Accountancy firms

Vividly, every government has to comprehend its income, debt and inflation rate, all of which are determined by utilizing accounting concepts and skills. For that reason, this reflection paper aims at highlighting the importance of accounting as a profession, reasons for choosing it, as well as speculating its future, especially as my career. Analysis Beside provision of the much-needed outlook of a business, accounting is imperative in boosting a firm’s image through the disclosure of corporate social responsibility (CSR). Jones and Jonas (2011) revealed that many companies realize the importance of disclosing the amount spent on CSR activities in a bid to boost public relations. However, for this to happen, the accounting firms garner contracts to aid firms with the requirement. Though it is not…

Identify two current skills you could improve upon to be more successful in accomplishing your career goals. Two skills I can improve upon would be time management and being fluent in my other languages. Time management is a key factor in being successful in any field, although I try and manage school, work, and social life; sometimes one of them suffers due to the lack of being able to manage time efficiently. Being able to meet deadlines will be crucial when being employed at a firm. Becoming…

more than 6 hours of accounting courses (and also not included in the 24 hours of accounting courses). Principles or introductory courses such as your freshman year financial accounting course will not qualify for the 48 required hours of accounting and business courses. While you must obtain 150 semester hours for licensure, anyone with 120 semester hours (including B.A.) with an accounting concentration or equivalent may sit for the exam. You must not only pass the exam after meeting the…

Where the shared resources are limited to common audit methodology or audit manuals, with no exchange of personnel or client or market information, it is unlikely that the shared resources would be considered to be significant. The same applies to a common training endeavor. Where, however, the shared resources involve the exchange of people or information, such as where staff are drawn from a shared pool, or a common technical department is created within the larger structure to provide…

much, not enough time with the family, not enough pay, and so on. My American Dream would include a good job and lots of money, spare time for my family and I, and most importantly, healthiness. First, money is very important in my American Dream for obvious reasons. Money gets you food. Money gets you shelter. Money gets you nice things. I believe that money, lots of money, is a big part of everyone?s American Dream; everyone including myself. When most people think of money the…

For firms, competitive advantage and success go hand-in-hand. Because so many firms are judged on their profit margin, having a high competitive advantage that allows the firm to dictate prices and drive down costs is key. Thus, firms are constantly seeking out how they can increase their advantage in hopes that it will result in increased profits. This push to have a high competitive advantage leads firms to examine five key elements that are used in determining a firm’s advantage: established…

The inter-firm networks have a strong impact on the firm capabilities of the business systems. In the following paragraphs we introduce the main concepts, identifying the main inter-firm types among the different advanced business systems. We also show two examples of contrasting countries, where inter-firm networks have shaped the way capabilities are developed. To start with, in order to analyse how inter-firm networks affect firm capabilities, we will discuss the context in which we will use…

external to a firm that are beyond the firm’s control. However, they do affects the firm’s strategy and profitability and affects affects porter’s five forces in various ways. The general environment consists of six segments namely: Demographic, technological, economic, sociocultural, political/legal and global. Firms need to vigilantly track the different segments and assess changes in event in any of this segment that would affect performance. The firm should use scenario planning and have a…

Distinctive competencies When the word distinctive competency is utilized, it implies competencies that differentiates individual’s competencies from its rivals and provides him/her benefits over its opposition. Distinctive competencies are utilized for companies and also for people. For instance, wall mart rivals against other major chains stores. It has the benefits of minimal prices and wide range. These competencies provide it the benefit over different chains due to there is value and…

A firm can increase its grasp on an industry in many different forms in order to increase its diversification. One way for a firm to increase its diversification is to undergo an acquisition. General Electric has been through numerous acquisitions including some recently. The reasons behind these acquisitions led to many different options. Well the acquisitions that General Electric has undergone seem to working efficiently, many different difficulties could occur. An acquisition can be…