Accounting : Making a Profit

Accountants are responsible for preparing three primary types of financial statements for a business. The income statement reports the profit-making activities of the business and the bottom-line profit or loss for a specified period. The balance sheets reports the financial position of the business at a specific point in time, ofteh the last day of the period. and the statement of cash flows reports how much cash was generated from profit what the business did with this money.

Everyone knows profit is a good thing. It's what our economy is founded on. It doesn't sound like such a big deal. Make more money than you spend to sell or manufacture products. But of course nothing's ever really simple, is it? A profit report, or net income statement first identifies the business and the time period that is being summarized in the report. 

You read an income statement from the top line to the bottom line. Every step of the income statement reports the deduction of an expense. The income statement also reports changes in assets and liabilities as well, so that if there's a revenue increase, it's either because there's been an increase in assets or a decrease in a company's liabilities. If there's been an increase in the expense line, it's because there's been either a decrease in assets or an increase in liabilities. 

Net worth is also referred to as owners' equity in the business. They're not exactly interchangeable. Net worth expresses the total of assets less the liabilities. Owners' equity refers to who owns the assets after the liabilities are satisfied.

These shifts in assets and liabilities are important to owners and executives of a business because it's their responsibility to manage and control such changes.  Making a profit in a business involves several variable, not just increasing the amount of cash that flows through a company, but management of other assets as well.

Personal Accounting

If you have a checking account, of course you balance it periodically to account for any differences between what's in your statement and what you wrote down for checks and deposits. Many people do it once a month when their statement is mailed to them, but with the advent of online banking, you can do it daily if you're the sort whose banking tends to get away from them. 

You balance your checkbook to note any charges in your checking account that you haven't recorded in your checkbook. Some of these can include ATM fees, overdraft fees, special transaction fees or low balance fees, if you're required to keep a minimum balance in your account. You also balance your checkbook to record any credits that you haven't noted previously. They might include automatic deposits, or refunds or other electronic deposits. Your checking account might be an interest-bearing account and you want to record any interest that it's earned. 

You also need to discover if you've made any errors in your recordkeeping or if the bank has made any errors.  

Another form of accounting that we all dread is the filing of annual federal income tax returns. Many people use a CPA to do their returns; others do it themselves. Most forms include the following items:

Income - any money you've earned from working or owning assets, unless there are specific exemptions from income tax. 

Personal exemptions - this is a certain amount of income that is excused from tax. 

Standard deduction - some personal expenditures or business expenses can be deducted from your income to reduce the taxable amount of income. These expenses include items such as interest paid on your home mortgage, charitable contributions and property taxes. 

Taxable income - This is the balance of income that's subject to taxes after personal exemptions and deductions are factored in. 

Accounting : Bookkeeping Basics

Most people probably think of bookkeeping and accounting as the same thing, but bookkeeping is really one function of accounting, while accounting encompasses many functions involved in managing the financial affairs of a business. Accountants prepare reports based, in part, on the work of bookkeepers.

Bookkeepers perform all manner of record-keeping tasks. Some of them include the following:

» They prepare what are referred to as source documents for all the operations of a business - the buying, selling, transferring, paying and collecting. The documents include papers such as purchase orders, invoices, credit card slips, time cards, time sheets and expense reports. Bookkeepers also determine and enter in the source documents what are called the financial effects of the transactions and other business events. Those include paying the employees, making sales, borrowing money or buying products or raw materials for production. 

» Bookkeepers also make entries of the financial effects into journals and accounts. These are two different things. A journal is the record of transactions in chronological order. An accounts is a separate record, or page for each asset and each liability. One transaction can affect several accounts. 

» Bookkeepers prepare reports at the end of specific period of time, such as daily, weekly, monthly, quarterly or annually. To do this, all the accounts need to be up to date. Inventory records must be updated and the reports checked and double-checked to ensure that they're as error-free as possible. 

» The bookkeepers also compile complete listings of all accounts. This is called the adjusted trial balance. While a small business may have a hundred or so accounts, very large businesses can have more than 10,000 accounts. 

» The final step is for the bookkeeper to close the books, which means bringing all the bookkeeping for a fiscal year to a close and summarized. 

Job Search - Get Referrals from Warm Contacts

You may find it hard to use networking to find a job if you can't rely on your warm contacts to give you the information you need.  At times, you would have to ask your warm contacts to refer you to at least two people that they know who will be able to give you the information you needed.

However, there are times that your warm contact, particularly those who don't know you well, may not readily provide you with the information.  Some of your warm contacts may feel reluctant about vouching for you to their other contacts.

Because of this, you may find it difficult to use your network.  To make networking and getting referrals an easy task for you, here are a few tips.

* Nurture your warm contacts.

Before you even need your warm contacts or before you even ask for help, keep in touch with your warm contacts.  You may send notes or greetings from time to time, call to "catch up" on them, invite them to lunch, be interested or help in their business or do anything just to cultivate your connection with them.

In this way, by the time you need help, they can remember you and can more readily give information about their other contacts that will be able to help you.

* Be polite.

Since you might not have close personal relationships with some of your valuable warm contacts, it is inappropriate to just give them a call and ask them for information about your field of interest.

Sometimes, sending a note in advance, or asking to meet them for lunch is a better way to ask for their help.

* Listen to them.

Most of the time, even if your warm contact knows little in the field where you are trying to find a job, they might offer you advice.  Be polite and interested in what they are saying.  Who knows, the information that they are giving may be valuable to you in the future.

There are times that your warm contacts may be telling you tips on what manner will work best when you talk to the persons to whom you are being referred.  Your warm contacts may also imply what qualities and qualifications the person is looking for.

* Ask for at least two referrals.

Before you ask for referrals, make sure that your warm contact had said everything that he or she can say about your field of interest.

Even if they know little about that field, it is impolite if you cut them short while they are speaking to ask if they know somebody who will be able to help you.

If they weren't able to refer you to at least one of their contacts, thoughtfully ask them why they couldn't do so.  They may give you answers that may include indirect comments or suggestions.  They may also indicate a lack of confidence in your work strategy.  If this is so, you may have to make follow ups with them to prove that you are indeed credible and match their requirements.

However, there are also times when they can't refer you to their contacts because they just don't know anybody who might have the information or might be interested in the product.  

In this case, ask them to keep their eyes open for opportunities that you might be interested in.  You can also leave with them copies of your resume. 

* Just ask for two referrals.

Two referrals are enough from each warm contact.  This is to have another option in case the first one didn't work out.  Asking for more than two referrals could be impolite as it can take much time from your warm contact.  Also, that will make your warm contact feel that you are relying mostly on him or her for your job search.  So, unless they volunteer the information, don't ask for more than 2 referrals.

* Contact referrals as soon as possible.

When your warm contacts give you referrals, there are times that they also call these people personally to give more information about you.  On the other hand, when you contact the people to whom you were referred, your referrals may call your warm contacts to verify the information or to ask more information about you.

Either way, you have to contact your referrals soon enough that these people can still remember their conversation with your warm contact, or your warm contact can still remember that you have talked.

At times, after your referrals were called by your warm contacts, they anticipate your call and even prepare questionnaires and exams for you to take.  Do not waste this opportunity by delaying follow-up on referrals.

Resume : Effective Way To State Your Responsibilities

If you have never written a resume, the blank page you are facing can be very intimidating. While you can describe your job responsibilities to your friends, listing them out in a resume and showcasing how your experience to date meets your career objectives is a very difficult task.

To get started, you must first consider what type of a job you are seeking. Much like your career objective or summery should reflect your professional goals, your current and past experiences must showcase that you are the best candidate for the job you are applying for. In listing your current and past professional experiences, try to focus on those responsibilities that indicate you are qualified to take the next step in your career. Due to the fact that more and more companies as well as job search sites use scanning software to pick out candidates, it is very important that you use key words, including active verbs, to describe your skills. Instead of beginning your job descriptions with “Responsible for” try to use active verbs such as:

• managed
• developed
• created
• communicated
• interfaced
• achieved, etc. 

These key words get straight to the point of describing your responsibilities, which is exactly what the employers are looking for. Chose these words carefully – don’t say that you “managed a project”, implying you were responsible for the whole task from start to finish if you were only responsibly for communicating the project to other associates. Instead state that you “Developed and executed the communication strategy for associates,” describing your role more accurately and emphasizing your strengths.

Typically, the first job listed on your resume is the one you currently hold. In this case, make sure that your responsibilities are stated in present tense, as you are still responsible for them. For example, say “Manage accounting activities” instead of “Managed accounting activities.” This will indicate to your potential employer what your day-to-day activities are like and how they compliment responsibilities of the job you are submitting your resume for. All previous jobs should be listed using past tense, and should start with active verbs such as managed, developed, accomplished, etc.

Additionally, make sure that responsibilities you are listing are relevant for to your career objective. List only those responsibilities which help you put your best foot forward. For example, if you are looking for a job that requires managing a team of people, focus on your development and participation in group projects instead of focusing on solitary activities such as office organization.

In terms of formatting, make sure that your responsibilities are listed in bullet points. This formatting is preferred to paragraphs on a resume because it is easier to review quickly. Employers simply scan the resumes and look for key words – if the resume looks overwhelming, with a lot of copy and poor formatting, they will likely discard it. Thus, it is very important that your resume is formatted with enough white space and doesn’t contain any errors.

The Interview - Seize the Opportunity and the Job

So, you’ve submitted a killer Curriculum Vitae and supporting documents. You’re ahead of the pack and have just received a call for an interview. What do you do next?

The interview is the most stressful and important part of job hunting. This is where the employers make a decision based on his or her impression of whether to hire you for their job. You will want to do your best in this part because here lays the culmination of all your job hunting efforts. Flub it here and all your efforts from application to examinations will go down the drain.

1. Make a Great Impression
Always dress in your best attire for the interview. Your attire should be appropriate.  No matter what the company may require for their employees, the first impression for applicants should be conservative business attire.

2. Do a Little Research
One of the best ways to make a good impression on your interviewer is to do a little research on the company you are applying for. This will equip you with material to answer many of the questions the interviewer will ask. One of the main points of the questions you will be asked is how your skills can benefit the company. If you know a thing or two about the company, you will find it a lot easier to answer this question. Plus, dropping a few meaty tidbits about how much you know about the company will go a long way in impressing the interviewer.

3. Watch Your Body Language
Many of the interviewers are well versed in body language, and you will find that, throughout the interview, they will be looking for hints about your personality from the way you act, talk, and move. It would be abnormal to assume a different set of body language during the interview. What you should do is to take note of your body language so that at least it communicates openness and honesty.

Avoid telling lies or embellishing your answers. Experienced interviewers will notice this in an instant. Always keep your palms open and avoid crossing your legs or your arms together. Do not be afraid to make eye contact while speaking; just make sure that you do not come across as intimidating.

4. Confidence
Walk in with a purpose. Answer with a purpose. Try not to be too self-conscious. Make sure you are confident in what you say. If you hit a snag and find yourself in a compromising situation, make sure you handle the situation confidently – even when saying that you do not know an answer to a question.
Confidence reflects competence. Employers always look for competent people to fill their ranks.

Accounting : Profit and Loss

It might seem like a no-brainer to define just exactly what profit and loss are. But of course these have definitions like everything else.  Profit can be called different things, for a start. It's sometimes called net income or net earnings.  Businesses that sell products and services generate profit from the sales of those products or services and from controlling the attendant costs of running the business. Profit can also be referred to as Return on Investment, or ROI. While some definitions limit ROI to profit on investments in such securities as stocks or bonds, many companies use this term to refer to short-term and long-term business results. Profit is also sometimes called taxable income.

It's the job of the accounting and finance professionals to assess the profits and losses of a company. They have to know what created both and what the results of both sides of the business equation are. They determine what the net worth of a company is. Net worth is the resulting dollar amount from deducting a company's liabilities from its assets. In a privately held company, this is also called owner's equity, since anything that's left over after all the bills are paid, to put it simply, belongs to the owners. In a publicly held company, this profit is returned to the shareholders in the form of dividends. In other words, all liabilities have the first claim on any money the company makes. Anything that's left over is profit. It's not derived from one element or another. Net worth is determined after all the liabilities are deducted from all the assets, including cash and property. 

Showing a profit, or a positive figure on the balance sheet, is of course the aim of every business. It's what our economy and society are built on. It doesn't always work out that way. Economic trends and consumer behaviors change and it's not always possible to predict these and what income they'll have on a company's performance. 

Accounting : Careers

There are many different careers in the field of accounting ranging from entry-level bookkeeping to the Chief Financial Officer of a company. To achieve positions with more responsibility and higher salaries, it's necessary to have a degree in accounting as well as achieve various professional designations.

One of the primary milestones in any accountant's career is to become a Certified Public Accountant or CPA. To become a CPA you have to go to college with a major in accounting. You also have to pass a national CPA exam. There's also some employment experience required in a CPA firm. This is generally one to two years, although this varies from state to state. Once you satisfy all those requirements, you get a certificate that designates you as a CPA and you're allowed to offer your services to the public.

Many CPAs consider this just one stepping stone to their careers. The chief accountant in many offices is called the controller. The controller is in charge of managing the entire accounting system in a business stays on top of accounting and tax laws to keep the company legal and is responsible for preparing the financial statements.

The controller is also in charge of financial planning and budgeting.  Some companies have only one accounting professional who's essentially the chief cook and bottle washer and does everything. As a business grows in size and complexity, then additional layers of personnel are required to handle the volume of work that comes from growth. Other areas in the company are also impacted by growth, and it's part of the controller's job to determine just how many more salaries the company can pay for additional people without negatively impacting growth and profits. 

The controller also is responsible for preparing tax returns for the business; a much more involved and complex task than completing personal income tax forms! In larger organizations, the controller can report to a vice president of finance who reports to the chief financial officer, who is responsible for the broad objectives for growth and profit and implementing the appropriate strategies to achieve the objectives.

Tips : Executive Job Search

It is normal for every person to strive for career advancement and growth. It makes them feel that all of their hard work has paid off and that a promotion is, indeed, the best reward they can get.

However, for some whose luck seems to be so illusive, they have to find their own growth somewhere else. That is why most of them opted for executive job searches, where they hope that someday they would be lucky enough to find the executive job that they have long been dreaming for.

But is it really just luck? Or are there some factors that need to be considered when searching for that executive job of their dreams?

Landing a good executive job is not dependent on luck.  For people who wish to learn some tips regarding executive job searches, here are some pointers on how to get that dream job:

1. Killer looks

The saying, “Looks could kill” is not an understatement. Though the word kill is only used literally and the word look is sometimes associated with stares. But what is being pointed out here is that looks can definitely kill a person’s chances on landing his or her executive job if the applicant had missed one great factor: appearance.

As the saying goes, first impressions last, so it would be better to make that first impression by looking just right for the job.  After all, if a person wants to have an executive job, then, he should dress appropriately for the position. In this way, the executive job he had been searching for might just become a reality.

2. Show some mastery 

For an executive position, most employers would want to hire those who are already an expert in their own field. This means that the applicants should be adept in the areas concerning their chosen careers. This will show that the applicant has already started a coherent career track and is already knowledgeable in the field.

It will do no good to an applicant who claims to be a “jack of all trades but a master of none.” Six out of 10 applicants are hired because of their expertise on a certain field. This only means that employers are more concerned with people who have already mastered their career and have established continuous career growth.

Finding an available executive job could be one thing but actually getting that dream executive job is another thing.  Looking and acting the part is a must to landing that dream job!

Accounting : Book keeping

So what goes on the accounting and bookkeeping departments? What do these people do on a daily basis? 

Well, one thing they do that's terribly important to everyone working there is Payroll. All the salaries and taxes earned and paid by every employee every pay period have to be recorded. The payroll department has to ensure that the appropriate federal, state and local taxes are being deducted. The pay stub attached to your paycheck records these taxes. They usually include income tax, social security taxes pous employment taxes that have to be paid to federal and state government. Other deductions include personal ones, such as for retirement, vacation, sick pay or medical benefits.  It's a critical function. Some companies have their own payroll departments; others outsource it to specialists.

The accounting department receives and records any payments or cash received from customers or clients of the business or service. The accounting department has to make sure that the money is sourced accurately and deposited in the appropriate accounts. They also manage where the money goes; how much of it is kept on-hand for areas such as payroll, or how much of it goes out to pay what the company owes its banks, vendors and other obligations. Some should also be invested. 

The other side of the receivables business is the payables area, or cash disbursements. A company writes a lot of checks during the course of year to pay for purchases, supplies, salaries, taxes, loans and services. The accounting department prepares all these checks and records to whom they were disbursed, how much and for what. Accounting departments also keep track of purchase orders placed for inventory, such as products that will be sold to customers or clients. They also keep track of assets such as a business's property and equipment. This can include the office building, furniture, computers, even the smallest items such as pencils and pens.

4 Must-Know Tips - Entry-Level Jobs 101

For most people, aiming for a higher position at once is the key to job search success. However, for some people who know that in order to succeed in the job market, they have to, literally, start from scratch. This means that people who want to grow positively in the working world; they have to learn the basics and fundamental principles of working, how it is to love the work most people do, and how to establish a good working relationship with his or her colleagues.

In order to enjoy all of these, one must submit himself or herself to an entry-level type of job. This refers to a job that requires minimal skills and expertise with no experience requirement needed. 

Because of its nature, entry-level jobs are characterized by low salary, require physical work, and sometimes need field work.

Most often than not, people who are into entry-level jobs have very low hourly rates and may or may not entail insurance. This would mean that any hospital expenses caused by accidents that happened while the worker is at work may or may not be compensated by the employer, meaning there is no guarantee or whatsoever.

What’s more, most entry-level jobs are on a part-time basis. Examples of entry-level jobs are receptionist, apprenticeship, those who are working in a fast food restaurant, customer service, cashiers, etc.

Contrary to popular belief, entry-level jobs should not be ignored.  What people do not realize is that entry-level jobs offer more than just low wages. These jobs are the foundation of all other positions available in the job market.

In most cases, people who start to work on higher positions right after they graduate from college are easily bored from their work. What is even worse, there is no room available for personal growth and career advancement.

Entry-level jobs are the stepping-stone to success in careers. So, for people who wish to grow and be promoted to a higher position, here are some tips that they can use:

1. Workers who are in the entry-level position should show enthusiasm, efficiency, caring, and love for his work.

2. They should master their skills and hone their craft.

3. They should be an expert on customer service.

4. They should know how to impress a customer who happens to be seeking an employee who knows optimum customer service.

These are just a few of the qualities that must be employed by an entry-level worker in order to advance to a higher position. And once he reaches the top, he knows that work is definitely something worth valuing for.

Accounting Principles

If everyone involved in the process of accounting followed their own system, or no system at all, there's be no way to truly tell whether a company was profitable or not. Most companies follow what are called generally accepted accounting principles, or GAAP, and there are huge tomes in libraries and bookstores devoted to just this one topic. Unless a company states otherwise, anyone reading a financial statement can make the assumption that company has used GAAP.

If GAAP are not the principles used for preparing financial statements, then a business needs to make clear which other form of accounting they're used and are bound to avoid using titles in its financial statements that could mislead the person examining it.  

GAAP are the gold standard for preparing financial statement. Not disclosing that it has used principles other than GAAP makes a company legally liable for any misleading or misunderstood data. These principles have been fine-tuned over decades and have effectively governed accounting methods and the financial reporting systems of businesses. Different principles have been established for different types of business entities, such for-profit and not-for-profit companies, governments and other enterprises. 

GAAP are not cut and dried, however. They're guidelines and as such are often open to interpretation. Estimates have to be made at times, and they require good faith efforts towards accuracy. You've surely heard the phrase "creative accounting" and this is when a company pushes the envelope a little (or a lot) to make their business look more profitable than it might actually be. This is also called massaging the numbers. This can get out of control and quickly turn into accounting fraud, which is also called cooking the books. The results of these practices can be devastating and ruin hundreds and thousands of lives, as in the cases of Enron, Rite Aid and others.

Best Jobs

Employers have said that they are more likely to be 12 percent more graduates this year than last year. It is the first projected increase since the year 2000. 

In another study, a projected 60 percent of US business plan to employ the same number of graduates this year as with last year. That is an increase of fifty-five percent from last year, according to the CERI (Collegiate Employment Research Institute) at MSU.

According to recent studies, US Corporations and businesses will employ more graduates with a bachelor’s degree in business, biological and physical sciences. Those with construction management, engineering degrees, health care and accounting will also experience an increase in hiring. Other fields will have a slight decline. 

On the average, companies are hiring forty three percent of its interns to fulltime and regular status. The expected increase in the hiring of graduates coincides with an expected growth forecast of the economy next year according to a recent survey by the Federal Reserve Bank. 

A lot of companies are coming out of a slump and are now hiring their interns and looking for more. A lot of companies are posting jobs and coming into different campuses. 

Most experts advise that during the holidays, whether you’re looking for permanent employment or internship, it is time to step up your search. 

Take advantage of the holiday events you’re going to, discuss what you’re looking for and your goals. Businesses don’t want to be flooded with calls and faxes of resumes. They will probably rely on word-of-mouth to get a handful of candidates The holidays are a perfect time to network.

What to expect:

Companies will hire more students earning bachelor’s degree in business and management, physical and biological sciences. Engineering, health care and accounting degrees also would experience an increase. Other degrees will experience a decrease in hiring

Businesses expect to employ about the same volume of MBAs this year as last year. Businesses have found employees with bachelor's degrees being able to do some work being done by MBAs.

It will be harder for graduates with computer science degrees to find work.

Companies are more likely to employ students who have undergone internships. The work experience, they say, makes a lot of difference. Federal agencies will employ more graduates but not nearly enough to offset the decrease in hiring by the state and local government agencies.

On average, starting salaries will increase by 1 to 2 percent.

Basic Accounting Principles

Accounting has been defined as, by Professor of Accounting at the University of Michigan William A Paton as having one basic function: "facilitating the administration of economic activity. This function has two closely related phases: 

1) measuring and arraying economic data; 

2) communicating the results of this process to interested parties."

As an example, a company's accountants periodically measure the profit and loss for a month, a quarter or a fiscal year and publish these results in a statement of profit and loss that's called an income statement.  These statements include elements such as accounts receivable (what's owed to the company) and accounts payable (what the company owes). It can also get pretty complicated with subjects like retained earnings and accelerated depreciation. This at the higher levels of accounting and in the organization.

Much of accounting though, is also concerned with basic bookkeeping. This is the process that records every transaction; every bill paid, every dime owed, every dollar and cent spent and accumulated. 

But the owners of the company, which can be individual owners or millions of shareholders are most concerned with the summaries of these transactions, contained in the financial statement. The financial statement summarizes a company's assets. A value of an asset is what it cost when it was first acquired. The financial statement also records what the sources of the assets were. Some assets are in the form of loans that have to be paid back. Profits are also an asset of the business.

In what's called double-entry bookkeeping, the liabilities are also summarized. Obviously, a company wants to show a higher amount of assets to offset the liabilities and show a profit. The management of these two elements is the essence of accounting. 

There is a system for doing this; not every company or individual can devise their own systems for accounting; the result would be chaos!

Accounting : Assets and Liabilities

Making a profit in a business is derived from several different areas. It can get a little complicated because just as in our personal lives, business is run on credit as well. Many businesses sell their products to their customers on credit. Accountants use an asset account called accounts receivable to record the total amount owed to the business by its customers who haven't paid the balance in full yet. Much of the time, a business hasn't collected its receivables in full by the end of the fiscal year, especially for such credit sales that could be transacted near the end of the accounting period. 

The accountant records the sales revenue and the cost of goods sold for these sales in the year in which the sales were made and the products delivered to the customer. This is called accrual based accounting, which records revenue when sales are made and records expenses when they're incurred as well. When sales are made on credit, the accounts receivable asset account is increased. When cash is received from the customer, then the cash account is increased and the accounts receivable account is decreased. 

The cost of goods sold is one of the major expenses of businesses that sell goods, products or services. Even a service involves expenses. It means exactly what it says in that it's the cost that a business pays for the products it sells to customers. A business makes its profit by selling its products at prices high enough to cover the cost of producing them, the costs of running the business, the interest on any money they've borrowed and income taxes, with money left over for profit.

When the business acquires products, the cost of them goes into what's called an inventory asset account. The cost is deducted from the cash account, or added to the accounts payable liability account, depending on whether the business has paid with cash or credit.

What Is Accounting Anyway?

Anyone who's worked in an office at some point or another has had to go to accounting. They're the people who pay and send out the bills that keep the business running. They do a lot more than that, though. Sometimes referred to as "bean counters" they also keep their eye on profits, costs and losses. Unless you're running your own business and acting as your own accountant, you'd have no way of knowing just how profitable - or not - your business is without some form of accounting.

No matter what business you're in, even if all you do is balance a checkbook, that's still accounting. It's part of even a kid's life. Saving an allowance, spending it all at once - these are accounting principles. 

What are some other businesses where accounting is critical? Well, farmers need to follow careful accounting procedures. Many of them run their farms year to year by taking loans to plant the crops. If it's a good year, a profitable one, then they can pay off their loan; if not, they might have to carry the loan over, and accrue more interest charges. 

Every business and every individual needs to have some kind of accounting system in their lives. Otherwise, the finances can get away from them, they don't know what they've spent, or whether they can expect a profit or a loss from their business. Staying on top of accounting, whether it's for a multi-billion dollar business or for a personal checking account is a necessary activity on a daily basis if you're smart. Not doing so can mean anything from a bounced check or posting a loss to a company's shareholders. Both scenarios can be equally devastating.

Accounting is basically information, and this information is published periodically in business as a profit and loss statement, or an income statement.

Jobs Available Online

In the past, applying for a job meant looking through the classified ads in the local paper. The advent of the internet has created various job sites online making it easier for someone to apply for work in another state and in even in another country.

It has made the world a smaller place with everything at one’s fingertip and just a click away.  Most job sites will require a person to open an account, fill in certain information and deposit a resume. 

These sites usually ask for pertinent information such as the person’s name, age, address, contact number and social security number. 

Other information that will be requested are educational background.  Some companies prefer someone with a degree in a certain field or a licensed professional to do the job or perhaps a person who possesses a master’s degree.  

Employment history is also another thing that has to be mentioned. This includes the job description and highlights that you have experienced during your career. 

With the information provided, some of these sites offer a service with a fee that will match your qualifications with jobs that are available and enable you to apply for that position.  Some even promise to make your resume stand out over other applicants giving that person more priority over others but even that is a not a guarantee that one will get the job. 

One also has to mention the salary the person is receiving both in the current and previous jobs as this is matched with the job the individual wants and the salary one desires.

These sites offer various jobs to people. It caters to professionals and teenagers who want to work either for full time, part time or on a per project basis.  

Applying online is not only done through job sites. A lot of companies have websites that have a section on careers which one can access and check what openings are available. One simply has to go through the process of also giving certain information that is asked for and uploading one’s resume. 

The first impression employers or headhunters look at is one’s resume. Given that many people apply, this usually takes these people a short period of time to review and screen certain applicants before going to the next phase of being scheduled and called for an interview.

There are many jobs available in the market.  It just takes a little effort on one’s part to sit down in front of a computer and look for the right job. 

The Ideal Resume

When one goes for an interview, the potential employer has no idea of who the applicant is. In some cases, the person applied to the ad while others used a headhunter or job site on the internet and matched their credentials for the position. 

The first impression employers always look at is one’s resume. Given the many that apply, this usually takes about 30 seconds and so with the limited words, one must be sure that the resume is well written and grammatically correct. 

The resume must say almost everything about the person. This should always start with pertinent information such as the person’s name, age, address, contact number and social security number.  The details here are needed so if one is considered to be a potential employer, it will be easy for the company to get in touch with the applicant and be scheduled for an interview.

Next is the career objective which is the reason why the applicant wants to apply for the position. By putting a strong goal in mind and not a general one, the employer will see that this person has a direction which is why that person wants to work for the company.

The next section should include the relevant skills and knowledge one has had in the current and previous jobs as well as highlighting one’s major accomplishments. By putting in detail the things one has done in that position and experiences learned from it, that information is already basis for the employer to see the potential the applicant has for that position. It shows the qualities one possesses and the benefits one can contribute to the further growth of the company.

After that, the resume should show one’s educational background.  Some companies prefer someone with a degree in a certain field, a licensed professional to do the job or one who possesses a master’s degree.  By showing one’s credentials, it is a good indicator of the type of training one has possessed in school and the accomplishments one has achieved in the course of one’s career. 

The latter section should provide details such as hobbies, interests and character references.  Employers look at potential applicants who not only have the qualifications for the job but also those who also those who are well rounded. Being active in a certain organization and be seen as a leader in a group shows one’s social skills with others. Character references do the same and give people an idea how one performed working with that person.

There is no ideal resume. It depends on the job. It is an important step one must pass before being called for that first interview.

Tips : Job Search

If you’re not sure what to do, here’s a list that might help.

1. Know thyself.

Identify what really interest and excites you. Understand that these traits define you and use it to explore career choices and opportunities.

2. Take a career assessment test.

There are a lot of career assessment tests available online. Find the time to take one. The test gives you a lot of insights about your core competencies and work preferences.

3. Ask others.

It’s actually quite difficult to see yourself as others do. It would be to your advantage to ask friends and family on your traits and skills. Your co-workers are also a good source of information. Knowing how they perceive you, what they like and don’t like about you and what skills or traits need to be changed can be helpful in determining your professional profile. 

4. What moves you?

Would you be more interested in status or a six figure salary? Do you want to make a difference in your community and the world or just on your company’s net worth?

5. Take charge.

In the ‘80s, when you worked for a large company, you usually could conclude that you would be working there for your entire career.  In those days, the corporation drove your career path, advancing as it saw fit.

At the turn of the century, times have changed.  In the span of your career, you would probably work for at least five companies. In most cases, you will probably work for more than five.  Know which career track you desire, and make sure that track brings you to where you wish to go. 

6. Determine the company fit.

With the current emphasis on streamlined and productivity-focused companies, the cultural and company fit are just as important as the professional goals. Consider the values and principles of the company and compare them with your own.  It is important that you feel comfortable and fit in with company. 

7. Free your mind.

The career path you choose is about change and more change. It includes expansion and new opportunities. All of these changes require a desire to journey and discover.

8. Balance is the key.

A huge amount of time is devoted to your career when you are in your 20s and 30s. When you reach your 40s, your personal life might take precedence and maybe more important to you. Find a corporation that will provide you with a balance in your work and your life.

9. Don’t hang around.

If you’re not satisfied with the way your career is going, go do something. Always be in control of your career path to have a satisfying career.

Searching For An Accounting Job

Accounting graduates, have broader choices and specific paths to follow with their careers. Accounting requires a lot of skills when it comes to business and that is why every company has an employee that is an accounting graduate. If you are an accounting graduate, you can apply in any kind of firm. Areas may include tax, audit, financial analysis and management accounting.

It is best that you apply for a job that matches your interests and expertise. There are careers that have been proven by most accounting graduates to bring them to the top of the success ladder and you may want to consider entering these fields.

If you are an accounting graduate who excel in public accounting, the entry-level positions that best fit this skill are Tax Staff, Consulting/ Management Services and Staff Auditor. With these positions you will do your duties reporting to a senior. Once you have acquired three to six years of experience in any of these positions, you may then want to consider applying for the higher levels like Tax Senior, Senior Auditor, and Consulting Senior where the position entails reporting directly to a Manager. After six years of excelling with these potions, then you may consider the positions Partner level and Senior Partner.

Having an edge with corporate accounting, one to three years of experience will qualify you to become a staff member in Internal Audit, Tax Accounting, Management, and Financial Accounting. Moving up the higher lever after three to six years, you will be eligible for the Senior Level for Internal Audit, Tax Accounting and Management Accounting. Six years thereafter, you may want to consider aiming for the positions like the Tax Manager, Internal Audit Manager and Financial Accounting Manager.

Expertise in Financial Management, Staff for Financial Planning, Cash Management, and Credit Analysis are options for entry-level positions. Once you have gained the enough experience, you may aim for the Treasury Operations, Credit Analysis and Senior Financial Planning. Higher positions will include Treasurer, Manager for Credit Analysis and Financial Planning.

These career options are traditional paths that were found to fit best for accounting graduates.  However, it does not mean that they are the only way to climb up the success ladder. You should go beyond not just limit your skills to accounting. It is still recommended that you gain enough work experience, acquire knowledge in different aspects of education, and continue to improve your character to be a step ahead with other job seekers.