What is Accounting

Accounting provides the information necessary for evaluating the present and planned activities of complex organizations. It includes diverse services to individuals, business entities, and governments at all levels. Professional accountants develop and apply their skills in auditing, taxation, management policy, information systems, computer operations, and many other areas. As a result, accounting is currently a leading growth profession throughout the world. With instant communication facilities, easy international travel, and expanding world trade, accounting services have grown in scope and importance. Many Certified Public Accountant (CPA) firms and companies have extensive international operations.

New concepts and techniques are constantly being developed. The use of electronic data processing systems has relieved accountants of many of the routine tasks which were formerly performed manually. At the same time, the computer has increased the demand for skilled accountants to assist management in analyzing and summarizing the massive amounts of data generated. The computer has greatly increased accounting's effectiveness and has created new opportunities and challenges.

The Degree Program
Wright State offers an undergraduate program leading to the Bachelor of Science in Business degree with a major in accountancy which provides a solid foundation for entry into the accounting profession. The accountancy major also provides an excellent undergraduate background for students planning to go to law school or to pursue graduate studies in business. The Master of Accountancy program is designed for students who have obtained a bachelors degree in Accountancy and wish to pursue the additional coursework required to take the CPA examination in Ohio. The Department of Accountancy at Wright State has as its primary objective the development of qualified accountants who are able to pursue careers in either public, industrial, or not-for-profit accounting. This objective is met by:

• a program of study that is finely tuned to meet the contemporary challenges of the accounting profession and the business environment.
• a faculty that has extensive experience in public, industrial, and not-for-profit accounting and has published in the major accounting journals.
• an internship and cooperative education program designed to provide qualified accounting majors the opportunity for professional training and experience (at an attractive level of compensation) not obtainable in a classroom situation.
• an excellent working relationship with the greater Dayton area accounting and business community which exposes both students and faculty to the on-going problems and challenges of the profession.
• an active Accounting Club which sponsors tours and brings professional speakers to campus.

Careers in Accounting

Professional accounting careers are open to men and women of all nationalities and creeds. Success requires motivation, a commitment to service, and skill in communication and analysis. Also important are the abilities to work well with others, to think abstractly, and to solve problems systematically.

The presidents and board chairs of many of the nation's largest corporations are accountants. Other business leaders with accounting backgrounds include financial vice presidents, treasurers, controllers, budget directors, internal auditors, cost analysts, and tax specialists.

Few career fields offer as wide a variety of positions as accounting. Every institution, regardless of its size or organization, has an accounting function and requires the services of skilled professionals. Four primary career paths are discussed below.

1. Public Accounting
About half of the nation's CPAs work in the field of public accounting. CPAs work for both large and small firms, offering their services to businesses, industries, and individuals who contract for their services on a fee basis. The principal specialties within public accounting are:

• Auditing -CPAs examine clients' financial statements and express a professional opinion on the fairness of the presentation. Investors, consumers, creditors, and other interested parties rely on accountants' opinions in using the audited financial statements for making decisions.
• Tax Advisory Services-Tax accountants have broad responsibilities, including tax advice and planning, preparing tax returns and supporting documents, representing clients before governmental agencies, and helping clients comply with tax laws.
• Management Advisory Services-Companies engage independent CPAs for assistance on such matters as devising reporting systems for better control and decision making, installing cost accounting systems or computer operations, improving production control mechanisms, and developing organizational plans and defining duties and responsibilities.

2. Management Accounting
Management accountants are trained to determine the financial effects of contemplated management actions to achieve the objectives of an organization. Management accountants' responsibilities include preparing records and reports on which operational planning and control depend. These reports and analyses are essential ingredients of most decisions about finance, investments, and pricing policies. Management accountants participate in virtually every phase of business problem solving and decision making and are usually members of the top management group.

3. Not-for-Profit Accounting
The need for financial measurement, reporting, and control over the activities of governmental, educational, religious, and charitable agencies is now fully recognized. The public sector of our economy has grown greatly in the last quarter century. Noncommercial organizations, as they become more affected by inherent requirements for financial reporting and controls, need professional accountants.

The federal government hires accountants in many of its agencies, such as the Internal Revenue Service, the FBI, General Accounting Office, and the Defense Contract Audit Agency. The Internal Revenue Service, among other things, audits individual and company tax returns. The General Accounting Office is the audit arm of the U.S. Congress; it assists in investigations to determine policy compliance and performs a broad range of other activities. The Defense Contract Audit Agency concentrates on audits of defense contractors and their operations.

4. Forensic Accounting
Forensic accounting deals with using accounting evidence to assist in various investigations involving financial matters. Law enforcement agencies such as the FBI, CIA, US Post Office, and state and local police departments utilize forensic accountants to help trace the sources of various financing schemes. Forensic accountants are frequently used in fighting terrorism, unraveling insurance frauds, gathering evidence against drug dealers, and providing expertise in divorce settlements.

Career Opportunities

Accounting Educator Accounting-System Expert Appellate Conferee Appraiser Auditor Bank Examiner Budget Accountant Bursar City Auditor Controller Corporate Accountant Cost Accountant Cost Analyst County Auditor FBI Agent Field Auditor Finance-Records Examiner Forecast Accountant Forensic Accountant Fraud Examiner

Government Auditor Governmental Accountant Internal Auditor Machine-Processing Accountant Management Accountant Office Auditor Payroll Auditor Procedures Accountant Program Analyst Property Accountant Public Accountant Public Finance Specialist Rate Engineer Revenue Agent Systems Accountant Tax Accountant Tax Analyst Tax Auditor Tax Examiner Valuation Engineer

Positions Held by Grads: Partners in CPA Firms Controllers Vice Presidents of Finance State Auditors IRS Agents Who Hires WSU Grads: Andersen Consulting Arthur Andersen Battelle & Battelle Champion International Deloitte & Touche Erhardt Petroleum Ernst & Young Iams Company Lexis-Nexis NCR Ohio Casualty PricewaterhouseCoopers Procter & Gamble Reynolds & Reynolds Standard Register State of Ohio Auditor's Office