Accounting Introduction Part 3

Accounting Career Opportunities

     1.     Public Accounting

Public accounting is an area of accounting in which the accountant offer expert service to the general public. A major portion of public accounting involves auditing. Auditing is the examination of financial statements by a certified accountant in order to express an opinion as to the fairness of presentation. Taxation is another major area of public accounting. It involes tax advice, tax planning, preparing tax returns and representing clients before govermental agencies. A third area in public accounting is management consulting. It is an area of public accounting ranging from development of accounting and computer systems to support services for marketing projects, merger and acquisition activities.

     2.     Private Accounting

      Private or managerial accounting is an area of accounting within a company that involves such

      activities as :

-          Cost accounting

-          Budgeting

-          Design and support of accounting information systems

-          Tax planning and preparation

      3.     Opportunities in Goverment

 Another option is to pursue one of accounting opportunities in govermental agencies. For the  example, IRS ( Internal Revenue Service ), FBI ( Federal Bureau of Investigation.

      4.     Forensic Accounting
   Forensic Accounting is an area of accounting that uses accounting, auditing and investigate skills to conduct investigation into theft and fraud. Forensic accountants often have FBI, IRS or similar goverment experience.

Accounting Introduction Part 2

The Basic Accounting Equation

Basic Equation :

Assets           =          Liabilities + Owner Equity

This relationship is the basic acoounting equation. Assets must equal the sum of liabilites and owner’s equity. Liabilities appear before owner’s equity in the basic accounting equation because they are paid first if a business is liquidated.

There are three catogeries in the basic accounting equation

     1.     Assets

Assests are resources a business owns. The business uses its assets in carrying out such activities as production and sales. The common characteristic possessed by all assets is the capacity to provide future services or benefits.

    2.     Liabilities

Liabilities are claims against assets that is exisiting debts and obligations. Business of all sizes usually borrow money and purchase merchandise on credit. All of the persons or entities to whom a company owes money are its creditors. Creditors may legally force the liquidation of business that doesn;t pay its debts. In that case, the law requires that creditor claims be paid before ownership claims.

     3.     Owner’s Equity

The ownership claim on total assets is owner’s equity. It is equal to total assets minus total liabilities.

Increase in Owner’s Equity

-    Investments by Owner. They are the assets the owner puts into the business. These invesment increase owner’s equity. They are recorded in a category of owner’s capital.

-  Revenues. Revenues are the gross increase in owner’s equity resulting from business activities entered into for the purpose of earning income. Generally, revenues result from selling merchandise, performing services, renting property and lending money. Common sources of revenue are sales, fees, services, comissions, interest, dividens, royalties and rent.

            

Decrease in Owner’s Equity

-   Drawings. They are withdrawal of cash or other assets from an unincorporated business for the personal use of the owner(s).

-    Expenses. They are the cost of assets consumed or services used in the process of earning revenue.

In summary, owner’s equity is increased by an owner’s investment and by revenues from business operations. Owner’s equity is decreased by an owner’s withdrawals of assets and by expenses. This format is referred to as the expanded accounting equation.

Expanded Equation :

Assets     =  Liabilites + Owner’s Capital – Owner’s Drawings + Revenues - Expenses

KASIR

Kasir merupakan petugas yang berfungsi sebagai penerima dan pembayar uang atas perintah atasan. Selain itu, kasir juga mengurus kelancaran transaksi uang antara pelanggan dan pemasok, mengkoordinasikan outlet / showroom, melakukan pemasaran dan pelayanan pasca jual, merealisasikan target penjualan, mencatat fisik kas yang diterima dan yang dikeluarkan. Fungsi lainnya adalah melaporkan arus kas secara harian dalam buku atau formulir standar yang sudah dibuat serta membuat laporan harian transaksi jual beli, mengecek persediaan barang dan membantu bagian accounting dalam menyusun laporan keuangan perusahaan.

Tujuan adanya kasir dalam suatu perusahaan antara lain :

·                     Mempertahankan pelayanan terhadap pelanggan 

·                    Membantu perusahaan dalam melakukan proses penjualan secara tepat 

·                     Mengelola arus kas

·                     Menerima pembayaran baik melalui tunai atau kredit

Tugas kasir adalah

·                    Mengelola arus kas keuangan

·                    Menyerahkan seluruh dokumen transaksi pada bagian accounting