Mrs. Townlian Accounting January 19 Accounting means planning, analyzing and interpreting financial information. Or less commonly known as the art of recording, classifying, summarizing, remarkably, in terms of money, transactions and events usually of financial classification (“Accounting Users”). Accounting allows those who deal with financial numbers and processes to keep close focus on financial decisions and transactions. There are various types of accounting, including financial, managerial, government, fiscal, forensic, project, and social. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Most of the time it is financial and management, whereas finance produces financial statements needed outside of accounting and management to keep accounts in order and private (“Types of Accounting”). Accounting is important because owners and customers want to know how their money and accounts are managed. You can find many people using accounting, including internal and external users. Internal users or "Primary users" include managers, employees and owners. Management uses accounting to evaluate effort and work to know how to improve in the future (“Accounting Users”). Employees use accounting to track data, profitability, and complete financial tasks for customers owners use accounting to evaluate profit, room for expansion, and what things require investment or additional attention (“Accounting Users”). In addition to primary users there are secondary users. These include authorities such as Murphy's tax or regulatory bodies, along with creditors, investors and customers. These authorities usually check credibility and tax returns, but also reassure that companies are taking all required privacy and protection measures. Employment for accountants and auditors is projected to grow 10% between 2016 and 2026, faster on average than other jobs (“ Bureau of Labor Statistics ”). As the economy strengthens, the need for accountants and auditors also increases, as they continue to manage and compose legal documents. The development of the use of computers and online accountants is not expected to reduce the demand for accountants. If affected by these developments, there will be employment opportunities considering that these online documents will need to be supervised. Most of these accounting or auditing positions require a bachelor's degree in accounting or similar fields. Although only a bachelor's degree is required, most employers prefer a master's degree in accounting or business administration ("Bureau of Labor Statistics"). Only a few universities offer specific audit programs. On average, those attending graduate programs will be involved in junior programs with surrounding companies to enhance skills and position ("Bureau of Labor Statistics"). A Certified Public Accountant (CPA) certificate is required to legally file reports and accounts. To become a CPA you must pass a national exam and meet state requirements ("Bureau of Labor Statistics"). Including 30 extra hours of university courses. Because of these requirements, most accounting programs are 5+ year degrees. Please note: this is just an example. Get a custom paper from our expert writers now. Get a custom essay The average annual salary for this occupation is 68,150 ("Bureau of Labor Statistics"). Most of these workers work longer").