BBC Content Team
Finance: Introduction to Accounting
Updated: Sep 14, 2019
Accounting is an important part of any business as it is a means of keeping track of your financial records. However, within accounting you also have to be able to interpret and manipulate the numbers to figure out exactly where certain things happen. While some people believe accountants will be replaced by robots, that does not seem likely until far in the future. What is far more likely is that the way accountants do their job day to day will change and become more digitized with each coming year. This is part of what makes accounting such a competitive field. Some key characteristics needed for accounting include adaptability, diligence, and mathematical skills.
There are three different types of entities an accountant can work for. Either a corporation in which ownership is split up based on stockholders, partnership where there are multiple owners of the business, or sole proprietary. Another key factor in becoming an accountant is the accounting statements. These vary based on which type of ownership the business has. For example, since a corporation does not have owners per say, they do not have a owners equity section, they have a stockholders equity section. Being an accountant requires you to know all the ins and outs of how your company operates financially.
As long as you put in the work and go to the right schools, you can be an accountant. All it really comes down to is work ethic. If you want it to happen, you can make it happen. Being an accountant may sound tedious and not exciting but it pays well and you have a lot of job security.
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Accounting I Introduction, www.peoi.org/Courses/Coursesen/ac/fram1.html.