Accounting Careers

Question 1

Accounting Clerk

Answer 1

• A clerical job, does routine matters
• Records transactions and keeps documents as proof
• Balances the ledger
• Prepares the payroll
• Carries out banking transaction
  (Mostly data entry)

Question 2

Accountant

Answer 2

• Broader, responsible for the entire accounting system
• Ensures that GAAP standards (accounting rules) are met
• Interprets the data
• Prepares reports

Question 3

Auditor

Answer 3

• Examines and verifies the accountants work
• Expresses an opinion about the business’ financial position and result of operations

Question 4

CPA

Answer 4

• Need an undergrad degree and 6 modules
• Practical experience at accounting firm for 3 years
• Need to pass CFE (Common Final Exam)
• CFE - 3 day national exam (3x to pass)
• CPA’s mainly deo audit, taxation, bankruptcy, forensics, mergers and acquisitions
• Avg income $69,000 (easily $100,000 +++)

Question 5

Forensic Accounting

Answer 5

• Complete CPA first
• Power to search business premises without a warrant
• Investigate: fraud, non compliance of GAAP’s etc