ACC-250 Career Preparation_25 points out of 25

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Grand Canyon University *

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250

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Accounting

Date

Feb 20, 2024

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Uploaded by danienek

Daniene Khanmanivanh ACC-250 February 7, 2021 Dr. Gary Almy Career Preparation What is accounting? What are the career opportunities in accounting? Is the discipline of accounting my purpose? According to Miller-Nobles et al. (2017), accounting is defined as the systemic processing that records and measures financial transactions into reports that communicate the outcome to decision-makers (para. 1 pg. 2). Accounting was discovered centuries ago, transpiring in Mesopotamia which has developed into the intricate business of today (Fremont College, N.d). The scope of accounting is used on a daily to assist in making business decisions. From 2016 to 2026, the U.S Department of Labor revealed that the number of occupations for accountants and auditors will increase by 10% (AccountingEdu.org, N.d.). The three different career opportunities within my accounting discipline are public accountant, government auditor, and internal auditor, as government auditor appears to be the most exciting profession. To become an accountant within a public sector one must be familiarize with government accounting regulations such as Generally Accepted Accounting Principles (GAAP), Financial Accounting Standards Boards (FASB), and Government Accounting Standards Board (GASB). Becoming a Certified Public Accountant (CPA) will be a gateway to the top-tier position within the three career opportunities. The purpose of this paper will cover the desire accounting career opportunities, the research of that position, and its impact on my studies along with my future career. 1

Therefore, within the study of accounting, public accountants, government auditors, and internal auditors, career opportunities appear to the most appealing. Public accountants provide services to various clients ranging from taxpayers, businesses, government agencies, non-profits, and educational institutions to conduct financial reports for an external audience. Compared to a public accountant, government auditors work for public sectors that audit entities, contracted to provide services to government or organizations receiving government grant money (AccountingEdu.org, N.d.). Internal auditors focus within the organization to prevent unreasonable risks such as fraud and theft or the compliance of laws and regulations. Public accountants and government auditors geared to the external audience. As to an internal auditor, provide internal information within the organization to decision-makers. To narrow it down, a government auditor would be the most appealing career within my discipline. Moreover, with a better understanding of a government auditor which is define as working within a public sector to maintain and records of government entities (AccountingEdu.org, N.d.). Also, auditing private businesses and people who pay taxes. Auditing is to complete a systemic examination of a company's financial statement and records (Miller-Nobles et al., 2017). There are additional government rules requiring government auditor to audit entities that receive government funding or provide contract services. It reports that entities are appropriately utilizing government funding as outline in the contract for services. By the practice of fund accounting that identifies each fund with a purpose, using the basic accounting equation of Assets = Liabilities + Equity. Public sector accountants must be adhered to rules set by Generally Accepted Accounting Principles (GAAP) and Federal Accounting Standards Advisory Board (FASAB) that covers federal guidelines (AccountingEdu.org, N.d.). Also, regulations by Government Accounting Standards Board (GASB) which covers state and 2

local public sector (AccountingEdu.org, N.d.). Becoming a Certified Public Accountant (CPA) is considered a gateway to government accounting to hold top tier positions such as government auditor. Furthermore, the outcome of the research has influenced my studies along with my future career. The information from the analysis of government auditing has heightened my interest to continue my studies in accounting. Especially the areas of auditing entities receiving government grant money. Government accounting is mainly considered by fund accounting practice that records and categorizes funds for a specific purpose. Each category of funds uses the accounting equation of Assets = Liabilities + Equity. Each step is crucial as it intertwined with one another. It is vital to grasp and understand accounting, the language of business. It is also essential to learn and understand the main accounting rule book of GAAP and government accounting regulations. To become a Certified Public Accountant that will be a gateway to hold top tier career opportunities within the government sector. A better understanding of accounting and the desire career opportunity has given me a purpose to continue my discipline in accounting to reach my future career goal. In conclusion, discovering the desire career opportunities in accounting with research outcome of government auditor has impacted me to pursue my accounting studies to reach my future career within a government sector. There were doubts if this discipline of accounting was my purpose in life. At the beginning of the course, I was timid and uncertain, then I prayed, asking for comfort, guidance, and strength to pursue my dreams of becoming a CPA within a government sector. Taking a more in-depth search of my chosen study and career has given me a direction in an accounting area that is most appealing. I am confident that the position of a government auditor within a government sector is my purpose. Understanding that the study of 3

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accounting, this course, and future courses will be intensive, I am determined to stay focus and motivated to reach my future career. The discipline in accounting is my purpose, and I will obtain a degree in accounting that will lead me to become a CPA with a profession as an auditor for a government sector. 4

References AccountingEdu.org. (N.d.). Educational resources and exams for accountants and CPAs. AccountingEdu.org. A State by State Accounting Guide. Retrieved from https://www.accountingedu.org/ Fremont College. (N.d.). History of accounting. Business College. Business Leadership. Retrieved from https://fremont.edu/history-of-accounting/ Miller-Nobles, T., Mattison, B., & Matsumura, E. M. (2017). Horngren's accounting, the financial chapters, student value edition plus MyLab Accounting with Pearson eText (12th ed.). Upper Saddle River, NJ: Pearson. ISBN-13:9780134486789 5