How to Understand the Tools an Accountant Uses on the Job

By eHow Careers & Work Editor

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An accountant uses a combination of tools on the job, including knowledge of accountancy, generally accepted accounting principles, professional standards and practices, knowledge of the business and industry, an understanding of the applicable legal and regulatory framework, knowledge of internal controls and administrative procedures, technical skills including statistical methods and audit techniques, information systems abilities, reasoning and deductive analysis and communications skills.

Instructions

Difficulty: Moderate

Basic Knowledge

Step1
Visit the Web site tutor2u, start with "Introduction to Accounting" and follow the links for additional topics.
Step2
Browse Wikipedia on the Internet, starting with “Accountancy” and follow the links to various different fields of specialization in accounting.
Step3
Do a search on the Web sites of Amazon, Barnes and Noble or other bookstores to find books on Introduction to Accounting, Basic Accounting, Accounting for the Non-Accountant, Accounting for Executives or similar titles that interest you.
Step4
Go to your local library and browse books on accounting.
Step5
Consider a seminar or course in accounting for non-accountants or executives, or a course in reading and understanding financial statements, if you are interested in learning about the tools an accountant uses but are not an accountant yourself.

Professional Standards

Step1
Check out the Investopedia Web site, under “Generally Accepted Accounting Principles–GAAP.” Here you will find a comprehensive listing of this common set of accounting concepts, principles, practices and standards that serve as tools for accountants.
Step2
Search the Investopedia Web site for Professional Accounting Standards.
Step3
Browse the Web site of the American Institute of Certified Public Accountants, to read about the different professional standards.
Step4
Visit the International Federation of Accountants Web site to get a global perspective on the standards that govern accountants' work.

Legal and Regulatory Framework

Step1
See the Internal Revenue Service Web site for the forms, instructions, and publications accountants use in their tax work, as well as tax rulings, news, and other information that is useful to accountants as a tool in their work.
Step2
Visit the Securities and Exchange Commission Web site to learn about reporting requirements for public companies.
Step3
Go to the Cornell Law School Web site, under “Wex” to get an overview on commercial law.
Step4
See “Institute of International Economic Law” on Georgetown University's Web site for links to various Web sites with information on commercial law around the world.

Accounting Software

Step1
Review job opportunities for accountants posted in sites such as Monster and Career Builder to see what specific tools are required in terms of software knowledge and experience.
Step2
Use an Internet directory, such as the Tax and Accounting Sites Directory, or the dmoz open directory project.
Step3
Look under “Accounting Software” to search for the various software packages, broken down into general categories.
Step4
Click on a specific software to go to their Web site to get an overview and more detailed information on the software tool.
Step5
Browse the Web site of Quickbooks, a software package used by many small businesses for their bookkeeping and accounting.
Step6
Download a trial version of a software package.
Step7
Contact the software provider to arrange for a demonstration in their offices or at your place of work.

Tips & Warnings

  • Use Web sites with directories of links to guide you in your search for information on the tools an accountant uses on the job.
  • Visit the American Institute of Professional Bookkeepers Web site, for a listing of links to sites with various practical tools used by bookkeepers and accountants.
  • Follow the links in the Tax and Accounting Sites Directory to Web sites covering regulatory bodies, company information, accounting research, accounting news, certification and other topics.
  • Research the AuditNet Web site for general information on independent and internal auditing, and links to various other sites of interest in learning more about auditors' tools.
  • Look under "Resources/Tools" on the Smart Pros Web site for links to various Web sites with information on accounting, tax and auditing.

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