, there are

many specialty areas. Many

accountants engage in the

practice of "public" accounting,

which involves providing audit,

tax, and consulting services to

the general public. To engage in

the practice of public accounting

usually requires one to be

licensed as a CPA (Certified

Public Accountant). Auditing

involves the examination of

transactions and systems that

underlie an organization's

financial reports, with the

ultimate goal of providing an

independent report on the

appropriateness of financial

statements. Tax services relate

to the providing of help in the

preparation and filing of tax

returns and the rendering of

advice on the tax consequences

of alternative actions. Consulting

services can vary dramatically,

and include such diverse activities

as information systems

engineering to evaluating

production methods. Many

accountants are privately

employed directly by small and

large businesses (i.e., "industry

accounting") and not-for-profit

agencies (such as hospitals,

universities, and charitable

groups). They may work in areas

of product costing and pricing,

budgeting, and the examination

of investment alternatives. They

may focus on internal auditing,

which involves looking at

controls and procedures in use

by their employers. Objectives of

these reviews are to safeguard

company resources and assess

the reliability and accuracy of

accounting information and

accounting systems. They may

serve as in-house tax

accountants, financial managers,

or countless other occupations.

And, it probably goes without

saying that many accountants

work in the governmental sector,

whether it be local, state, or

national levels. You would

expect to find many accountants

at the Internal Revenue Service,

General Accounting Office,

Securities and Exchange

Commission ("SEC" -- the USA

governmental agency charged

with regulating accounting and

reporting by companies whose

shares of stock is bought and

sold in public markets), and even

the Federal Bureau of

Investigation