Definitions
Financial situation based on a running corporation/business.
What are some things that came with primitive accounting?
Stone age, Bartering, and creation of currency. (two of three answers at least)
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What does someone need at the minimum to get a job in finance?
Generally, someone will need at least a bachelor's degree.
What does a financial planner do?
Work with clients to create plans that ensure an individual's current and future finances are in order.
What is financial Accounting?
Preparing a company’s public financial statements.
1800-1950
What are some accounting jobs?
Public accounting, Tax accounting, forensic accounting, financial controller, auditor, credit supervisor, and bank branch manager. (At least two)
What is something an accountant does?
•They work with individuals, small businesses, large corporations, non-profits, and government agencies to prepare and organize financial and tax documents.
•Organizing and maintaining financial records
•Evaluating financial operations and making recommendations
•Examining account books and accounting systems
•Preparing tax returns and related tasks
•Examining financial statements
•Suggesting ways to increase revenue, reduce costs, and improve profits
According to our accounting interviewee, how long did it take to get to her position as a senior consultant?
Seven Years.
What is the definition of Accounting?
Accounting is the process of recording, classifying, analyzing, and interpreting business transactions that can be measured in terms of money.
What time was the preanalytical period?
1495-1799
What are some financial jobs?
Financial Planner, Investment Bank analyst, Commercial Banking, Treasury Management, and Chief Financial Officer.
According to our accountant interviewee, what does a normal day look like as an accountant?
You will be sitting on your computer most of the time , looking at transactions and documenting transactions.
How does a master's degree help in finance?
It helps prepare students for more specific areas of finance, such as risk management, investment analysis, and trading
What is public accounting?
Covers a wide range of services, including preparing and issuing public financial reports for a company, providing business consulting services or personal financial planning services, and preparing tax returns.
What is the Emergent Period?
The first recorded practice of accounting, dating to primitive civilization.
What is the average salary of a Chief Financial Officer?
$128,000
what does Finance involve?
It involves the use of credit and debt and investments to finance current projects using future income flows
What are the three main types of finance?
Public Finance, corporate finance, and personal finance.
What is Finance?
Defined as the management of money, and includes activities such as investing, borrowing, lending, budgeting, saving, and forecasting.
What Led to the development of uniform accounting practices to accommodate tax laws?
Government Regulations
What does the average senior public accountant make?
$162,000
What does public finance study?
Government activities which may include spending, deficits, and taxation
What are the four main areas of accounting?
Public accounting, Management accounting, Government Accounting, and Internal accounting.