Research Paper, Finance and Accounting Paper Example | Topics and Well Written Essays - 1500 words

, Finance and Accounting - Research Paper Example Research Paper, Finance and Accounting Hence having an accounting background opens the door to a wide range of career opportunities. Accounting has always been considered as the language and basic tool of business and it is concerned with determining how a business is doing and what the bottom line of the business is. The demand for accountant has been growing and it is outstripping supply. There are a lot of field where accounting can be done like tax, managerial, audit, forensic, governmental, consulting etc. This paper will discuss about the pros and cons of each of the above field of accounting and arrive at the most important one among them which is more relevant today. Managerial accounting is referred to as management accounting and is defined as the internal business building role of finance and accounting professionals who designs, implement and manage internal systems that supports effective decisions and support, plan and control, the value creation operation of an organization. In other words, managerial accounting supports the decision making process through planning and controlling operations. Managerial accounting emphasizes on future event of a company and hence is often considered to be forward looking and uses past result as the basis for estimating future results. It increases the efficiency of a company as everything is done in management accounting in a scientific way of evaluation and compares the performance of the company.