Accountants and auditors help ensure that the enterprises in the country are managed efficiently, public records are accurately kept and taxes are paid properly and on time, they are increasingly increasing to customers Business and accounting services, including the public, administrative and governmental accounting, and internal audits to provide information to these clients Basic work such as preparation, analysis, validation of financial documents Not only to accomplish, many accountants currently offer a wide range of knowledge and services that accountants and accounting officers provide to include budget analysis, financial and investment planning, information technology consulting, and limited legal services
Specific duties vary widely depending on four major areas: public accounting, management accounting, governmental accounting and internal audit.
The internal auditor verifies the accuracy of the organization's internal records and checks for misleading management, waste, or fraud. Internal audits are becoming increasingly important in the areas of accounting and auditing. The internal auditor examines and evaluates the company's financial and information systems, management procedures, and internal controls, records are accurate, management also protects against fraud and waste, reviews the business of the enterprise, Evaluate its efficiency, effectiveness, and compliance with corporate policies and procedures, laws, and government regulations. There are various kinds of highly specialized auditors, such as electronic data processing, environment, engineering, law, insurance premiums, banks, healthcare auditors. As computer system information timelier, internal auditor's help depends on the administrator to make decisions actual data observe the individual. The internal auditor may also recommend controlling the organization's computer system to ensure system reliability and data integrity.
Government accountants and auditors work in the public sector, maintain and investigate agency records, audit government regulations or taxable private enterprises and individuals and are adopted by federal, state and local governments The accountant ensures that income is received and expenditure is made according to laws and regulations. What was adopted by the federal government can work as an internal revenue service agent or in financial management, financial institution review, or budget analysis and management
What is FASB?
The FASB is an organization that provides standardized guidelines for financial reporting. The mission of the Financial Accounting Standards Board (FASB) is to establish standards for financial accounting and reporting for general guidance and education, including issuers, auditors and users of financial information,
Because decisions about resource allocation depend heavily on trustworthy, concise, transparent and easy-to-understand financial information, accounting standards require financial information on the business and financial condition of an individual entity to efficient function of the economy Are also commonly used in making various other kinds of decisions.
To achieve its mission, the FASB:
- Improve the usefulness of financial reporting by making it a major characteristic of relevance and reliability and focusing on comparability and consistency qualities;
- Keep standards up-to-date in order to reflect changes in business methods and the economic environment;
- Promptly consider important areas of financial report shortage that may be improved by the standard setting process;
- Improve the quality of financial reporting and promote international convergence of accounting standards.
- Improve the common understanding of the nature and purpose of the information contained in the financial report.
The FASB develops a wide range of accounting concepts and standards for financial reporting. We also provide guidance on standard implementation. Concept to help guide the establishment of guidance committees to provide reference standards for frame reference, or to solve accounting issues for conceptual framework. This framework establishes the limits of reasonable judgment in the creation of financial information and helps to enhance the understanding and trust of financial information on the user side of financial reporting. It also helps citizens understand the nature and limitations of information provided by financial reporting.
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