Would you consider a job in accounting?

Accounting is not as glamorous as many other professions. In fact it is
probably the least prestigious when compared to medicine and law.

If you would want an online accounting degree this video will be helpful.


Yet there is a benefit that accounting been considered by many to be
recession proof. Though it seems that this downturn is not your
normal recession because even accounting is being affected.

Sometimes an online accounting degree can be the difference that gets you the job. So
consider looking a this video and articles.

VISA Financial Football Training Camp

VISA has put quite a lot of time and effort into creating an excellent method of teaching financial concepts to Americans with their VISA Financial Football Training Camp. Though as someone who has recently seen clients that are carrying balances of $ 150,00 to $ 300,000 when these same couples earn between $ 250,000 to $ 500,000 respectively, the problem of carrying credit card balances can be very serious. Please visit the link above to see my WARNING.

The Story That Tells the Power of Audited Financial Statements

By http://ezinearticles.com/?expert=Neil_Rischall Neil Rischall

Most potential clients that request audited financial statements do so because they feel compelled to have their accounting examined by a CPA. This could be do regulatory oversight such as the SEC or NASD or PCAOB for public companies that are traded on the major stock exchanges or involved with the business perhaps as stock brokers. Some feel compelled because they are required by the government such as non profits or those that deal with Housing and Urban Development. Others must get audited in order to get or comply with a bank loan they are seeking or have.

The most common question that those that are compelled to get their books reviewed is "How much this will cost?". Due to such questions I have devoted pages on my web site to give people comfort and knowledge about how to figure out what audited financial statements will cost. In addition I make myself available for free consultations via the phone or email to give those that are curious an answer to their questions.

Though I am often disappointed that so many people in business fail to understand the power of audited financial statements and what they provide besides compliance with outsiders that require them. That what is being provided is not just a letter stating an opinion without any further value.

When I was wet behind the ears and not even certified as a Certified Public Accountant something happened in the CPA firm that I worked that brought out the point that I am trying to make. The firm I was working for was engaged to do the audit of a brokerage firm that had offices in Manhattan ( in fact quite close to Wall Street and the World Trade Center ). Even though our firm was fairly small we always brought in as many people as possible on the first day of an audit in order to make a good impression. Well it seems that we made a very big impression on one of the employees of the brokerage firm. The reason I know that is that within a short time after our arrival this employee admitted to a major fraud that he had stolen a significant amount of money from the brokerage firm's clients.

Many visitors of my site have been pleased to become more educated about the services that a CPA can provide for them as well as getting their own specific questions answered.

Neil Rischall is the CPA behind the CPABookkeepers site there you can sign up for some email lists about audited financial statements that can save you significant money. As well as finding out about services provided by a CPA Firm.

Article Source: http://EzineArticles.com/?expert=Neil_Rischall http://EzineArticles.com/?The-Story-That-Tells-the-Power-of-Audited-Financial-Statements&id=3155562

Audited Financial Statements Procedures

Audited Financial Statement Procedures

Audited Financial Statement Procedures
By Neil Rischall

Audited financial statements, which have been prepared by an independent Certified Public Accountant (CPA), are used to provide financial credibility, accountability and accuracy for a business. There are specific procedures performed by the CPA during the audit process.

An engagement letter, which is a letter of agreement which stipulates the services to be performed by the CPA and the fees associated with such service, is signed by both the CPA and the company having the audited financial statement done. This letter is designed to prevent misunderstanding between both parties and to reduce the risk of law suits.

The accountant will request financial reports from the company to review. These reports include the income statement, balance sheet, and statement of cash flow along with financial documentation to support these reports. The auditor will review the company's internal control system to determine what controls are in place and assess the control risk of the controls failing to detect or correct any material misstatements in the accounting records which could affect the financial statements, review specific financial statement items required by the AICPA Statements on Auditing Standards (SASs), and documentation about financial statement items they deem necessary. The auditor is also required to: confirm accounts receivable, observe the inventory count, inquire with client's lawyers regarding any litigations, claims, or assessments, evaluate accounting estimates made by management confirm business activities and account balances with outside entities, assess the degree of risk that fraud will cause a misstatement in the financial statements, document the fraud risk factors, and detail the client's response to these risk factors.

A client representation letter is provided to the company to sign at the conclusion of the audit. The purpose of this letter is for the client to take responsibility for the written statements explicitly or implicitly given to the auditor by management; such as management's acknowledgment of its responsibility for the fair presentation of the financial statements, compliance with laws and regulations, assertion that they are unaware of any fraudulent activity and have implemented procedures to detect and prevent fraud.

From this information the CPA creates an audited financial statement which will include an opinion, either qualified or unqualified, about the nature of the financial documents. The intention of the audit of financial statements is to gather evidence that will ultimately produce and support an opinion about the audit as well as defend the auditor if a lawsuit resulted from reliance on the audit opinion. The goal of an audited financial statement for a company is to provide the CPA with a reasonable basis for an unqualified opinion that the financial statements are free of material misstatements or false/missing information. With an unqualified opinion, the audit is found to be accurate, complete and fairly presented to meet the requirements of the US GAAP (Generally Accepted Accounting Principles). A qualified opinion indicates that the CPA is not in agreement with aspects of the company's financial statements or accounting procedures and is not confident in the accuracy of the financial statements.

Neil Rischall is the CPA behind the CPABookkeepers site which has a wealth of information about audited financial statements as well as all services provided by a Certified Public Accountant.

Article Source: http://EzineArticles.com/?expert=Neil_Rischall
http://EzineArticles.com/?Audited-Financial-Statement-Procedures&id=2540511

Small Business Accounting Software Free Download

Take a look if you are interested in a small business accounting software free download and also a funny video about accounting software. It is so rare that accoutning software makes us laugh.

What are audited financial statements ? Part I

Have you ever wondered what audited financial statements are and who needs them?

Audited financial statements, which are prepared by an independent Certified Public Accountant (CPA) for a business, are the reports used by a company to show how the business is doing and prove that the numbers are correct. All businesses, whether privately held, publicly owned, or nonprofit should prepare statements on their financial performance. These statements also enable management to make business decisions, enable banks to see if they want to loan the business money, and provide individuals who may want to buy a part or the whole business with the information they need to make a good decision.

The financial documents used by an accountant to prepare audited financial statements are provided by the company. The CPA will examine the documents to verify they support figures within the financial statements, assess the way numbers where calculated, and evaluate the overall financial statement presentation. In addition the CPA will evaluate the companies internal control system. An internal control system is the way that a company makes sure that the business is safe from people cheating the business and or giving out false numbers.

In my next blog post I will explain what I add to the financial statements given to me when I audit them.

If you have any question about this post or how you can your companies financial statements audited please email me : cpa@post.com or call my toll free phone number (866) 559-6434.

What is the PCAOB for Audited Financial Statements

Just updated my CPA website to more clearly reflect the focus on audited financial statements. The first of several informative articles on PCAOB was also added to my site. The new article is called What is the PCAOB for Audited Financial Statements. Please check this new information out if you have an interest in audited financial statements and the relationship of certain CPA's and the PCAOB.

Also added a quiz to my site's home page due to the positive results from my first test of the quizzes placed on this blog. Special thanks to MyStudiyo.com for your amazing service. Anyone can get their great looking interactive quizzes by clicking on the link here or on the quizzes here on this blog.

Audited Financial Statments Articles

Two new articles I have written have been accepted by Articlesbase they can be found at:

http://www.articlesbase.com/accounting-articles/audited-financial-statement-procedures-1000925.html

http://www.articlesbase.com/accounting-articles/audited-financial-statements-1001003.html

Audited Financial Statements for a Non Profit Organization

Sometime it is a necessity for a non profit organiation to get an audited financial statment. If you need more information about Audited Financial Statements for a Non Profit Organization then check out the link just mentioned.

How to find business bookkeeping services

Are you looking for business bookkeeping services? Then you will want to click her to see how to find business bookkeping services . Business bookkeping services can make your business more organized as well as more profitable.

How to get an audited financial statement

On a daily basis I speak with business owners and non profit directors who want to know how to get an audited financial statement. If you visit the page in the link you will find out that the process really boils down to three easy steps. So do not get confused, take it slowly and focus on one step at a time and you can get it done. If you are wondering about the cost of an audited financial statement there is a resource for that also.

Ever wondered about the cost of an audited financial statement

The first question most potential clients ask when discussing  audited financial statements is how much it will cost. At that point it is usually to late to do much to lower the cost. However if you know before you get your cpa financial report audited you could do things to mitigate the expense.

Fear, taxes and accounting

Fear is a primary motivator perhaps even the primary motivator.

So it is fair for an accountant or CPA to use it to motivate clients and shape behavior?

In the past I have seen posts and communications from other accountants that have used that to convince clients to take certain or action or perhaps become a client. Usually I find it offensive to try to scare someone into doing something they would not do otherwise if the fear is overstated. However if the fear is likely and not being exagerated then it may have it's place.

At the same time it seems clear to me that stress hurts people. So why increase the stress levels when the same can be accomplished in a calm and serene manner.

My toll free number just got succesfully ported so it working again. The number is (866) 559-6434 - please feel free to give me a call. In fact if I do not pick up ( considering the time of the year I may be busy ) leave a message and my virtual assistant Heather will relay the message and we will get back to you promptly even during busy season.

Kinder gentler IRS ?

Commissioner Shulman says that the IRS wants “to go the extra mile to help taxpayers, especially those who’ve done the right thing in the past and are facing unusual hardships.”

According to a January news item from the IRS they are trying to balance their responsibilities of collecting tax with "economic realities facing many American citizens today".

This may be the best time to negotiate instead of letting cases linger on.

Perhaps this could be your personal bailout from the government.

Balance Sheet Explained

Balance sheet explained is essential reading. Because when the crap hit's the fan all the excuses will not help. So whether you have an acountant or not you better take responsibility for your own education.

Are we afraid to say the word Depression

A friend who is also a CPA and owns a practice asked me today if I was noticing a slowdown in collections. As it turns out my experience confirmed his. This makes me wonder, as we are finally hearing the recognition of that the US is going into a recession, should we be discussing depression.

This is a hard point for me to make considering my firm belief in the law of attraction. So perhaps my even mentioning this would could create the reality. If I thought that was true then I would not be making this post.

There are cycles that spiral within a range going back and forth. Then there are those that continue in a cycle that tend to go down with one event causing an accelerating downward spiral. In housing it may start with mortgage defaults going up which gets worse when even potential buyers finding it difficult to get a loan. So with a lack of buyers prices fall even lower bringing more people into default who before may have been able to sell their house.

This may happen with a business whose sales and collections drop. So the business has to let employees go. These employees put a drag on the economy by limiting their purchase of goods and services which cause more layoffs.

If we believe perception creates the reality then we may agree with the media and politicians who would want to limit discussion of this. Yet on an individual basis would we not be better prepared the earlier we deal with this reality?

To me it seems clear that the time for people to look at their situation and state it before the media or politicians get a chance to spin it. So if you are experiencing economic issues please comment and share what you see.

Accounting and Tax Services

I am very proud of the new page that takes a direct approach at resolving issues related to accounting and tax services. If this is something that you are dealing with and you have an opinion please weight in with your comments.

Free Accounting Software Offer Ending

About six months ago I started offering free accounting software to be accessed online. Since that time over 600 users have signed up to get this offer. Though many people have signed up for the software, no one has used it on a consistent basis. The only apparent reason I can suggest is that the software is not nearly as user friendly and easy to use as Quickbooks is. Therefore I am discontinuing my offer for free accounting software.

In fact Quickbooks and other very large software companies offer free accounting packages that are very user friendly and have some great features ( especially for the price :) ).

In the near future I will be concentrating on helping people get the most out of Quickbooks at the following blogs:
Exploring the utility of Quickbooks vs Quicken www.quickbooks-vs-quicken.com
News and Views about Quickbooks www.the-quickbooks-blog.com