Free Essays on Accounting

A college student decides she wants to become an accountant. General accounting and bookkeeping classes can be taken in high school. In college, the student needs to decide on a more specific field of accounting. An accountant has many choices as to what particular field of accounting to specialize in depending on the financial information she wants to analyze and how it is done. Financial accountants, tax accountants and internal auditors are all accountants in general, but require different training and work methods. A financial accountant records economic data and periodically prepares reports that show profit and other financial information of a company using the generally accepted accounting principles. The reports prepared by the accountant are useful for managers, and also for owners, creditors and the public. Based on information in the reports the public can use the reports to choose a company to invest in. Because a financial accountant is employed by an individual company, she is considered a private accountant. Another type of accountant is a tax accountant. A tax accountant prepares yearly tax returns for individual clients. The accountants have to use constant data such as rates of pay and other information to determine the proper amount of taxes to be paid. These accountants have to take a class once a year to catch up on yearly changes in tax laws and regulations. If a tax accountant has met state experience requirements, she may want to take exams to become a Certified Public Accountant (CPA). A third type of accountant is an internal auditor. Auditors are sponsored by the Institute of Internal Auditors and work within an individual firm. The auditor reviews accounting and operating procedures used by a firm to make sure everything is being run properly. If things aren't being run properly, it is the auditor's job to find the problem and to try to rectify it. An auditor is considered a private accountant because h... Free Essays on Accounting Free Essays on Accounting Great Input results in Great Output. While GIGO sounds like a Greek verb or an Italian food, it's typically used as an abbreviation for Garbage In, Garbage Out. This familiar computer axiom means that if invalid, inaccurate or inappropriate data is entered into a system, the resulting output will be just like the input †¦. invalid. Originally applied to computer software, GIGO holds true for all systems, including Activity Based Management (ABM) decision-making systems. Most ABM/ABC implementers pay little or no attention to input. Activity analysis interviews tend to focus on activities, output measures (drivers), classifications (value) and cost. One of the most valuable attributes of the activity is frequently overlooked †¦ its input. For example, a common activity is Issue Purchase Order. Number of P.O.'s or Number of Lines are common output measures for this value-added activity. What is its input? An activity will typically have more than one input. The inputs for Issue Purchase Order commonly include requisitions, inventory reports, cycle counts, policies, procedures, and bills of material. Because inputs come before output, they often define and direct an activity's performance. Input influences activity performance in five distinct ways: Inputs are the root cause of an activity. A requisition "causes" the purchasing department to initiate the activity of Issue Purchase Order. To identify and eliminate the root cause of an activity, you rarely need to look further than its input. Inputs trigger the quantity of an activity. More inputs mean more work. If more and more requisitions are received by Purchasing, the workload of specific activities, such as Issue Purchase Order, will increase proportionally. If you need to reduce workers, reduce input that triggers their workload. Inputs trigger quality. The quality, or lack thereof, will determine the quality of activity output. It is difficult to make a "good" ... Free Essays on Accounting Reed Accounting is a respected job through out the community. There cannot be a single business without accounting, it is used in every day life, at home doing your taxes or just finding where you spent your twenty dollar bill. Accounting has a wide range of aspects and job opportunities. There is a high demand for accountants, because there needs to be at least one accountant for every company. Public and certified management accountants should have the easiest time finding a new job. Accountants work in offices, or cubicles. Some work close with the manager of the store so they will always be updated with the latest information about the business. Accountants primarily track the whereabouts of the company’s money. Accountants relay information to the manager of the company, then manager’s check the report to see how well there company is doing, and what needs to be cut back and where there money is going. Governments also check the report to see how much tax the company has to pay, also other company’s use the report to verify if they want to do business with them or if they want to lend money to that company. There are a wide variety of accountants, some more important to a companies welfare then others. Mainly there are endless types of accountants but the four primary accounting jobs are: Public Accountants who work for companies, work for other people or even own there own business. Management Accountants who keep track of money and assets to tell where money is being spent and made by the companies in which they work. Internal Auditors mainly check to see if the accounts are correct and that noone wastes or loses any money, and even sometimes to see if any one is stealing from the company. Government Accountants check to see if the government records are right and they also check other companies to see how much they should be taxed, and who is doing business with the government. These elite fina... Free Essays on Accounting Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions including computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial performance, tax strategy, and health care benefits management. There's a lot to get out of a career in accounting. Perhaps most important: You will learn how business works. The field of accounting offers stimulating and challenging work that is constantly evolving. Because accountants spend a lot of time looking under the hoods of businesses they really learn how business works. It's no surprise that many successful players in business began their careers as accountants. It's also no surprise that most Chief Financial Officers of large corporations have a background in accounting. An accountant is perfectly positioned to become a CFO because he or she probably has the best understanding of what drives business and profits in a company.... Free Essays on Accounting A college student decides she wants to become an accountant. General accounting and bookkeeping classes can be taken in high school. In college, the student needs to decide on a more specific field of accounting. An accountant has many choices as to what particular field of accounting to specialize in depending on the financial information she wants to analyze and how it is done. Financial accountants, tax accountants and internal auditors are all accountants in general, but require different training and work methods. A financial accountant records economic data and periodically prepares reports that show profit and other financial information of a company using the generally accepted accounting principles. The reports prepared by the accountant are useful for managers, and also for owners, creditors and the public. Based on information in the reports the public can use the reports to choose a company to invest in. Because a financial accountant is employed by an individual company, she is considered a private accountant. Another type of accountant is a tax accountant. A tax accountant prepares yearly tax returns for individual clients. The accountants have to use constant data such as rates of pay and other information to determine the proper amount of taxes to be paid. These accountants have to take a class once a year to catch up on yearly changes in tax laws and regulations. If a tax accountant has met state experience requirements, she may want to take exams to become a Certified Public Accountant (CPA). A third type of accountant is an internal auditor. Auditors are sponsored by the Institute of Internal Auditors and work within an individual firm. The auditor reviews accounting and operating procedures used by a firm to make sure everything is being run properly. If things aren't being run properly, it is the auditor's job to find the problem and to try to rectify it. An auditor is considered a private accountant because h... Free Essays on Accounting The Master Budget for a profit oriented organization seeks to build a set of interrelated budgets which provide a complete "picture" of the operations of the business over some future period, usually twelve months. The elements of the master budget address both operating and financial concerns. (Blocher, 2002) It is not difficult to devise a master or overall budget. It is simply your realistic, long-term aspirations translated into total costs. So often, families consider only the cost for the item, when the item in question comes with accompanying repair or installation costs. For example, an air conditioner may require electrical, plumbing and installation expense. (www.debtfreebenefits.com) Those "other" costs should be considered in establishing the financial impact on the family budget. Sometimes the incidental costs may be as great at the time as the major purchase itself. Good planning or budgeting usually avoids these mistakes. (www.debtfreebenefits.com) After the long term objectives are established, each objectives must be put into annual terms. There are many questions to answer: When can you buy it, how much will it cost, do you pay it all now or can you spread the total costs over more than one year? (www.debtfreebenefits.com) A master budget is simply the compilation of these major considerations put on the same page (s) so that the total picture for a lifetime, year, month, week or day can be properly reviewed and then adjusted when necessary. (www.debtfreebenefits.com) A master budget does not have to be complex, but it ought to be complete. The path to success for the successful is almost always supported by a plan, a specific, written charting of the steps needed to accomplish the intended success. Success is not achieved by accident. Success is a planned event. (www.debtfreebenefits.com) A firm’s strategic plan describes how the firm matches its own strengths and weaknesses wi... Free Essays on Accounting When examining the effect of open marketing on the profession of accounting it is important to view it from three perspectives: the client's, the profession's, and society's. Additionally, two key areas that are affected by marketing must be addressed, these are concerning competition, and ethical implications. Marketing in public accounting is here to stay therefore making an argument against its existence would be fruitless; however, in order to achieve maximum benefit to the firm, the client, and s ociety more stringent guidelines must be implemented at the firm level. The first, and most obvious, of the effected areas is competition. Within competition several points are discussed. First, the implications advertising has on public accounting the model of perfect competition versus the model of monopolistic compet ition. Secondly, the relationship between firm size and advertising expenditures. Thirdly, the effect of advertising on firm specialization, the implications of client turnover on public accounting practice. Before making the comparison, a brief explanation why the two models are chosen is in order. Monopolistic competition has been chosen for the pre-advertising era because it most closely resembles the market structure in an extreme sense. The elements o f monopolistic competition are as follows: product differentiation, the presence of large numbers of sellers, and nonprice competition. Although accounting services between firms offer very little service differentiation, the absence of advertising serve s as a replacement because clients are not necessarily aware that other options are easily attainable. The post-advertising era is explained through the model of perfect competition for which the qualifications are as follows: very little or no service d ifferentiation, many sellers, and price as the only means of distinguishing one firms ... Free Essays on Accounting Accounting „h The main purpose of accounting is to provide useful, reliable, and timely information to people who make rational investments, credit, and similar decisions. Because accountants serve decisions makers by providing them with financial information that helps them make better decisions, accounting is often decried as a service activity. „h Accountants also provide information about nonprofit organizations such as churches, hospitals, museums, schools, and various government agencies. The people who use accounting information about nonprofit organizations include their managers and people who denote to or pay taxes to them, who use their services, or who otherwise work with them „h The internal role of accounting is to serve the organization's various functions by providing information that helps them complete their tasks. By providing this information, accounting helps departments such as Finance, Human Resources, Research and Development, Production, Marketing, and Executive Management reach their overall goals. „h After my undergraduate work I plan on going into M.S in accounting „h The Master of Science in Accounting Program is designed for accounting students and professionals who have completed an undergraduate accounting degree and who seek to enhance their technical and professional skills through completion of an advanced degree in accounting. Prospective students who have not earned a baccalaureate degree in accounting from a U.S. institution may apply but will be required to complete additional coursework in order to earn the degree. „h The one-year full-time curriculum, together with most undergraduate accounting programs, should satisfy the 150-hour educational requirement for certification and licensure as a certified public accountant (CPA). This is the educational standard advocated by the American Institute of Certified Public Accountants (AICPA) that is required in most states....

War of 1812 Overview - Campaigns of 1814

War of 1812 Overview - Campaigns of 1814 1813: Success on Lake Erie, Failure Elsewhere | War of 1812: 101 | 1815: New Orleans Peace A Changing Landscape As 1813 came to a close, the British began to focus their attention on the war with the United States. This began as an increase in naval strength which saw the Royal Navy expand and tighten their full commercial blockade of the American coast. This effectively eliminated the majority of American commerce which led to regional shortages and inflation. The situation continued to worsen with the fall of Napoleon in March 1814. Though initially heralded by some in the United States, the implications of the French defeat soon became apparent as the British were now freed to increase their military presence in North America. Having failed to capture Canada or force peace during the wars first two years, these new circumstance put the Americans on the defensive and transformed the conflict into one of national survival. The Creek War As the war between the British and Americans raged, a faction of the Creek nation, known as the Red Sticks, sought to halt white encroachment into their lands in the Southeast. Agitated by Tecumseh and led by William Weatherford, Peter McQueen, and Menawa, the Red Sticks were allied with the British and received arms from the Spanish in Pensacola. Killing two families of white settlers in February 1813, the Red Sticks ignited a civil war among between the Upper (Red Stick) and Lower Creek. American forces were drawn in that July when US troops intercepted a party of Red Sticks returning from Pensacola with arms. In the resulting Battle of Burnt Corn, the American soldiers were driven away. The conflict escalated on August 30 when over 500 militia and settlers were massacred just north of Mobile at Fort Mims. In response, Secretary of War John Armstrong authorized military action against the Upper Creek as well as a strike against Pensacola if the Spanish were found to be involved. To deal with the threat, four volunteer armies were to move into Alabama with the goal of meeting at the Creek holy ground near the confluence of the Coosa and Tallapoosa Rivers. Advancing that fall, only Major General Andrew Jacksons force of Tennessee volunteers achieved meaningful success, defeating the Red Sticks at Tallushatchee and Talladega. Holding an advanced position through the winter, Jacksons success was rewarded with additional troops. Moving out from Fort Strother on March 14, 1814, he won a decisive victory at the Battle of Horseshoe Bend thirteen days later. Moving south into the heart of the Creek holy ground, he built Fort Jackson at the junction of the Coosa and Tallapoosa. From this post, he informed the Red Sticks that they were surrender and sever ties with the British and Spanish or be c rushed. Seeing no alternative, Weatherford made peace and concluded the Treaty of Fort Jackson that August. By the terms of the treaty, the Creek ceded 23 million acres of land to the United States. Changes Along the Niagara After two years of embarrassments along the Niagara frontier, Armstrong appointed a new group of commanders to achieve victory. To lead American forces, he turned to newly promoted Major General Jacob Brown. An active commander, Brown had successfully defended Sackets Harbor the previously year and was one of a few officers to have escaped the 1813 St. Lawrence expedition with his reputation intact. To support Brown, Armstrong provided a group of newly promoted brigadier generals which included Winfield Scott and Peter Porter. One of the few standout American officers of the conflict, Scott was quickly tapped by Brown to oversee the armys training. Going to extraordinary lengths, Scott relentlessly drilled the regulars under his command for the upcoming campaign (Map). A New Resilience To open the campaign, Brown sought to re-take Fort Erie before turning north to engage British forces under Major General Phineas Riall. Crossing the Niagara River early on July 3, Browns men succeeded in surrounding the fort and overwhelming its garrison by noon. Learning of this, Riall began moving south and formed a defensive line along the Chippawa River. The next day, Brown ordered Scott to march north with his brigade. Moving towards the British position, Scott was slowed by an advance guard led by Lieutenant Colonel Thomas Pearson. Finally reaching the British lines, Scott elected to await reinforcements and withdrew a short distance south to Street Creek. Though Brown had planned a flanking movement for July 5, he was beat to the punch when Riall attacked Scott. In the resulting Battle of Chippawa, Scotts men soundly defeated the British. The battle made Scott a hero and provided a badly needed morale boost (Map). Heartened by Scotts success, Brown hoped to take Fort George and link up with Commodore Isaac Chaunceys naval force on Lake Ontario. With this done, he could begin a march westward around the lake towards York. As in the past, Chauncey proved uncooperative and Brown advanced only as far as Queenston Heights as he knew Riall was being reinforced. British strength continued to grow and command was assumed by Lieutenant General Gordon Drummond. Unsure of British intentions, Brown dropped back to the Chippawa before ordering Scott to reconnoiter north. Locating the British along Lundys Lane, Scott immediately moved to attack on July 25. Though outnumbered, he held his position until Brown arrived with reinforcements. The ensuing Battle of Lundys Lane lasted until midnight and was fought to a bloody draw. In the fighting, Brown, Scott, and Drummond were wounded, while Riall was wounded and captured. Having taken heavy losses and now outnumbered, Brown elected to fall back on Fort Erie. Slowly pursued by Drummond, American forces reinforced Fort Erie and succeeded in repelling a British attack on August 15. The British attempted a siege of the fort, but were forced to withdraw in late September when their supply lines were threatened. On November 5, Major General George Izard, who had taken over from Brown, ordered the fort evacuated and destroyed, effectively ending the war on the Niagara frontier. 1813: Success on Lake Erie, Failure Elsewhere | War of 1812: 101 | 1815: New Orleans Peace 1813: Success on Lake Erie, Failure Elsewhere | War of 1812: 101 | 1815: New Orleans Peace Up Lake Champlain With the conclusion of hostilities in Europe, General Sir George Prevost, the governor-general of Canada and commander-in-chief of British forces in North America, was informed in June 1814 that over 10,000 veterans of the Napoleonic Wars would dispatched for use against the Americans. He was also told that London expected him to undertake offensive operations before the close of the year. Assembling his army south of Montreal, Prevost intended to strike south through the Lake Champlain corridor. Following the route of Major General John Burgoynes failed Saratoga Campaign of 1777, Prevost elected to take this path due to antiwar sentiment found in Vermont. As on Lakes Erie and Ontario, both sides on Lake Champlain had been engaged in a ship-building race for over a year. Having built a fleet of four ships and twelve gunboats, Captain George Downie was to sail up (south) the lake in support of Prevosts advance. On the American side, the land defense was headed by Major General George Izard. With the arrival of British reinforcements in Canada, Armstrong believed that Sackets Harbor was under threat and ordered Izard to leave Lake Champlain with 4,000 men to reinforce the Lake Ontario base. Though he protested the move, Izard departed leaving Brigadier General Alexander Macomb with a mixed force of around 3,000 to man the newly built fortifications along the Saranac River. The Battle of Plattsburgh Crossing the border on August 31 with around 11,000 men, Prevosts advance was harassed by Macombs men. Undaunted, the veteran British troops pushed south and occupied Plattsburgh on September 6. Though he badly outnumbered Macomb, Prevost paused for four days to prepare to assault the American works and to allow Downie time to arrive. Supporting Macomb was Master Commandant Thomas MacDonoughs fleet of four ships and ten gunboats. Arrayed in a line across Plattsburgh Bay, MacDonoughs position required Downie to sail further south and round Cumberland Head before attacking. With his commanders eager to strike, Prevost intended to move forward against Macombs left while Downies ships attacked the Americans in the bay. Arriving early on September 11, Downie moved to attack the American line. Forced to combat light and variable winds, the British were unable to maneuver as desired. In a hard-fought battle, MacDonoughs ships took a beating were able to overcome the British. During the battle, Downie was killed as were many of the officers on his flagship, HMS Confiance (36 guns). Ashore, Prevost was late in moving forward with his assault. While artillery on both sides dueled, some British troops advanced and were achieving success when they were recalled by Prevost. Having learned of Downies defeat on the lake, the British commander decided to call off the assault. Believing that control of the lake was necessary for the resupply of his army, Prevost argued that any advantage gained by taking the American position would be negated by the inevitable need to withdraw down the lake. By evening, Prevosts massive army was retreating back to Canada, much to the astonishment of Macomb. Fire in the Chesapeake With the campaigns underway along the Canadian border, the Royal Navy, guided by Vice Admiral Sir Alexander Cochrane, worked to tighten the blockade and conduct raids against the American coast. Already eager to inflict damage on the Americans, Cochrane was further encouraged in July 1814 after receiving a letter from Prevost asking him to assist in avenging the American burnings of several Canadian towns. To execute these attacks, Cochrane turned to Rear Admiral George Cockburn who had spent much of 1813 raiding up and down the Chesapeake Bay. To support these operations, a brigade of Napoleonic veterans, led by Major General Robert Ross, was dispatched to the region. On August 15, Ross transports passed the Virginia Capes and sailed up the bay to join with Cochrane and Cockburn. Discussing their options, the three men elected to attempt an attack on Washington DC. This combined force quickly trapped Commodore Joshua Barneys gunboat flotilla in the Patuxent River. Pushing upstream, they swept aside Barneys force and began landing Rosss 3,400 men and 700 marines on August 19. In Washington, the Madison Administration struggled to meet the threat. Not believing Washington would be a target, little had been done in terms of preparation. Organizing the defense was Brigadier General William Winder, a political appointee from Baltimore who had previously been captured at the Battle of Stoney Creek. As the bulk of the US Armys regulars were occupied in the north, Winder was forced to largely rely on militia. Meeting no resistance, Ross and Cockburn advanced rapidly from Benedict. Moving through Upper Marlborough, the two decided to approach Washington from the northeast and cross the East Branch of the Potomac at Bladensburg (Map). Massing 6,500 men, including Barneys sailors, Winder opposed the British at Bladensburg on August 24. In the Battle of Bladensburg, which was viewed by President James Madison, Winders men were forced back and driven from the field despite inflicting higher losses on the British (Map). As American troops fled back through the capital, the government evacuated and Dolley Madison worked to save key items from the Presidents House. The British entered the city that evening and soon the Capitol, Presidents House, and Treasury Building were ablaze. Camping on Capitol Hill, the British troops resumed their destruction the following day before beginning the march back to their ships that evening. 1813: Success on Lake Erie, Failure Elsewhere | War of 1812: 101 | 1815: New Orleans Peace 1813: Success on Lake Erie, Failure Elsewhere | War of 1812: 101 | 1815: New Orleans Peace By the Dawns Early Light Emboldened by their success against Washington, Cockburn next advocated for a strike against Baltimore. A pro-war city with a fine harbor, Baltimore had long served as a base for American privateers operating against British commerce. While Cochrane and Ross were less enthusiastic, Cockburn succeeded in convincing them to move up the bay. Unlike Washington, Baltimore was defended by Major George Armisteads garrison at Fort McHenry and around 9,000 militia who had been busy building an elaborate system of earthworks. These latter defensive endeavors were overseen Major General (and Senator) Samuel Smith of the Maryland militia. Arriving at the mouth of the Patapsco River, Ross and Cochrane planned a two-prong attack against the city with the former landing at North Point and advancing overland, while the navy attacked Fort McHenry and the harbor defenses by water. Going ashore at North Point early on September 12, Ross began advancing towards the city with his men. Anticipating Ross actions and needing more time to complete the citys defenses, Smith dispatched 3,200 men and six cannon under Brigadier General John Stricker to delay the British advance. Meeting in the Battle of North Point, American forces successfully delayed the British advance and killed Ross. With the generals death, command ashore passed to Colonel Arthur Brooke. The next day, Cochrane advanced the fleet up the river with the goal of attacking Fort McHenry. Ashore, Brooke pushed on to the city but was surprised to find substantial earthworks manned by 12,000 men. Under orders not to attack unless with a high chance of success, he halted to await the outcome of Cochranes assault. In the Patapsco, Cochrane was hampered by shallow waters which precluded sending forward his heaviest ships to strike at Fort McHenry. As a result, his attack force consisted of five bomb ketches, 10 smaller warships, and the rocket vessel HMS Erebus. By 6:30 AM they were in position and opened fire on Fort McHenry. Remaining out of range of Armisteads guns, the British ships struck the fort with heavy mortar shells (bombs) and Congreve rockets from Erebus. As the ships closed, they came under intense fire from Armisteads guns and were compelled to draw back to their original positions. In effort to break the stalemate, the British attempted to move around the fort after dark but were thwarted. By dawn, the British had fired between 1,500 and 1,800 rounds at the fort with little impact. As the sun began to rise, Armistead ordered the forts small storm flag lowered and replaced with the standard garrison flag measuring 42 feet by 30 feet. Sewn by local seamstress Mary Pickersgill, the flag was clearly visible to all of the ships in the river. The sight of the flag and the ineffectiveness of the 25-hour bombardment convinced Cochrane that the harbor could not be breached. Ashore, Brooke, with no support from the navy, decided against a costly attempt on the American lines and began retreating towards North Point where his troops re-embarked. The successful defense of the fort inspired Francis Scott Key, a witness to the fighting, to write The Star-Spangled Banner. Withdrawing from Baltimore, Cochranes fleet departed the Chesapeake and sailed south where it would play role in the wars final battle. 1813: Success on Lake Erie, Failure Elsewhere | War of 1812: 101 | 1815: New Orleans Peace