Martes, Hunyo 30, 2015

9 Amazing Facts about Accountancy

Image Source: http://www.brw.com.au/

My friend’s mom was currently working as a Filipino accountant in Dubai UAE at Embassy - Fs. A recent conversation of them was very interesting. They talked about some facts about accounting and luckily my friend share it to me. Here is the list!

1. The term “accountant” comes from the older English word “accomptant”, which came from the French word “compter”, which comes from the Latin word “computare”. It means to reckon, score, number or count. A word full of history!

2. The ancient Romans are really obsessed with record keeping. For a fact, their military bases kept detailed accounts on everything, from how much grain was in stock to how many nails are in their workshops. Many said that these accounting skills that the Romans have in the earlies were the reason why they were the great nation at that time.

3. In 1494, the first book on double-entry accounting was written by Italian mathematician and Franciscan friar Luca Bartolomeo de Paciolo, called Summa de arithmetica, proportioni, et proportionalita. He is said to be the “father of accountancy”. The textbook was used in the abbaco schools in northern Italy. Double-entry means there is a debit and credit entry for every transaction.

4. The first certified public accountant (CPA) exam was first held in 1896 in the state of New York, USA.

5. Accounting plays not just a major role in business but also in law enforcement. The Federal Bureau of Investigation has more than 1400 accountants among its special agents

6. Chicago crime boss Al Capone was finally brought down in 1931 by FBI accountants. Yes, you read it right! By accountants and not just by police or SWAT. It is believed that he is responsible for crimes ranging from bootlegging to murder, but Capone was ultimately arrested and convicted for income tax evasion.

7. Since 1935, a team of Certified Public Accountants has spent an average of 1700 hours prior to Oscar night counting the Academy Awards ballots by hand! That’s huge counting hours!

8. A lot of people think and believe that the term “bean counter” was used to describe an overzealous or detail obsessed accountant, dates back centuries. But the fact is it’s only around since the 1970s.

9. Not all celebrities are just good actors, singers, dancers or on any of their choice field. For a fact, there are celebrities who began their careers as accountants. Who are they? Ultimate Fighting Champion and Dancing with the Stars contestant Chuck “The Iceman” Liddell, WWE wrestler D-Lo Brown, jazz artist Kenny G., comedian Bob Newhart, Rolling Stones Mick Jagger and singer Janet Jackson top the list!

Intrigued by these facts? Shared this to your friends too! Just like what my friend does to me!

Martes, Hunyo 23, 2015

Thinking about being a Part-time Accountant? Here’s what to expect!

part time accountants
Image Source: http://blogs.studyinsweden.se/


In recent years, the growth of accounting industry is truly undeniable. According to a study in the U.S., the revenue of accounting services reached approximately 137 billion US dollars in 2013 and expected to generate 160 billion by 2018. With these facts, part-time accountants are on the rise.

A recent survey shows that part-time employees are making the 25% of the accounting workforce, mostly in bookkeeping sectors. A temporary job can require anything from a few hours a week to a 40-hour commitment but lasts for a defined period of time. If you want to do part-time job in an accounting firm like Embassy FS (which my sister is currently working at) this is the great time for you to start kicking! I asked my sister what should a partimer expects from the job, and here is her thoughts.

1. Orientation that is so helpful


She said that being a partimer doesn’t mean that your employer won’t welcome you with an onboarding experience similar to what full-time staff members receive. Your tasks may be discrete and well-defined, but there might still be several areas where they can use your help. They may tell you things they need help with and let you choose, or they may start you in one direction and then modify your duties as your strength emerge.

2. Opportunity to make an impact.


It is good to remind yourself that even though you’re not a full-time staff; the company still relies on your dedication. So it is good to carry out the duties of the position as if it were your full-time career. Take the initiative to add value to every task you accomplish. IF you encounter any problems and issues, attempt to solve them yourself rather than leaving them for full-time staff to work on.

Still this is an opportunity that you can’t miss.

Here is why Part-time Accounting jobs might be right for you.

1. Access to new skills


This is an advantage for both temporary and partimers. You are to learn new job skills, making you a better candidate for promotion and more marketable the next time you decide to test the employment waters.

Temporary staffs sometimes receive access to a wealth of training and career advice.


2. The thrill of the new


A huge advantage of taking temporary accounting jobs is the variety of the work you can do. Why? Because many temporary assignments last for just couple of weeks of months, interim workers are always exposed to new projects and employers, which make this career option a great way to network with a wide range of professionals and use your experiences at different workplaces to determine the right career path for you.

3. Competitive compensation


Just all of us dreaming of! You might be surprised that you can earn competitive compensation through temporary and part-time accounting jobs. For a fact, the U.S. has seen steady growth in temporary jobs, and employers now regularly use interim accounting professionals to fill short-term demands. As a result, hourly wages for both temporary and par-time accounting jobs are usually in par or better than fulltime salaries. This is especially true for those individuals who possess specialized skills.

4. Flexibility


Temporary and part-time accounting jobs offer the opportunity to better balance work and personal priorities because you are not tied to a traditional full-time schedule. Parents, students and individuals nearing retirement, are often attracted to this type of work for this very reason.



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