Accountancy Questions And Answers
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Having to deal with receipts, accounts payable, accounts receivable and taxes is no one’s idea of a great time. Well…that is not quite true. To an accountant, it is his or her career and one that they enjoy. Accounting surrounds each and every person every day whether they realize it or not. The world revolves around trading and money. Someone has to be in charge of the incoming materials, outgoing materials and the money that is involved. It is pretty safe to say that this is one job field that will be around for quite some time in some form of fashion. If you are not sure about what accounting is or you just want to know more, this article is for you.
When was accounting first practiced?
Accountancy, or accounting, has a very long history. While we may commonly associate it with banks and money, it was initially used to keep track of crops and the value of the crops as far as trading went. The Sumerians of Mesopotamia and the Ancient Egyptians used to keep accurate records of their products so that they would know what they had in the store houses and what its worth was. Even the Bible mentions accountancy as does the Quran. But the person credited for the origins of accountancy as we know it is Luca Pacioli of Venice in 1494. He created a textbook so that others could learn this system of mathematics.
How much does an accountant charge?
Most accountants, if they are not part of your firm, will charge by the hour. So if you are only seeing your accountant once a month it may not cost you that much. The hourly rate of an accountant is going to depend on exactly what it is he or she is doing for you and where they are located at. Of course larger cities will have higher wages than small towns so you can expect to pay more for an accountant in New York City, New York than you would in Possum Grape, Arkansas. If there are any fees for filing the paperwork, such as the fees that states charge for incorporating, you will also need to pay those as well.
What will an accountant be in charge of?
When you hire an accountant, he or she will be in charge of handling all of your debits and credits. The accountant will constantly review your books to make sure that your assets are in line and that all the investors (if there are any) are informed of the financial situation of the company. He or she will also ensure that your quarterly taxes are paid in appropriately. The list of responsibilities can go on and on. It really all depends on how much you want the accountant to handle.
Where can I learn more about accounting classes?
Thanks to the internet, you no longer have to worry about sitting in a classroom learning everything you need to know about accounts. You can often find great classes online through universities such as the University of Phoenix. If you are not interested in pursing an actual accounting career, there are some colleges that now offer free classes. All you have to do is sign up and purchase the text book that will be used. You will be expected to do the same homework and the downside is that you will not be receiving any college credit but you will be learning a valuable skill that can help you at home and at work.
More articles about accounting can be found at knowhow-now.com a great resource where you can read interesting articles on a multitude of subjects.