Accounting as a Profession

abcaccounts By abcaccounts, 21st Jun 2012 | Follow this author | RSS Feed
Posted in Wikinut>Business>Accounting & Finance

This article is about the accounting profession and what accountancy is all about .

Accounting as a Profession

The accounting profession has become more and more lucrative in the global market. Accounting experts are needed seriously in Business Industries all over the the world ranging from Higher Higher to Lower Lower classed companies.

Accounting professionals are needed in the banking industry, agricultural industry, oil and gas industry and so on. One of the reason’s accountants are needed in the global market is that they provide necessary financial information needed for the day-to-day running of the business. Accountants can now forecast the financial future of a business using the companies financial history, the current market situation and other related documents.

In Nigeria today, accounting has gone beyond just book-keeping, basic preparation of financial reports and some basic areas of financial and managerial accounting. Accountants can now work in more complex areas such as forensic accounting, environment accounting and e-commerce. Research has showed us that recent collapses and advances in information technology have resulted in a new breed of accountants who must possess a variety of skills and knowledge. In the past decade, enormous changes in information technology have resulted in improved accounting systems and the role of the auditor.

Most Nigerians become interested in the profession of accounting because they believe that accountants make a lot of money for themselves and other people. Many successful Accountants can indeed help others make a lot of money. This may happen because accounting is about gathering financial data using either a manual or computerized system. This information is therefore used as a basis for making successful business decisions, not only about current activities, but also for future plans.

RECOMMENDED TEXTS.
Adeifa O. Ajileye J. O and Oluwasanna, R. O (2001) Get your Financial Accounting Right. Book One: Oyo, Tenlad Press International.
Ajileye, J. O. and Adetifa O. (2001); Get your Financial Accounting Right, Book Two; Lagos: De Hadey Printing Services.
Akinduko, A. O (2001) Basic Accounting Akure: Spetins
Anao, A. R (1993); An Introduction to Financial Accounting, Lagos: Longman
Igben, R. O. (2004) Financial Accounting Made Simple (Vol. 1) Lagos: Roi Publishers
Millichamp, A. H (1989) Foundation Accounting; An Introduction manual for Accounting Students, London: DP Publications
Okwoli, A. A (1995) Financial Accounting, Zaria: Tamaza Publishers

Tags

Accountancy, Accountant, Accounting, Business, Financial Statement, Forensic Accounting, Lagos, Nigeria

Meet the author

author avatar abcaccounts
I am a Nigerian by birth, am a Business Student of Federal College of Education(Technical) Akoka. I am straight forward person.

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Comments

author avatar Tranquilpen
22nd Jun 2012 (#)

A very apt description of accounting. Thank you for sharing.

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