A degree in Accounting can set students on a path to a strong career in business and finance. Accountants work for corporations, nonprofits, government agencies, and small businesses. They create financial reports, review income and expenses, prepare tax documents, and assure regulatory compliance. Some accountants even help track down financial criminals. Others take part in high-stakes investments. Accounting careers can either prove safe and predictable or exciting and dynamic, depending on the exact role.
Auditing refers to the process of examining financial reports and documents of an organization by a third party, independent of that organization. Auditing is closely related to Accounting, so auditors are typically accountants or economists who specialize in evaluating financial statements of businesses to ensure the accuracy of the information.
Internal auditing helps an institution to accomplish its objectives, by bringing a systematic economical approach to evaluate and improve the performance of risk management, control, and governance processes. External Auditing happens with people come from outside an organization to examine financial records and present an independent overview of the company’s financial health or legality of practices.
Skills you Acquire
While studying Accounting and Auditing, you will develop key skills and abilities related to numeracy and mathematical aptitudes, business acumen, economic and financial knowledge, general IT skills, self-motivation, attention to detail, as well as good time management and communication skills.
Accounting and Auditing studies also include a lot of Finance knowledge. You will acquire a solid background of professional economical experience and an understanding of the financial life and inner workings of financial departments of companies and institutions.
Internal auditors typically work in the private sector, independently, or as members of an accounting team. Their services are employed by trading companies, professional firms outsourced by client companies, corporations, charity organizations, and others. External auditors usually work for governmental bodies or as associates of certified accounting offices.
At the successful completion of the degree program, you will be able to:
describe and apply concepts from the accounting cycle including recording transactions and preparing financial statements for proprietorship, partnership, and corporations;
report and explain income and retained earnings and earnings per share;
analyze and report cost accounting including financial and non-financial information;
apply management accounting principles to analyzing resource allocation and performance measurement of organizations;
describe and apply technical and theoretical aspects in financial reporting and auditing;
determine the nature and amount of evidence of internal control over financial reporting;
prepare tax returns for individuals and corporate firms in compliance with the requirements of tax authorities;
describe and apply the concepts and theories of ethics as they apply to the field of Accounting