AB 209 week 3 Discussion Accounting

Accounting

The importance of accounting cannot be downplayed in any given business and organization or business. The functions of accounting such as monitoring and recording transaction analyzing transactions and determining their effect crucial to the health of any business. Without a doubt accounting or some skills of it plays a central in the following advertised jobs; senior accountant and administrative manager.

In both jobs there is need to maintain accounts records in accordance to records retention policy. It also involves maintaining an order entry, preparation and analysis of senior management reports. The accountancy background needed for one to be a senior accountant is the possession of an accounting degree and CPA, a master’s degree will be a plus while for the administrative manager the requirement is a bachelor’s degree in a business related course but one must also have some experience in accounting.

Job duties

Senior accountant

Administrative manager

1. Provide assistance to divisional controller as requested
2. Sales incentive program accounting
3. Review and sign off of various general ledger journal entries
4. Prepare and distribute customer index price change calculations

I would choose to be a senior accountant over becoming an administrative manager and that is because accounting goes beyond maintaining good records. It makes sure that the best financial decisions are being made and the business isn’t losing money unnecessarily by sealing all loopholes. The accounting department also ensures that all obligations such as wages and taxes have been paid for.

1. Maintain all aspects of inventory in business software
2. Maintain an internal production/order management
3. Maintain several secondary reports such as product returns, past due payments and eBay listings
4. Maintain order entry for online store

Reference

Lee, T. (n.d.). The Accounting Entity Concept, Accounting Standards, and Inflation Accounting. Accounting and Business Research, 176-186.