- •What is the main task of accountants?
- •What changes have taken place in accountings? What does the modern accountant look like?
- •4. What should modern accountant be like?
- •5.What is the difference between book-keeping and accounting,book-keeper and accountant?
- •6.What kind of information permits users to make informed judgments and decisions?
- •7.Why do so many users are in need of accounting information?
- •8.What kind of information permits users to make informed judgments and decisions? Why do so many users are in need of accounting information?
- •9.What kind of accounting information does suppliers of goods and services need?
- •10.What kind of accounting information do managers require?
- •11.What kind of accounting information do customers and employees need?
- •12. For what reasons governments may require information concerning a business?
- •13 For what reasons competitors may require information concerning a business?
- •17. What does timeliness of accounting information suggest?
- •18. Why do users compare accounting information produced by different businesses?
- •27. Auditing.
- •28. Internal and external auditors .
- •30. Valuation and measurement.
- •31.Consistency principle of accounting policies.
- •32.What does mean “historical cost principle” ?
- •33. What does mean “current replacement cost”?
- •34.In what way can accounting be defined?
- •35. Why has accounting developed over time? What are the most important conventions of accounting?
- •38. Going concern as the one of the basic accounting concept.
- •39. Materiality and aggregation as the basic accounting concepts.
- •40. Notion of “Assumption”
- •41. The separate entity or business entity assumption and the time-period assumption.
- •42. The continuity or going concern, the unit-of-measure assumption.
- •43. The full-disclosure and the principle of conservatism.
- •44. The objective principle, the revenue recognition and the matching principles.
- •45. Fixed assets and valuation.
- •49. The corporate income tax. Individual income tax
- •Value added tax (vat)
- •51. Social tax . Property tax
4. What should modern accountant be like?
In all countries of the world the complexity of economic activity is gradually growing. And this, in its turn, leads to an increasingly important role of accounting as a function of economic management. At present the necessity of improving accounting through raising its operational utility and quality is regarded as one of the most important tasks.
The main condition for the solution of this task is improving the quality of accounting personnel. To attract able young people to the study of accounting, to raise its prestige and demonstrate its importance is an urgent task in many countries of the world.
In a word, it is not easy to put the qualities of a good accountant in a nutshell. Some of them are inborn, others must be acquired by education and experience. Among the most important of that sort of qualities are the following: a good knowledge of accounting and the ability to apply its principles in practical life; a broad general outlook and understanding of economic trends and events; responsibility, decision-making ability, the knowledge of accounting techniques; the ability to get on with colleagues, personnel people in general.
5.What is the difference between book-keeping and accounting,book-keeper and accountant?
Some people confuse a book-keeper with an accountant and book-keeping with accounting. Meanwhile the distinction between them is significant enough. Book-keeping is one of the minor parts of the whole of accounting.
It can be defined as the procedure used in recording business transactions. Book-keeping is justly said to require only minimal knowledge of accounting. In fact, it is the routine and clerical side of accounting/ A book-keeper is known to record the repeated and uncomplicated transactions to business. In contrast the accountant is a professional who is competent in analyzing accounting information, systems design and financial advising.
To put it differently, an accountant should be particularly interested in the relationship between the financial results and events which have created them. Apart from that he is believed to study the various alternatives open to the business. In a word, he is thought to use accounting experience to help the management in decision- making. As a rule, there are two essential questions that the managers or owners of a business want to know: first, whether or not the business will be able to meet its commitments. Therefore, the accountant’s role in business activity is difficult to overestimate. As for the book-keeper, his function is that of a clerk working in a finance department. A person might become a proficient book-keeper in a few weeks or months. To become a professional accountant, however, is a far greater challenge. It requires years of study, experience and an ongoing commitment, to keeping current.
6.What kind of information permits users to make informed judgments and decisions?
The purpose of accounting is to provide economic information which permits users of that information to make informed judgments and decisions. Users of economic information require this knowledge to help them decide how best to allocate available resources. As a rule, resources are generally scarce in relation to needs, and so users rely on accounting reports to ensure the efficient and effective allocation of suppliers.
You can see that, essentially, accounting is a form of service. By measuring economic events and presenting this information to users, accounting acts as a valuable aid to economic decision- making.
For accounting to serve its intended purpose, it is necessary to establish clearly who the major users of financial information are and what their needs are.
As is known, in the world of business it is possible to classify users of accounting information into major groups. Users within each group are considered to have very similar, or the same, information needs.
Some of the major users of accounting information are: 1) owners of business, 2) lenders of money, such as banks, 3)suppliers of goods and services, 4) managers of businesses, 5) customers of a business, 6) employees, 7) governments, 8) the public, 9) competitors.