CC BY
6
UDC 657
Gadzhikhanov M. Sh.
A 1st year postgraduate student of DSU, economic faculty, DSU Rizakhanova Z. Z. PhD of Philology associate professor of foreign languages department, DSU
Russia, Makhachkala ACCOUNTING AND AUDITING, THEIR TYPES
Abstract: The peculiarity accounting and auditing are it stipulated in the article, and some types of accounting, auditing.
Keywords: Accountants, auditors, public accounting, management accounting, government accounting, internal accounting.
Accountants and auditors help to ensure that the Nation's firms are run efficiently, its public records kept accurately, and its taxes paid properly and on time. They perform these vital functions by offering an increasingly wide array of business and accounting services to their clients. These services include public, management, and government accounting, as well as internal auditing. Accountants and auditors are broadening the services they offer to include budget analysis, financial and investment planning, information technology consulting, and limited legal services. Specific job duties vary widely among the four major fields of accounting: public, management, government, and internal.
Public Accounting.
This type of accounting is the most varied type. Public accountants perform a broad range of accounting, auditing, tax, and consulting activities for their clients, who may be corporations, governments, nonprofit organizations, or individuals. Thus, some public accountants concentrate on tax matters. Others offer advice in areas such as compensation or employee healthcare benefits, the design of accounting and data-processing systems, and the selection of controls to safeguard assets. Others audit clients' financial statements and report to investors and authorities that the statements have been correctly prepared and reported.
Public accountants, many of whom are Certified Public Accountants (CPAs), generally have their own businesses or work for public accounting firms. A public accounting businessaccountants can have one or more accountants and both certified and non-certified can provide public accounting services to their.
Some public accountants specialize in forensic accounting - investigating and interpreting white collar crimes such as securities fraud, and possibly criminal financial transactions, such as money laundering by organized criminals. Forensic accountants combine their knowledge of accounting and finance with law and investigative techniques in order to determine if illegal activity is going on. Forensic accountants work closelyappearwith law enforcement personnel and lawyers during investigations and often as expert witnesses during trials.
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Management Accounting.
Accountants specializing in management accounting are also known as private, industrial or corporate accountants. Management accountants provide their services to business houses for recording and studying the company's financial data. Their portfolio in the private firms includes cost and asset management, budgeting and performance evaluation. This is more on the basis of employer-employee relation. They also perform internal audit to review the company financial management practices and keep an eye for any mismanagement and fraud. The accountants who perform these audits have specializations in compliance auditing, information technology auditing or environmental auditing.
Government Accounting.
Government accountants and auditors work in the public sector, maintaining and examining the records of government agencies and auditing private businesses and individuals whose activities are subject to government regulation or taxation. Accountants employed by Federal, State, and local governments guarantee that revenues are received and expenditures are made in accordance with laws and regulations. Those who are employed by the Federal Government may work as Internal Revenue Service agents or in financial management, financial institution examination, or budget analysis and administration.
Internal audit.
Internal auditors verify the accuracy of their organization's internal records and check for mismanagement, waste, or fraud. Internal auditing is an increasingly important area of accounting and auditing. Internal auditors examine and evaluate their firms' financial and information systems, management procedures, and internal controls to ensure that records are accurate and controls are adequate to protect against fraud and waste. They also review company operations - evaluating their efficiency, and compliance with corporate policies and procedures, laws, and government regulations. There are many types of highly specialized auditors, such as electronic data-processing, environmental, engineering, legal, insurance premium, bank, and healthcare auditors. As computer systems make information timelier, internal auditors help managers to base their decisions on actual data, rather than personal observation. Internal auditors also may recommend controls for their organization's computer system to ensure the reliability of the system and the integrity of the data.
Thus,accounting is a profession that requires a person to have the best analytical and logical thinking, decision making, mathematical, and communication skills.You know that this broad area consists of many different jobs such as auditing, forensic accounting, tax accounting, financial analysis.
References:
1. Order of the Ministry of Finance of the Russian Federation of July 22, 2003. № 67n "On the forms of financial statements."
2. Kuter M.I. Accounting Theory.
3. Nikolaeva O.E., Shishkova T.V. International Financial Reporting Standards.
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