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What Is Accounting? | Introduction to Business



What is accounting?

Definition of accounting major

The accounting major is a type of academic specialization that gives a certificate to students who have completed their studies in the accounting major, whether from a college, university, or business school. Accounting specialization is the study and analysis of financial reports, determining profit and loss for a specific period, in addition to explaining the value and nature of the resources available to the company, the means used to finance these resources, and what are the potential effects of their use. Accounting includes applying knowledge related to:


  • Preparing reports and analyzing financial information for management.
  • Audit financial records.
  • Provide advice on tax matters.
  • Perform internal audits.
  • Transaction recording systems.

Types of accounting specialization certificates

There is a special certificate for each level of education in the major of accounting, and among the most common certificates:

  • Assistant Certificate: in which a certificate is given to university students who have completed two years of study, and it is designed for students who have completed high school studies, or people who have a degree in higher education development, and this certificate qualifies its holders to work in junior positions, such as accounts agent.
  • Bachelor’s degree: is granted to students who study accounting after obtaining a high school diploma or a certificate in higher education development. This certification requires 3-4 years of full-time study to complete, and this degree must be obtained to be able to work as a certified public accountant.
  • Master’s degree: is usually given after about two years of study to students with a Bachelor’s degree; As this certificate qualifies its holder to work in most managerial positions in the field of accounting.

the accounting

Areas of specialization in accounting

A bachelor’s degree in accounting can qualify its holders to work in non-profit organizations or government agencies, such as the Federal Bureau of Investigation, or the tax authority, and graduates may work in the field of accounting for their benefit, or in an accounting firm, or corporate finance management, Graduates are also qualified to work in:

  • Judicial accounting.
  • Public accounting.
  • internal audit.
  • Tax examination.
  • Governmental accounting.

Accounting major courses

Degree of Associate Accountant

Among the courses offered to students of the assistant accountant degree:

  • Introduction to Accounting.
  • Cost accounting.
  • Computerized Accounting.
  • Administrative Management.

Bachelor’s degree

Some of the courses offered to Bachelor’s degree students:

  • Financial Accounting Theory and Practice.
  • Accounting Entities.
  • Introduction to Financial Accounting.
  • Cost accounting.
  • Income Tax Accounting.
  • Introduction to Managerial Accounting.
  • Auditing Theory and Practice.
  • Accounting Entities.

Master’s degree

Some of the courses that can be offered to masters degree students:

  • Taxation of Business Entities.
  • Advanced Financial Accounting.
  • Partnership Taxation.
  • Federal Income Taxation.
  • Financial Statement Analysis and Recording.

accountant job

Accountant duties and tasks

Often the tasks and duties of the accountant are similar in most companies and institutions and they have one framework, but they may differ in procedures, as for their essence there is no difference in it, as the accountant performs the following manual work:

  • Supervises basic financial documents and accounting books by recording financial operations in the books of the department.
  • It documents the entries, records, exchange documents, and all supporting papers related to the department’s accounts.
  • Records purchases and sales according to official invoices.
  • Organize and coordinate documents prepared for exchange.
  • Organizes and records accounts, as well as the procedures related to them. Prepares periodic reports on accounts and financial analysis.
  • He collects the department’s revenues according to cash receipts, and then deposits them in the bank.
  • Prepares the bank reconciliation memo, or monthly bank account interview.
  • The fund account is matched with various accounts and data on a daily basis.
  • The trial balance is prepared monthly.
  • Financial audits, checks, and periodically strikes the records, funds and financial restrictions in the department to ensure their safety.

Accountant work

As for the work of the accountant on the computer, it shall be as follows:

  • Enters all information on exchange orders, invoices, receipts, and settlements in the general journal of the various accounts.
  • Matches the balances and totals of the various accounts with the balances and totals recorded in the general journal.
  • Maintains an integrated copy of all accounting reports in the required and organized manner, because it is considered a substitute for manual records.
  • It continues to print all kinds of financial and accounting reports.
  • Extracts all data and information required to prepare the final account of the department or company.

Accounting objectives

There are a set of goals for accounting, including:

  • Determine the profit and loss from the department or the company’s activity during a specific period of time.
  • Determine the financial position of the company, represented by the source of money and the uses of this money at the end of the specified time period.
  • Calculate and know the net cash flows of the company for the same specific time period.
  • Record all financial operations in the department.
  • Providing an effective means and method for controlling the financial operations of the department or company.

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