Financial Accounting Essay

1356 Words 6 Pages
Accounting has been around for thousands of years, there is proof that demonstrates that ancient Egyptians keep inventory records of goods in storage. In 1494, Luca Pacioli, wrote the first accounting book which mainly focused on double entry. Even though accounting has been around for many years it wasn’t until around 1880 that accounting higher education started in the U.S. In 1887 The American Institute of Certified Public Accountants (AICPA) was formed, but it wasn’t until 1896 that the CPA certification was established. New York was the first state to approve the title of Certified Public Accountant, requiring accountants to pass an examination in order to become certified.
The first female to obtain the CPA certification in the U.S.
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CPAs are a need, not only for businesses, but for individuals as well; they are no longer considered just number crunchers, they are now more like financial advisors who can help with taxes, financial analysis, audit support, investment advice, and planning services. Most companies won’t make a financial decision unless they run it by their accountant first, after all, their accountant is the person who has the most accurate information about the company’s finances. CPAs are respected professionals since most people are aware of the long process and hard work required to obtain the …show more content…
Every individual and company, no matter the size, needs an accountant. CEOs and business owner don’t make decisions unless they consult with their accountants first. Although CPAs always work with numbers, they have the possibility to explore different industries with no need to modify or change careers, which also allows them to gain knowledge about other industries. The opportunities are endless; they can work in industries like communications, food and beverage, sales, and even with the government. Once a Doctorate is acquired, an accountant can even teach. If they decide they want to have their own business, having the CPA certification allows them to do so by opening their own accounting firm, or venturing in other businesses related to the profession, like a tax agency.
There is a lot of competition in the accounting field, requiring accountants to have further preparation than what they already have. According to Baker (2008), intellectual capital is the intangible value of a business. Nowadays, accountants speak more than two languages, they travel the world, and feel comfortable working with people from different cultures, after all, it is the 21st century, and the accounting world is identified for their virtual development; having virtual teams and offices makes it easier to meet the needs of their clients all around the world (Boyd, Boyd, &

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