Chat with AI
Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
Edition 11ISBN: 978-1259535314Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
Edition 11ISBN: 978-1259535314 Exercise 2
Read and outline an article The accounting profession is frequently in the news, not always in the most positive light. The purpose of this assignment is to increase your awareness of an issue facing the profession.
Required:
Find, read, outline, and prepare to discuss a brief article from a general audience or business audience publication about accounting and/or the accounting profession. The article should have been published within the past eight months and should relate to accounting or the accounting profession in general; it should not be about some technical accounting issue. The appropriate search terms to use are "accountants," "accounting," and/or "accounting (specific topic)."
Required:
Find, read, outline, and prepare to discuss a brief article from a general audience or business audience publication about accounting and/or the accounting profession. The article should have been published within the past eight months and should relate to accounting or the accounting profession in general; it should not be about some technical accounting issue. The appropriate search terms to use are "accountants," "accounting," and/or "accounting (specific topic)."
Explanation
Verified
Verified
Accounting profession:
Accounting is the profession of accountants whose business is to record business transactions in a systematic and comprehensive manner. Their work includes summarizing, analysing and reporting those financial statements to different users like organization, government and investors etc. Accounting helps in creating financial statements using the Generally Accepted Accounting Principles (GAAP).
The future of the accounting profession by Muhammad Azizul Islam on Feb 17,2017.
This article discusses about the following changes in the accounting profession expected to be encountered by the year 2025:
1. Smart and Digital technologies:
Accountants will have to learn and study smart technologies to enhance their knowledge of various software systems and work smartly.
2. Globalization:
The employment opportunities will be increased due to globalization and increasing needs of the various global businesses.
3. Regulations:
More strict and effective regulations about to happen because of massive tax avoidance, transfer pricing and money laundering. There will be a huge impact on the accountants in inter-governmental tax actions to limit their profit shifting and evasion of taxes.
4. Teaching and Research implications:
Accountants will have various implications in the fields of teaching and research. Lot of training is needed to the new comers of the industry in the field of commerce and accounting. These needs shall be fulfilled by the experienced accounting professionals in the future.
Research in the fields of cloud computing, data analytics, software developments, big data and various other technological changes to improve the accounting and preventing frauds attached to it.
Accounting is the profession of accountants whose business is to record business transactions in a systematic and comprehensive manner. Their work includes summarizing, analysing and reporting those financial statements to different users like organization, government and investors etc. Accounting helps in creating financial statements using the Generally Accepted Accounting Principles (GAAP).
The future of the accounting profession by Muhammad Azizul Islam on Feb 17,2017.
This article discusses about the following changes in the accounting profession expected to be encountered by the year 2025:
1. Smart and Digital technologies:
Accountants will have to learn and study smart technologies to enhance their knowledge of various software systems and work smartly.
2. Globalization:
The employment opportunities will be increased due to globalization and increasing needs of the various global businesses.
3. Regulations:
More strict and effective regulations about to happen because of massive tax avoidance, transfer pricing and money laundering. There will be a huge impact on the accountants in inter-governmental tax actions to limit their profit shifting and evasion of taxes.
4. Teaching and Research implications:
Accountants will have various implications in the fields of teaching and research. Lot of training is needed to the new comers of the industry in the field of commerce and accounting. These needs shall be fulfilled by the experienced accounting professionals in the future.
Research in the fields of cloud computing, data analytics, software developments, big data and various other technological changes to improve the accounting and preventing frauds attached to it.
Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
