You can study accounting in combination with a range of business subjects at Strathclyde. You’ll also explore how accounting can be developed to meet the needs of society and provide information to investors. Typically these degree courses offer you a lot of flexibility with regards to time. The School of Accountancy in the Coles College of Business offers an intensive one-year Masters of Accounting degree that many students complete immediately after their undergraduate degree. Knowledge of accounting software such as Quickbooks and Microsoft Excel is needed. Our Accounting (ACC) diploma program will prepare you for a range of challenging entry-level accounting positions in virtually every segment of the Canadian and global economy.
While basic accounting functions can be handled by a bookkeeper, advanced accounting is typically handled by qualified accountants who possess designations such as Certified Public Accountant (CPA) in the United States, or Chartered Accountant (CA), Certified General Accountant (CGA) or Certified Management Accountant (CMA) in Canada.
Well in simple terms accounting is the comprehensive system of gathering and recording financial information of a business for the purpose of preparing summaries for tax authorizing, investors, managers and other who make decisions within the companies or organizations that they are involved in. The accounting terminology or terms can get tricky at times and you may need to keep handy an accounting glossary that explains the terms in plain language if you are a beginner.
You’ll feel more confident with the process while getting maximum use out of your accounting software. Accounting has been taught and practiced as a discipline for centuries, and it continues to evolve as practitioners and researchers of accounting encounter ever-changing business, financial, and legal issues. In most cases, accountants use generally accepted accounting principles (GAAP) when preparing financial statements.
For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified. There should be uniformity in accounting processes and policies from one period to another. Recurring financial activities reflected in the accounting records in the normal course of business.