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What is Accounting?

The American Accounting Association defines accounting as "the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information."

Accounting is an information science used to collect, classify, and manipulate financial data for organizations and individuals. Accounting is instrumental within organizations as a means of determining financial stability. Accountants are responsible for determining an organization's overall wealth, profitability, and liquidity. Without accounting, organizations would have no basis or foundation upon which daily and long-term decisions could be made. The budgets for marketing activities, profit reinvestment, research and development, and company growth all stem from the work of accountants. Accounting is one of the oldest and most respected professions in the world, and accountants can be found in every industry from entertainment to medicine.

Related Career Titles


Fund Raiser Administrator
Commodities Trader Industrial/Institutional Buyer Bookkeeper
Industrial Buyer International Trade Specialist Business Teacher
Assistant Controller IRM Consultant Commodities Trader
Computer Programmer Management Accountant Contract Administrator
Internal Auditor Production Manager EDP Auditor
Auditor FBI Agent External Auditor
Consumer Credit Officer Managerial Accountant Financial Investment Analyst
International Trade CIA Agent Industrial Transportation
Bank Examiner Financial Analyst Insurance Agent/Broker
Controller Methods/Procedures Specialist Inventory Control Specialist
Inventory Control Specialist Claims Adjuster IRS Investigator
Benefits/Compensation General Auditor Administrative Services Mgr
Cost Accountant Payroll Manager Property Accountant
IRS Investigator Collection Agent Student Affairs Manager
Budgetary Control Analyst Governmental Accountant Systems Analyst
Credit and Collection Personal Financial Planner Tax Compliance Specialist
Loan Administrator Commercial Banker Television/Film Producer
Certified Public Accountant Industrial Accountant Tax Lawyer
Entrepreneur Plant Accountant Tax Specialist
Loan/Consumer Credit Professor Treasurer
Chief Cost Accountant Public Accountant Treasury Mgmt Specialist
Estate Planner Securities Broker Trust Accountant
Management Consultant Stockbroker Underwriter
Chief Financial Officer Systems Analyst Tax Accountant
Accountant, Public Practice Sales Manager Tax Supervisor/Auditor
Lawyer - Audit Manager Systems Accountant Treasury Management
Budget Accountant Computer Programmer Employment Agency Counselor
Claim Adjuster/Examiner Cost Dept. Supervisor Financial Aid Director

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Related Major Skills

Problem solver Numerical computation Oral and written communication
Adapt well to frequent change Analyze and interpret data Computer literacy
Organized Critical thinking Systemizing skills
Efficient Work independently Logical thinking
Team work

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Professional Association Links

Miscellaneous Resources

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