Accounting 101

Business Disciplines

There are many disciplines that are necessary to run a commercial business. There are people who man the phones and run the lobbies to welcome visitors. There will also be those produce the products you promote. Others will be involved in providing services to clients, whether consultants, sales personnel, designers, craftsmen or even service technicians that perform their duties on the road. 

Companies Need Accountants

Companies, large and small, also need accountants. These individuals are the ones that do the counting that is necessary for every business to know where they stand, financially. This is where 

business and technology come together.

What is Accounting?

Accounting is the art of counting things. The things they count are the income and expenses accrued due to business operations. Every financial event that happens, within the context of doing business, is recorded into a system that can help to manage it for reporting purposes. The major reasons for accounting are to prepare normal tax reports and to illustrate to shareholders and financial institutions what the financial condition is of the business at various times during the year.

Accounting Technology

In years gone by, all of the math needed to make the numbers understandable was performed by hand, first on clay pots, then Papyrus, paper and then on computers. There are many computer programs designed specifically to accept the numbers counted and to do all of the mathematical manipulations necessary to present the financial condition of the company in such a way that shareholders can know what is happening and it can also be used to secure financing, if necessary for future expansion. If you want help finding such a computer program, you can check out this helpful guide.

Accounting Skills

Accounting is a position that requires schooling and additional training. The requirements are to have basic and advanced math skills, a good concept of economics, as well as, in today's modern world, a knowledge of computers and the software that assist them in this valuable work, for which no business can operate profitably.