Accounting Career U3DB2 initial

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Accounting Topics Analysis
Accounting is one of the world’s most outstanding careers, which is applied in relatively all organizations. As a profession it entails a systematic and defined recording of all financial transactions involving a business or any relevant organization as mentioned at the beginning(Albrecht, 16).
Financial statements from a broader perspective are one of the most significant accounting tools that are used to demonstrate the results and details in regards to the financial position of a given company. The Most common varieties of financial statements that facilitate this entire process include the balance sheet, Statements pertaining income, Summaries on the cash flow, and variations in equity reports. This topic is significant since it helps to comprehend the accounting career, by providing the details as mentioned earlier. It is one of the core topics in the course objectives, whose role is to learn on the preparation of the statements discussed before.
The second topic refers to the analysis of financial statements. Such involves the process of analyzing or reviewing a particular organization’s financial statements, to facilitate effective economic decision making. It is an essential topic in the accounting career since, without it, companies won’t be able to have their financial details and hence poor financial related decisions will be made. It affects not only the subject organization but also the economy in a broader perspective.

This topic is associated with the course objectives in several outlines. For example, for one to be deemed fit in this course, analyzing of the financial statements is an essential requirement.
The Last topic, government and not for profit financial reporting involves several aspects of annual financial reports that Governmental and non-governmental organizations must file, and submit to the relevant bodies (Vasapollo, 16). For example, such details can be forwarded to tax bodies or other regulatory bodies. Such is a crucial topic since it helps students have the necessary information and requirements regarding the same. It also introduces them to the primary required legislation, which outlines procedural aspects of the same. The Connection between this topic and the course objective is that it enhances and introduces the student to the elements as mentioned above, which shall allow them to work in the different organizations.
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Work Cited
Albrecht, W. Steve, and Robert J. Sack. “The perilous future of accounting education.” The CPA Journal 71.3 (2001): 16.
Vasapollo, L. “The Basics of National Accounting.”The crisis of Capitalism. Brill, 2011. 51-66.