1. Accounting career.

When deciding on a future career a lot of people don't give accounting a

second thought. Most people don't realize how varied the world of accounting is
and in fact it is often seen as boring. The truth is that accounting is the backbone of
any organization and offers a wide number of attractive careers within it.
Accounting is more than just reporting financial data. A good accounts team
actually works to save the company money by minimizing the tax payable and
delaying payments so companies can earn interest from their banks.
The accounting staff often need to perform various tasks from meeting
clients to helping with loan applications.
There are some qualities that a potential accountant should have. Firstly, all
accountants need to be perfectionists unwilling to accept anything less than an
exact result. Also, they need to have a good eye for detail and a real love of
numbers.
Accountants have to follow very strict rules and codes of conduct in order to
make sure that they do everything in a legal way. If an accountant breaks these
rules they could face severe punishment, but some accountants practice creative
accounting to get around rules without breaking them.

2. Auditors
Auditors are the police of the accounting world and when they are called
into a company it is their job to ensure that the accounts were done in the correct
way and that everything was accounted for. The most feared of these auditors are
the government auditors who are sent to companies suspected of somehow
breaking the rules. Working as an auditor is very different from other accountancy
work as there is no routine; you work in many locations and have contact with
many people. Although, you should be thick-skinned as often the accounting staff
in companies do not like the idea of being audited.

3. Introduction into accounting

Accounting is the process of collecting detailed records on a company’s
business activities and presenting them in a clear simplified form that the
company’s management can easily understand.
Accountants are responsible for recording financial activity, and a
company’s business records are known as accounts.
The most common collocations with this word are accounts payable and
accounts receivable. Accounts payable are bills and expenses that company owes
but has not yet paid. Accounts receivable are payments that a company is owed
but has not yet received.
The basic principles of keeping a company's accounts are very simple. All
flows of funds in and out of the company need to be recorded, with clear tracking
of debits and credits.
 This recording of transactions is known as bookkeeping, since it involves
preparing "books" or more likely computer records, with financial information
about the company.
A ledger is a book or a computer file where a company’s financial activities
are recorded.

4. Users of accounting information

There are internal and external users of accounting data.
The internal users of accounting data are managers of the firm or
organization. Accounting provides data in four basic spheres: financing, resource
allocation, production and marketing.
The external users of accounting data are:
1. stockholders;
2. creditors and lenders;
3. employees and their unions;
4. customers;
5. Government agencies.
They use the information that relates to a firm as a whole and is provided in
the form of financial statements.
Financial statements provide the information on a firm’s financial position,
they compare what the company owes to what it owns, what it earns to what it
spent.
5. Accounting process
The accounting process is a series of activities that starts with a transaction
and includes these major steps:
Preparation and analyzing of transaction’s source documents (receipts,
invoices, orders);
Making entries in journals in chronological order.
Posting journal entries to the ledger.
Preparation of a trial balance.
Correction of the trial balance
Preparation of a financial statement.