2. What is Accounting? Accounting is a discipline which provides financial information that is essential to the efficient conduct and evaluation of the activities of an organization.
3. Different Sectors of Accounting Financial – Analysis for people on the outside of an organization. Information based off of a companies accounting records. Managerial – Analyzes information for the managers of an organization. Auditing - Auditors check the validity of the information within an organization. Tax – Responsible for preparing tax returns.
4. Financial Statements An essential part of being an accountant is being able to understand and prepare financial statements.
5. Debits and Credits Understanding what debits and credits are is also a fundamental part of accounting (double-entry accounting). The link below will provide a clip that easily explains debits and credits. http://www.youtube.com/watch?v=gaZiAiETW_Y&feature=related
7. Skills Required People Skills Sale Skills Communication skills Analytical Skills Ability to Synthesize Creative Ability Initiative Computer Skills
8. Job Requirements Being a team oriented person Staying on top of new technology Having a strong business network Having good people skills
9. Useful Traits Being good with numbers Being a good communicator Paying close attention to details Managing your time successfully Being committed and motivated
10. Ethics in Accounting "Ethics in its broader sense, deals with human conduct in relation to what is morally good and bad, right and wrong. It is the application of values to decision making. These values include honesty, fairness, responsibility, respect and compassion." ~ Rushworth Kidder (President, Institute for Global Ethic).
11. The Importance of Ethics in Accounting Fraud is the result of not having an ethical accountant. Fraud: an intentional deception of a company’s assets. Leads to the manipulation of a company’s financial data in order to receive an advantage.
12. Losses due to unethical behavior Costs of legal action that has to be taken Costs of reduced productivity Unemployment Bankruptcy
13. Trust Fair- not misleading any sort of information. Being unbiased- staying true to the right direction. Without trust a relationship can not be formed. Once the trust is broken the company is at risk of bankruptcy because establishing trust once broken is really not an option in many peoples eyes.
14. In the absence of trust… Market’s crash- stock market in 1929. Leading to the Great Depression Audit Failures Enron Hiding debts Damaged public confidence in corporate America. The cost of this fraud was immeasurable to the economy.
15. Competence and Ethics No matter how ethical you are if you do not know about the company there is no way that the public can be protected. Audit Failures come from, in many instances, incompetence. Unimpeachable Ethics is very much needed as well.
16. Ethics Ethical rules are what define a person’s ability to think and act These set of rules state boundaries in the corporate world to maintain an important concept by which any accountant is to follow. Accounting Ethics: “ A set of distinct guidelines for a business to maintain clean balance sheet, accounting for their profits, losses and expenses incurred and prevent it from mishandling financial reports and statements.”
17. Behavior is Ethical if… A choice is in accordance with one’s value, which are based upon the correct principles. One chooses the choice that is more right, more moral, and more fair than the others. Showing integrity Consistently choosing to make ethical choices when faced with various situations
22. Opportunities at Villanova Go visit the Clay Center in Bartley Hall about: Study Abroad Co-Ops Internships
23. Study Abroad London, England (The London School of Economics) Madrid, Spain Geneva, Switzerland Shanghai, China Each program takes place during the summer and includes at least one academic class for credit as well as a six-week long internship with a local business Coordinate with both the Clay Center and the Office for International Studies
24. Co-Ops Delaware Country District Attorney’s Office Forensic Accounting/Economic Crimes Co-Op The Johnson & Johnson Finance/ Accounting Co-Op Requirements Junior status in the Villanova School of Business Majoring in accounting, finance or economics Maintain a 3.0 GPA or higher
25. Internships Spring Accounting Internship Program For Juniors at VSB who are majoring in Accounting Full-time, 14-week, in-depth Dr. James Emigruns the program Start searching for information in Spring of your Sophomore year at VSB Meetings and deadlines are posted and Dr. Emig makes certain meetings mandatory for participation Resume needs to be submitted by July preceding your Junior year
27. Companies With Local Offices Mayer Hoffman McCann, Larson Allen Weishair & Co., Smart and Associates, Parente Randolph, Withum Smith & Brown, Goldenberg Rosenthal, Beard Miller Company, Schneider Downs & Co., Hill Barth & King, Alpern Rosenthal & Co., Morris J. Cohen & Co., and Mitchell & Titus all have offices in Pennsylvania
28. Outlook Overall: very bright future About 1.3 million jobs in 2008 Expected to grow by 22 percent between 2008-2018 Increasing number of businesses Strict corporate rules and government laws Importance of the stakeholder
