1. 1.1 Introduction: What is
Accounting
By the end of this lesson, you will be able to:
• Define accounting
• Identify reasons for the study of accounting.
• Identify users of accounting information.
• Explain the importance of Ethics in business and accounting.
2. • Define accounting
The accounting process provides financial data
for abroad range of individuals whose objectives
in studying the data vary widely.
3. • Define accounting
Bank officials, for example, may study a
company’s financial statements to evaluate the
company’s ability to repay a loan. Prospective
investors may compare accounting data from
several companies to decide which company
represents the best investment. Accounting also
supplies management with significant financial
data useful for decision making.
4. 8 Reasons Why You Should Study
Accounting
Accountants are the backbone of a company. An
accountant’s job mainly involves making and
assessing the financial records and accounts of a
company. By doing so, they’re able to help check
if the business is doing well.
5. 1. You’ll have an enjoyable study
experience
Accounting is a relatively difficult field of study.
However, if you love numbers, then you’ll enjoy
the challenge. You don’t necessarily need to be
a math wizard to have a degree in accounting.
Knowing the basics of addition, subtraction,
division, and multiplication is all you need,
alongside good analysis skills.
6. 2. You’ll learn skills that can be
applied in many areas of your life
When you have a career in accounting, you can
apply accounting principles both at work and
outside of work,
You can use your knowledge on payroll
management, profit and loss ratios, and other
business-related concepts when you start your own
business. Your accounting knowledge can help you
in your home management, such as managing your
budget and expenses effectively with sheets and
ledgers
7. 3. You can take other degrees
alongside accounting
Major in Accounting and Business Management
Major in Accounting and Finance
Major in Accounting and Business
Entrepreneurship
When you have a double degree, you’re putting
more credentials on your CV and resume, which can
increase your chances of employment. Aside from
this, you’re also giving yourself an opportunity to
broaden your horizons and work in different fields.
8. 4. You’ll get hired immediately
Accounting is one of the jobs that have a high
and fast hiring rate. It’s without a doubt that job
opening rates and availability of work are some
of the top considerations of students when
choosing careers. Everyone wants to land a
good-paying job fast.
9. 5. You’ll always be in demand
• Every business industry or sector needs an
accountant. Even with technological
advancements, the skills of an accountant will
still be a requirement in the office.
10. 6. You’ll have international
opportunities
One of the great things about accounting is that
you can get exposure to a wide array
of international opportunities. If you plan on
working abroad, you can easily get a job
overseas with an accounting degree.
11. 7. You’ll have good recommendations
for career advancements
A degree in accounting can open up
opportunities for you to volunteer in big
organizations such as the United Nations (UN)
and World Health Organization (WHO). These
international organizations are constantly in the
need for more accountants or economics
experts to help them in their daily auditing.
12. 8. An accounting degree can be a
stepping-stone for other degrees
You can also use your accounting degree as a
stepping-stone toward further studies, such as
law. You may find that some subjects in law
school are already taken up in your accounting
degree or are only a review of what you have
previously learned.
13. Users of accounting information.
User OF Accounting we will classify Two Types
Internal
External
15. External Users
External users are the secondary users of
accounting. Such as.
Investors
Lenders
Suppliers
Customers
Tax Authorities
Government
Auditors
Public
16. The importance Of Ethic in
Accounting
Accounting as a job serves as the financial
backbone of a business for it deals with money
and its primary task is to record and analyze
financial information. It includes the keeping of
financial records and assurance that the records
are accurate which makes it as a detail- oriented
work. Gibson, Hutchinson.
