The three top major careers in accounting are public accounting, private accounting, and government accounting. They all share the accounting characteristics yet each is a specialized division with different procedures and rules to follow for each method.

The salary range for accountants range from $20,000 to $100,000. Yet the extended jobs within the accounting field can pay much higher. Those fields include a Controller or Comptroller, and CFO or Chief Financial Officer. They have the responsibility of overseeing the fiscal duties of the company.

Based on the experience the salary will continue to increase. The CPA or Certified Public Accountant earns much more each year. Most CPAs belong to an accounting firm or have a private practice that earns them higher incomes. They provide essential services to many aspects of a business including the yearend accounting and even the payroll services for a business. They prepare the financial tax returns and even audit the business’s activities throughout the year.

It is a very detailed profession so it takes time and dedication to be an accountant. The need to be aware of details with different areas of the accounting and bookkeeping functions is necessary. This career does have special qualifications to reach the CPA status such as a four-year college degree, working in the public accounting sector, and passing a state provided test.

The CPA is required by various state laws, which do vary state-to-state, continued education so they are able to stay current on all the accounting laws and requirements. It is a highly respected profession with many organizations and affiliations to help each individual continue to grow within the industry.

The accounting field has other degrees other than the CPA level, known as a bookkeeper. This position does not have the same qualifications, duties, or responsibilities. The bookkeeper is responsible for the day-to-day accounting functions for businesses. The bookkeeper can be involved in the payroll functions of the business or they can be strictly the accounting functions. Usually the bookkeeper does process the payroll and is responsible for paying the payroll taxes.

Whether deciding to be a CPA or a bookkeeper, it will take at least a two-year degree. Most bookkeepers have a four-year degree but decided not to pursue the CPA degree.

If you enjoy numbers and working with different detailed paperwork, then accounting is a career you will enjoy.

The education levels required for the medical careers start with a two-year degree and progressing up to the four-year degree then onto the master’s degree for doctors and surgeons. They have specialized fields so they are required to obtain specialized skills for each type of service they perform.

There are many fields of study within the medical field including, nurse’s aides, registered nurses, physicians, cardiovascular technologists and technicians, dental hygienists, diagnostic medical sonographers, opticians, and radiologic technologists and technicians.

As with any profession, many of the levels require continual additional training an education to stay abreast to the newest medical advancements in the constant changing medical field. There are always new medical breakthroughs to be researched and studied. The career advancement opportunities change as much as the technology so this type of career has ever-increasing potential for the health care individuals.

The individuals going into a medical career need to like and enjoy working with the public. They will be constantly around the public since they are providing a much-needed service for general population. They need to be caring and compassionate why displaying tenderness and sympathy in certain situations. It is a tough career in some situations where there is sometimes a life or death situation involved.

The medical career is highly rewarding and highly prestigious as well as appreciated. Think about the last time you visited your doctor and the treatment you received there and the many levels medical personnel you encountered. They were all friendly and helpful. That is what the medical career is all about, helping patients and being a friendly smile and helping hand when needed.

The medical career is one career where the professional is on all levels. They have thorough training on every level and are expected to always be friendly, warm, and helpful. They provide a service that everyone needs and appreciates especially at times such as in emergencies or surgical procedures. Think what the world would be like without the medical profession and you will want to join the many that are currently taking care of the people.

The individuals desiring to provide a service to the public where they can help to maintain the health and well-being of many people from different ages are the people who join the medical field. They are the people that go the distance in the time of need without failing to provide the care each person needs.

The physical therapists are highly trained professionals that specialize in different areas of rehabilitation based on the chosen field of study. They must attend a four-year college then additional training in their specialized field.

Due to the amount of schooling these individuals acquire they also have knowledge of different aspects in the medical field such as biology, chemistry, physics, and neuroanatomy as well as human growth, and development. To become a physical therapist, the individuals must pass a state exam to obtain their licenses. They are also required to take continue education and workshops.

The need for the physical therapist is still in high demand. The specialized techniques have grown over the years making the demand for therapist higher than in the past years. This occupation is growing faster than any other career and it is expected to continue to grow at astonishing rates for many years.

The annual salary for physical therapists range from $65,000 to $70,000 depending on the specialty and location of the job they perform. The home health care services pay a higher salary. The occupational therapists pay the lesser of the amounts.

The typical day of the therapist includes examining the patient’s medical history files, testing and measuring the patient’s strength, range of motion, balance, and coordination including their posture, muscle performance, and motor functions, the determining the property therapy plan for each individual patient.

It is with their vast knowledge that the therapist is able to access patients and provide the best possible solution for the recovery with each therapy session. This specialized therapy program will improve the patient’s ability to achieve a higher range of motion as well as recover from the incident they have suffered.

The therapist helps the patient return to a level of life that without the treatment the patient would never be able to have.

The therapy sessions have helped many patients learn to walk after strokes or amputation surgeries. They have taught the stroke victim to talk again and how to hold the cup of water or fork to eat. The services produce results many patients are forever grateful for receiving.

Being physical therapists is a rewarding profession that is highly appreciated on all levels in the professional career fields. It is a very distinguishing career that has many possibilities for advancement in the future based on the desires of the individual and the career they wish to pursue.

The career options for the computer science field include computer and information systems, networking, security, software engineer, computer systems analysts, computer hardware engineer, computer programmer, and computer support services.

The different careers require different levels of education and knowledge as well as different functions of the jobs performed. The salaries range from $20,000 to $110,000 starting at the computer support services progressing to computer and information systems manager.

The more education of the career the higher pay is involved. All of the computer science careers require at least a two-year degree with most preferring the four-year degree for each position. The more advanced positions require a master’s degree due to the complexity of the position and job requirements.

There are addition certifications are available through Microsoft and Cisco for computer specialties with their systems that also a highly creditable option for computer minded individuals. The certifications are available through online studies to make obtaining the requirements easier for the busy lives.

Due to technology requirements of society, the computer science field has become one of the highest sought after careers. It is a specialized field that reaches numerous lives and businesses so it is also a very secure career to have when seeking job stability.

The science of computers change all the time meaning it is career where continued education is required to stay current on the newest technologies. It is a very interesting career that provides pleasure for many who seek this career. The fact that is so embedded in the demands of so many people makes the career in high demand on all levels.

The average home has at least one computer while businesses have numerous computers. The networking field of computer science thus, reaches both home and business aspects of many people. Computer software support provides technical support for software and the many problems people face their software and computers.

Computer programmers are the experts that write the codes or language used by software. Computer hardware engineers provide the research and development on different levels of many computer systems. Computer software engineers design, test, and manage software programmers.

Computer systems analyst provide the behind the scene operations of the computer systems and functions from troubleshooting the various issues to implementation of new software installation. Computer and Information System Managers plan, coordinate, and direct the research and development of the computer services and programs.

As you can see, there are many different aspects of the computer technology careers to reach out to anyone interested in the various services relating to computers.

As per ICWA London “ cost audit is the verification of the correctness of cost accounts and of the adherence to the cost accounting plan.”

In cost audit auditor has to perform the following duties
1. Examine the correctness of the cost records maintained by the concern and
2. To report as to whether the cost accounting plans have been adhered to or not.

Cost audit is done to keep the cost per unit to the minimum.

Object of cost audit – Following are the basic object of cost audit –

1. To verify the correctness of the cost accounting records.
2. To find out whether the principles of cost accountancy have been fully and correctly applied in maintaining cost records.
3. To search for the deficiencies in the cost record system of the company.
4. To attain efficiency in cost accounting systems and procedures.

1. Compulsory nature – Financial audit is compulsory for all the companies registered under companies act, 1956.

Cost audit is not compulsory for all the companies. Only in the case of manufacturing or mining companies they have been specifically asked by the central government to maintain cost accounts under section 209 and get those accounts audited under section 233b.

2. Purpose – The purpose of the financial audit is to report on the profit and loss account and balance sheet as to whether they show true and fair view of the business or not.
The purpose of the cost audit is to certify that whether the expenditure incurred on the production of items has been incurred prudently or not.

3. Expression of opinion – The financial auditor has to comment upon the accuracy of the transactions recorded and the cost auditor has to comment upon the correctness and wise ness of the decisions taken in production of items.

4. Instance – Financial audit is conducted at the instance of the shareholders.

Cost audit is done at the requirement of third parties like government, industrial organizations etc.

5. Appointment – Financial audit is appointed normally by the shareholders in the general meeting whereas the board of directors with the previous approval of the central government appoints a cost auditor.

6. Recurrence – Financial audit is conducted every year whereas a cost audit may be done in the year in which it is required by the government or any other agency.

7. Stock – In financial audit auditor has to check the exact value of closing stock for the purpose of balance sheet, whereas in the cost audit the auditor has to check the adequacy of the stock keeping in view of the needs of the concern.

8. Report – In the financial audit the report is submitted to the management to be laid in the general meeting of the shareholders, the report of the cost auditor is submitted to the company and also to the central government within 180 days from the end of the company’s financial year to which the cost audit

• Absence of audit trail – In the computerized accounting and processing it is possible that there may not exist the proper working sequence that is available in a manual accounting system. As a result it may pose serious hindrance for the checking of the auditor. For example, in a manual accounting the purchase vouchers are first entered in the purchase book then the entries are posted to the ledger.

From ledger accounts the trail balance is made. Trial balance makes the base for the preparation of the profit and loss account and the balance sheet. In an edp accounting, the data may be available in the final stage only after being entered in to the system. An auditor may fine only the end figure to verify, without getting the intermediary records. This makes his job of verification little difficult. Manipulations might have been done in the records that may be difficult to detect.

• Chances of manipulations – the records kept on computer are more vulnerable to manipulations. Best were the days when the accounting was done in the bounded books. Any changes in such records were noticeable immediately. Neither the figures could be changed, nor any pages of such records could be removed.

Now in an edp accounting figures as well as pages could be changed with the stroke of a finger. Moreover such after changes are not visible at all. Therefore the auditor should be very careful while checking the computerized accounts. It should be kept in mind that it might contain manipulations.

• Leakage of confidential information – It is very easy to copy delete or steal the records maintained on a computer. Any person who has an access to the computer can copy any important file or record within a fraction of a minute. The records kept on a computer should be properly guarded also.

• Computer virus and other failures- Records maintained on computer are prone to much distortion. The most important of such problems is the virus that can damage the whole data within no time. Computer and software breakdowns can damage the hard disc of the computer and as such the data may be lost permanently.

Proper safeguard against such misshapenness should be made. One solution for such problems is that proper backup of all the records be made and kept at a secure place.

According to sap-6 entitled, “Study and evolution of the accounting system and related internal control may be defined as “ the plan of organization and all the methods and procedures adopted by management’s objectives of ensuring as far as practicable the orderly and efficient conduct of its business including adherence to management policies the safe guarding of assets, prevention and detection of fraud and error, the accuracy and completeness of the accounting records and the timely preparation of reliable financial information. The system of internal control extends beyond those matters which relates control directly to the functioning of accounting system.”

Internal control is a combination of the following:

1. Financial controls, and
2. Other controls

According to the institute of chartered accountants of India internal control is the plan of organization and all the methods and procedures adopted by the management of an entity to assist in achieving management objective of ensuring as far as possible the orderly and efficient conduct of its business including adherence to management policies, the safe guarding of assets prevention and detection of frauds and error the accuracy and completeness of the accounting records and timely preparation of reliable financial information, the system of internal control extends beyond those matters which relate to the function of accounting system. In order words internal control system of controls laid down by the management for the smooth running of the business for the accomplishment of its objects. These controls can be divided in two parts i.e. financial control and other controls.

FINANCIAL CONTROLS

• Controls for recording accounting transactions properly.
• Controls for proper safe guarding company’s assets like cash stock bank debtor’s etc
• Early detection and prevention of errors and frauds.
• Properly and timely preparation of financial records I e balance sheet and profit and loss account.
• To maximize profit and minimize cost.

Other control – Other controls include the following:

• Quality controls.
• Control over raw materials.
• Control over finished products.
• Marketing control, etc

Work rotation – The job among the clerks should be rotated over a period of time so that no one should occupy one position for a long period of time. Holding the same position over a period of time gives that parson chances of manipulations and his errors may also remain undetected.

Delegation of authority – There should be clear-cut delegation of authority. Every worker should know that they should be allowed to work within the level of their authority.

Fixing the responsibilities – responsibilities of all the workers should also be fixed. They should know that they are responsible for a particular type of errors or frauds.

Separating custodian and record keeper – A person who is responsible of keeping custody of a particular asset should never be the person responsible to record transaction regarding it.

Relying on internal check system – Before starting an audit, auditor should examine the internal check system if it is present in the organization. If the check system is efficient, he can rely on it and depend on test checking for the completion of audit.

He should carefully examine the system and then work with caution, if on the other hand during the checking of the books of accounts some point come to his thoroughly, if he ignores those irregularities and later on errors and frauds remain undetected he may be held liable a good internal check system can reduce the extent of work that an auditor has to put for doing the audit but in no case it can reduce his liability. Ultimate responsibility remains with the auditor.

Therefore, it is up to him to decide that how efficient is the internal check system and to what extent he can rely on it he should make a decision and then he should decide the level of his checking.

The management lays down internal control. This system contains plan methods and procedures of work done by various departments of an entity. It is the total system of controls and includes two basic parts:

1. Financial Control System, and
2. Other Control System.

1. Financial Control System – This part of internal control system deals with aspects relating to the financial matters. For example, control over bank accounts: control over cash in hand, bills payables, debtors and creditors.

In this control system payments received by the organization and payments made by the organization are totally controlled. It ensures that cash may not be misappropriated. For maintaining such a control, proper entries in books of accounts have to be maintained regarding the receipt and payments of cash.

2. Other Control Systems – Other Control Systems involve controls relating to the other activities of the organization. For example, production, advertising, marketing, quality etc.

First part of internal control system is a very important to the auditor as it deals with the financial matters. Second part is not so important to him.

Before starting the audit, auditor should study the internal control system of the organization thoroughly. It helps him to decide the extent of checking during the conduct of audit. If the auditor finds out the weaknesses in the system or its operation, he reports it to the management by a letter. Such a letter is called ‘letter of weakness’.

This letter of weakness lists down the areas of weakness in the system and offers suggestions for improvement. It helps management to amend the systems.

If the organization has good internal control system, the auditor can reduce the extent of checking and depend upon test checks. Otherwise, he has to conduct detailed checking during the audit.