Специальность 080110 «Экономика и бухгалтерский учет

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1). Accounting is the language of business. If business enterprises are expected to operate under market conditions and to succeed as “self-financing” economic entities, the enterprise accounting and reporting must be based on the market-derived accounting principles. The decentralization of economic decision-making and the concomitant exercise of economic power by individual persons, firms and institutions, generate uncertainty; the participants in a market economy have to make various types of decisions. An essential input in the process of decision-making is information.

2). Accounting is the recording of the transactions of a business to reveal the financial position of the business. It permits the computation of tax liabilities and provides essential information. Accountants communicate financial information to many people. One branch of accounting, called managerial accounting, is concerned with providing the information that managers use in making decisions. Other accountants prepare financial statements for the general public, tax returns for federal, state, and local governments, and reports for regulatory agencies. The preparation of financial information for use outside the firm is known as financial accounting.

3). Public accountants are independent professionals who provide services for a fee. Some practice alone many have formed partner ships with other accountants, and a few have formed professional corporations. The title certified public accountants (CPA) refers to the holder of a license to practice public accounting. The license is granted by a state government to people who meet educational and experience requirements and pass a rigorous examination.

4). Public accountants offer a number of services to their clients. One of the main ones is auditing. Auditing is a process in which an independent accountant examines a firm’s records and financial statements and offers an opinion on their accuracy and reliability. Public accountants are also active in tax planning and preparation of tax returns. Some public accounting firms offer advice on marketing and production.

5). Accountants who are employed by business firms are known as private accountants. Their duties are cost accounting, capital budgeting, tax planning, and so on. Many accountants work for government and not-for-profit firms. A small group of accountants has the job of policing the accounting profession and setting standards for fair and accurate reporting.

6). The balance sheet lists a firm’s assets, liabilities and owners equity at a point of time. Changes in the balance sheet are made according to the principle of double-entry book-keeping. This principle made its appearance in the 13 th century in Northern Italy. It was improved and developed at the end of the 14 th century by Luca Pacioli, a monk and a University teacher. It states that each transaction must be recorded as two separate entries so that the totals of each side of the balance sheet will always equal one another. The double entry system divides each page into two halves. The left-hand side is called the debit side, the right-hand side is called the credit side. The balance sheet shows a lot of useful information, but it does not show everything. A firm’s sales, costs and profits for a given period are shown in an income statement.

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