Accounting jobs in Gulf Middle-East Countries -Dubai -UAE ,Doha-QATAR . Muscat-OMAN , Riyadh-SAUDI ARABIA ,KUWAIT

Accounting jobs are becoming more popular nowadays because of the emergence of so many businesses and new companies in gulf and middle east countries. Among these accounting jobs are administration jobs. Accounting jobs are expected to grow faster than the average for all occupations.

Accounting jobs are plentiful. Investment management type jobs (which like to see their front office employees pursuing the CFA) are super competitive, akin to investment banking. Accounting jobs are stable and easy to come by if you have the right tools.

Accounting jobs are available with public accounting firms, government, corporations and with self-employed certified public accountants.Accounting jobs are as prominent in most cities as they are in any other area of the country, with many graduates working for the big firms. Accounting jobs are mainly certified public accountants (CPA) and registered public accountants (RPA), and may also include auditing, bookkeeping, credit analysts, and reports preparation.

Accounting jobs are highly skilled, highly lucrative and highly sought after. In places like Dubai, Abu Dhabi, jobs in the accounting field are opening faster than they can find people to fill them. Accounting jobs are increasing because of tougher financial laws and regulations in the  wake of the after effects of current downturn . Employment for financial analysts and personal financial advisers is expected to increase faster than average as well, as business and individuals invest more.

In a field like auditing, where skills are more transportable, there is still some resistance to hiring from outside the country. The concern can center on the candidate’s communication skills; many accounting jobs have to deal with clients in a face to face environment and the accountant’s comfort in English is paramount.

Accountants are considered strategic business partners of their organizations and work in a variety of different areas. They are generally smart people who can help you solve sticky problems. Accountants are concerned about how collect data should be used whereas number crunchers are busy thinking how data should be collected. If simple number crunching was what was required, then artificial intelligence of computers would be sufficient, but employers want to look for accountants who are emotionally intelligent and are team players.

Like the rest of the world’s major centers there is a trend of being employed for the accountant job in Dubai ,Doha, Riyadh ,Muscat and Kuwait is being perceived as an honor.

Accounting is the practice of collecting and measuring data in order to allocate resources. People are needed to monitor, evaluate, and produce financial and resource data for accounting. There is a pool of specialties to choose from when considering where to develop accounting expertise.

Accounting can be broadly classified as either general accounting or auditing. Accounting is specific to managing a business’s finances by keeping track of payroll and company expenses. Auditing is a practice where records are reviewed and a conclusion is reached to provide a recommendation for action. An auditor reviews records managed by accountants to determine their correctness.

Accounting careers have the following specialties:

Bookkeeping

The term ”bookkeeping” is generally used to refer to recording financial transactions. The job of a bookkeeper (also called an accounting clerk), is managing records with regard to purchases, sales, receipts, and payments.

Accounts Receivable

”Accounts receivable” refers to billing customers using a sales ledger and creating a receivables entry, which is also reflected on the balance sheet.

Accounts Payable

Accounts payable is a form of debt that the company owes its suppliers. Accountants working in accounts payable receive bills from suppliers and create accounts payable entries.

Tax Accounting

Accountants who are experts in tax matters manage tax accounting. Their job primarily involves preparing tax returns for their company.

Cost Accounting

The job of a cost accountant is to track, record, and analyze costs. This form of accounting is used to manage company costs and improve profitability.

Payroll and Timekeeping

Payroll and timekeeping clerks keep track of workers’ time sheets and payroll. They ensure that employees are paid on time and that their paychecks are accurate.

Conclusion

No matter which field of accounting you choose, for a successful accounting career it is important to be comfortable using spreadsheets and other financial and accounting software such as QuickBooks and Microsoft Excel.

Financial Accounting ACG2021 SFCC Spring 2008 Crosson Chapter 2

Android T-Mobile My Account 2.0 App Glitch


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Take a look. The percentage definitely does not match. 135/400 = 33.75% not
75% used.

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Accounting & balance sheet

I would like to start speaking about this topic with defining what accounting is. So accounting is keeping financial records, recording income & expenditure, valuing assets& liabilities, eleberation of budjets & so on. We can devide accounting into two large groups.

Accounting:

Financial accounting

preparing financial statements of various kinds

- financial statements

- tax reterns                                             -

is used for:

Managerial accounting

preparing financial information,

necessary for the company itself;

- controlling

- marketing & management

- pricing

- negotiations

- analyzing the flows of capital

But also there are a lot of other kinds of accounting, such as:

Cost accounting – working out the unit cost of products, including materials, labour & all othe expenses.

Tax accounting – calculating an individual’s or a company’s liability for tax.

“Creative accounting” (or “window dressing”) – using all available accounting procedures & tricks to disguise the true financial position of a company.

Also at the begining of the topic I would like to stress, that we shouldn’t muddle accounting with bookkeeping. Bookkeeping is just writing down (recording) all the details of transactions (debits & credits). Bookkeepers have to record every purchase and sale that a business makes, in the order that they take place, in journals. At a later date, these temporary records are entered in or posted to the relevant account book or ledger. At the end of an accounting period, all the relevant totals are transferred to the profit and loss account. Double-entry bookkeeping records the dual effect of every transaction – a value both receives and parted with. Payments made or debits are entered of the left-hand (debtors) side of an account, and payments received or credits on the right-hand side. Bookkeepers periodically do a trial balance to test whether both sides of an account book match.

So as you see it’s not the same as accounting, actually, I would define bookkeeping as a necessary part (one of the functions) of accounting. Because accountants do record cash flows, & the value of assets & liabilities, & they calculate profits & losses, & so on. But it’s not just writing down numbers. They are in the business of supplying people with information (e. g. shareholders). Even managers always need the help of accountants. They need financial statements & budgets, & cash-flow projection, & so on, to measure the success of what they’ve done, & to make decisions about allocating resources for future projects. They try to find a way to allocate all the overheads to different products. Also accountants try to make a company’s financial situation look as good as possible in the balance sheet (I’m talking about “creative accounting”) & reduce tax bill, despite of the fact, that it’s not legal. So it’s not a full list of everyday duties of any accountant.

One of the function of accounting is also valuing assets, which are things of value or earning power to a firm. Assets can include cash, receivables, bank deposits, and trade investments: investments in other companies. Such assets are called current assets. Assets including land, plant, buildings, and furniture, are called fixed assets. Assets such as plant and equipment that over time wear out or become outdated are said to depreciate. A charge must be made for this depreciation or amortization in calculating a business’s profitability: the assets are depreciated or amortized by an amount each year. Also there are intangible assets, which may include such things as patents owned by the company, and goodwill, the value of the company as a functioning business or going concern with a client base, experienced management, and other benefits that a start-up may not have.

All the money that a company will have to pay to someone else in the future, including taxes, debts, and interest and mortgage payments is calledliabilities. Long-term debts are long-term liabilities. The ratio of a firm’s debt to equity is its gearing or leverage; a firm with a high proportion of debt in relation to equity is highly geared or highly leveraged. Short-term debts and debts to suppliers are among its current liabilities.

& here I would also like to define two more concepts (they seem to be key definitions in topic accounting). I’m talking about debtors & creditors. So

-                     debtors (or account receivable) – are the sums of money owed by customers for goods or services purchased on credit

-                     creditors (or accounts payable) – the sums of money owed to suppliers for purchases made on credit

As it has been already mentioned there are different kinds of accounting, different functions of accountants, various possible ways of recording debits & credits, valuing assets & liabilities, calculating profits & losses, etc. But there are generally accepted “accounting principles” that any accountants must follow in order to present “a true & fair view” of a company’s finance. So here are some of them:

The matching principle – the revenues generated in an accounting period are identified with related costs whenever they were incurred. The objectivity principle – all data recorded should be verifiable & free from bias. The consistency principle – the same methods (of inventory valuation, depreciation, etc.) must be used from one period to the next. The full-disclosure principle – financial reporting must include all significant information. The principle of conservatism (or prudence) – where alternative accounting methods are possible, one understates rather than overstates profits. The separate-entity or accounting entity assumption – an enterprise is an accounting unit separate from its owners, creditors, etc. The continuity or going-concern assumption – the business will continue indefinitely into the future. The unit-of-measure assumption – all transactions & other items to be accounted for must be in a single, supposedly stable monetary unit. The time-period or accounting period assumption – financial data must be reported for particular (short) periods, which makes accrual & dererral necessary.

10.  The historical cost principle – the initial price paid for the asquisition of assets is the one that is recorded in accounts.

11.  The revenue or realization principle – revenue is realized at the moment when goods are sold (or change hands) or when services are rendered.

In accordance with the principle of double-entry bookkeeping, the basic accounting equation is Assets = Liabilities + Owners’ (Stockholders’) Equity. This can be rewritten as Assets – Liabilities = Owners’ Equity or Net Assets. This includes share capital (money received from the  issue of shares), share premium or paid-in surplus (any money realized by selling shares at above their nominal value), and the company’s reserves, including the year’s retained profits. Stockholders’ or shareholders’ equity or net assets are generally less than a company’s market capitalization, because net assets do not record items such as goodwill.

Also there are various standart ratio measures which are simple enough to calculate:

The liquidity ratio = liquid assets/current liabilities The current ratio = current assets/current liabilities Return on capital employed = net profit/capital employed Profit on sales = net profit/turnover Debtors ratio = debtors/sales Creditors ratio = creditors/purchases Debt/equity ratio = long-term loans/shareholders’ funds

These ratios are also often use in simulation or case studies, because they allow students to make an initial assesment of a company’s performance & situation.

Speaking about accounting we can’t but giving difinitions for the following words:

-                     turnover – the amount of business done by a company over a year

-                     depreciation – the reduction in value of a fixed asset during the years it is in use (charged against profits)

-                     inventory – the value of raw materials, work in progress, and finished products stored ready for sale

-                     overheads – the various expenses of operating a business that cannot be charged to any one product, process or department

Company law specifies that shareholders must be given certain financial information (as it was said at the very beginning). Companies generally include three financial statements in their annual reports:

The profit and loss account (or income statement) – shows revenue and expenditure. The balance sheet – shows a company’s financial situation on a particular date, generally the last day of the financial year. The third financial statement has various names, including the source and application of funds statements, and the statement of changes in financial position. This shows the flow of cash in and out of the business between balance sheet dates. Sources of funds include trading profits, depreciation provisions, sales of assets, borrowing, and the issuing of shares. Application of funds include purchases of fixed of financial assets, payment of dividends, repayment of loans, and – in a bad year – trading losses.

I would pay special attention to the balance sheet, because the biggest part of the accountant’s work is concerned with this document.

So the balance sheet is a document that shows the totals of money received and money paid out by a company and the difference between them. The balance sheet includes two parts:

assets liabilities and share capital.

Both parts should always be balanced.

The item current assets includes cash, marketable securities, accounts receivable and stock-in-trade. Thus these assets appear to be working assets. Current assets are the assets which a company can convert quickly into cash, usually stock and accounts receivable falling due within one year. Cash includes bills, petty cash fund and money on deposit.

Marketable securities are a short-term investment of surplus or temporary free assets. Normally these assets are allocated into commercial securities or federal bonds. As securities can be required at short notice they are to be easily realized and be subject to price fluctuations as little as possible. The balance sheet shows their nominal cost, their market value is given in brackets.

Account receivables are amounts owed to a business by suppliers of goods and services. Usually customers are allowed a 30, 60 or 90 days period of time within which they are to effect a payment. However. Some customers are not able to pay owing either to financial difficulties or contingency. Hence, the amount is to be reduced for the reserve allowance for bad debt.

Stock-in-trade includes raw materials to be used for production and semi-finished goods. The stock-in-trade value is defined either by its cost or cost market value. The preference is given to a lower one.

Capital assets include property, premises, plant and machinery, and equipment. They are not meant for sale but for the goods production, storage and transportation. This category comprises land, buildings, machinery, equipment, furniture and vehicles. Thus, net capital assets reflect the volume of investment made into property, plant and machinery, and equipment. Capital assets lose their value with age and use. The ral cost of capital assets may gradually lose their value as a result of obsolescence of machinery. New modern technologies make the old equipment obsolescent. Thus, depreciation is a gradual loss in the value of something, such as a vehicle, a machine or any asset that wears out with use and age. The land cannot be depreciated; its value stays unchanged year after year.

Prepayments and deferred charges include, for instance, insurance against fire prepayment or lease prepayments etc.

Deferred charges are similar to prepayments. For instance, a manufacturer allocates money into research work, positive results of which and profit will be seen many years later. So costs are to be discounted within the years to follow.

Intangibles like patents, goodwill and trademarks are not physical substances and are differently evaluated by various companies or may not be evaluated at all.

GET THE FULL VIDEO HERE: goldsilver.com Welcome to the 7th episode in our 10 part series.

8 Steps to your Career Success in Accounting

If you have an ambition is to become a successful accountant and want to choose accounting field as your career path after graduation. Then, you need to start planning for your career path and working toward the success of achieving your career goal. In accounting field, a good knowledge in accounting, constant accuracy and working experience are of utmost important for a success. Here are 8 steps that you can include in your career path planning to ensure you are in the right track to meet your career goal.

 

Step 1: You must Excel in Math

Accounting is about numbers and the manipulation to numbers; hence, you must certain that you excel in math at high school. People who hate math may not be success in accounting field. That’s why you got to love math if you like to become an accountant. Take a special attention in math and ask your teacher or counselor’s guidance on which courses to take to best prepare you for earning a degree in accounting when you enter a college later.

Step 2: Request Information From College that Offer Accounting Degree

Beside the traditional brick & mortal colleges, there are many prestige’s online colleges and online universities offer degrees in accounting that enable you to earn an accounting degree from home. Send a letter, an email or make an online information request to those colleges that offer accounting degrees for heir catalogs and admission requirement on their accounting degree programs.

Step 3: Research On Certified Public Accountant Requirement

In order to become certified accountant, you must receive Certified Public Accountant certification, CPA from a state. The pre-requirement to CPA certification is you must first receive a bachelor’s degree in accounting or in related business fields. Check out the information on the requirement of CPA will make you more prepare on what courses need to be taken in accounting degree program. See the American Institute of Certified Public Accountants (aicpa.org) for further information.

Step 4: Ensure Your Accounting Degree Will Fulfill State Requirement

Normally, you will start your first career in you own state after graduating from your degree program. Hence, you need to make certain that the accounting degree program that you are going to enroll fulfill all state requirements, else you will face problem when you want to start your accounting career later.

Step 5: Decide Accounting Field Of Interest

There are a few starting points for your accounting career, you may major in public, government, and management accounting or internal auditing. No one degree program will cover all these fields; you need to choose which field that best suits your interest which you can choose as your majors of study.

Step 6: Become Proficient with Accounting Software

The time of using Microsoft Excel program in accounting work was over. You need to become proficient with a variety of accounting software if you want to success in this field. You may not be able to learn all the accounting software in the market, but you need to familiar with the common accounting software use by most corporate.

Step 7: Gain Working Experience in Related Fields

Related working experiences are important in determining a success in your accounting career. If you are attending class-based accounting degree program, you could work at part-time jobs or internships in accounting firms during your college years. If you are getting your accounting degree online, then you can start gaining your full working experience in accounting with a full-time job, because an online accounting degree program allows you to plan your learning schedule that fit into your full-time job.

Step 8: Takes CPA Test & Become A Certified Accountant

You can start preparing for CPA (Certified Public Accountant) examination while earning your bachelor’s degree in accounting. You will need some accounting experience, in addition to a bachelor’s degree, before applying for the test.

Read more: http://acca-pakistan.com/2010/05/8-steps-to-your-career-success-in-accounting/#ixzz0nu2aDcT1
Free study material and course notes ACCA-Pakistan

The birth of Accounting

Accounting has a long history in China. According to historical records, as early Western Zhou era has specialized in the official accounting of income and expenditure of the office finances and taxes – the Secretary will, and the balance of property taken “in months-old will” (count it as a sporadic, the total cost-effective of the Council) method. Also appeared in the Western Han Dynasty called “account book” or “Book Books” books for registration of transactions. With officials in subsequent dynasties have managed land tax, property tax and income and expenditure. Song Guanting in processing claims or transfer land tax, to fabricate a “Four-inventory”, by “the old tube (beginning balance) + new income (current income) = fire (current expenditure) + is (end of period balance)” the balance formula checkout, material property changes in the current period changes in the balance sheet and results. This is the accounting discipline in the development of a major achievement. Late Ming and early Qing dynasties, handicraft industry and commerce with, there have been four column-based “Dragon Pulse,” which put all the accounts classified as “advance” (the income), “payment” (expenditures), “deposit” (the assets), “the” (the debt) in the category, the use of “progress – payment = deposit – the” balanced formula accounting, general ledger set up a “classified records”, and the preparation of “progress payment table “(ie income statement) and” save the table “(ie balance sheet), the implementation of dual calculate profit and loss, calculated in both the profit and loss table number should be equal, known as” co-Dragon, “to check all accounts positive error. After that, it had a “four-footed account” (also called “Heaven and accounts”), this method is: for each a registered both accounts “to account” and also registered “to account” to reflect the same accounts context. “Four-inventory”, “Dragon accounts” and “legs Account” shows the different historical periods of Chinese people’s characteristics, traditional Chinese books.

Modern accounting is a product of the commodity economy. 14,15 century, capitalist commodity currencies of the European rapid economic development, promote the development of accounting. The main signs: First, to use monetary measurement of the value of accounting; Second, extensive use of double-entry method to form the basic characteristics of modern accounting and development of the cornerstone. Since the 20th century, especially after World War II, capitalist production has been an unprecedented degree of social development of modern science and technology and economic management of the rapid development of science. By social, political, economic and technological environment, the traditional financial accounting continuously enriched and improved, so that the work of more standardized financial accounting, general and standardized. At the same time, the accounting discipline in the 20th century, 30 years on the basis of cost accounting, work closely with the modern management theory and practice needs, gradually formed to provide internal management information, management accounting systems, so that’s something from the traditional accounting After the account, afterwards, reimbursement, prior to the forecast and decision-making, something in the supervision and control, accounting and analysis afterwards. Production and development of management accounting, accounting history of a great change since then, the formation of a modern accounting financial accounting and management accounting are two branches. With the rapid development of modern production, raising the level of economic management, computer technology is widely used in accounting, accounting information so that the collection, classification, processing, feedback and other procedures out of the traditional manual operation, greatly increased the efficiency to achieve a fundamental change in accounting science.

From a different perspective of the accountant, can come to different understanding of the nature of accounting. These perceptions can be summarized as:

(1) accounting is to reflect and monitor the process of material production as a way to manage the economy.

(2) accounting is a collection, processing and distribution of economic information in information systems.

(3) The accounting treatment through the collection and use of economic information, to organize economic activity, control, regulation and guidance, and prompted a comparative analysis emphasizes the value of economic benefits to the activities of a targeted management activities.

What You Need To Know About Online Accounting Degrees

If you’re a student who enjoys working with numbers, finances, and money, a career in accounting may be perfect for you. There are many online accounting schools that can offer you the tools and the skills you need to succeed as an accountant.

With an accounting degree, you have the potential to work in a variety of different fields related to accounting. There are four main job opportunities within accounting: public accountant, private accountant, government accountant, and internal auditor.

As a public accountant, you can work as a self-employed individual who assists people with their taxes and financial advising, among other things. You may choose to focus on one area, such as tax management, and only offer that service to clients. You could also choose to offer a variety of services to your clients. Many public accountants work with retirement funds, financial planning, and advice on how best to handle funds and work benefits.

Accountants can also get hired by a company as a private accountant and work as a full time advisor to that specific company. They might help a company with budget analysis, information technology consulting, or keeping their financial records up to date. They will often help out the company’s production team and assist them in figuring out the best way to spend their money and make a profit, and they keep track of the company’s spending habits.

Another option is to get a government job for either the state or the federal government. The main task of government hired accountants is auditing. This is when an accountant looks into the tax records of a company or individual and makes sure that all of the information that person or company submitted to the government was accurate. Auditors must investigate a variety of financial records and be able to analyze them for authenticity. Government hired accountants are also needed for other tasks, including keeping track of the government’s expenses and assisting with financial management and budget analysis.

An internal auditor is an accountant hired by a company to ensure that all of the company’s financial records and dealings are accurate. If the government chooses to audit a company, they will be assured that there is not any fraudulent activity going on because the internal auditor will make sure that they know everything that is going on with the company’s money. Internal auditors make sure that all of the company’s finances and practices are in compliance with the government’s rules and regulations.

Once you have an accounting degree and you want to increase your job opportunities, you can go on to become a certified public accountant, or CPA. Becoming certified will help enable you to get a better, higher paying job, and is a good way to establish credibility and reliability with clients in the field. In order to become a CPA you need at least a bachelor’s degree in accounting and depending on your state you will need a certain number of years working in the field. Once you have those things you are able to take the exam to become a certified public accountant. If you pass you will become certified.

Accountants are able to make a good salary. According to the Bureau of Labor Statistics, the average salary made by an accountant or auditor in May 2008 was ,430 a year. However, this can vary to be anywhere from ,000 a year to over 0,000, depending on your qualifications, certification, and the branch of accounting that you work in.

Job prospects look good for accounting, because it is a field that always needs people no matter what state the economy is in. Employment rate of accountants is expected to increase in the next few years, and there should be many job opportunities. Accountants that have earned the certified public accountant title will be in an especially good position to find a well paying job. Those who are able to use computers well and are proficient in the latest accounting software will also have an advantage in the job market, as more accounting is being done on computers and online in recent years.

In order to get a well paying, successful accounting job, you will need to get an accredited degree from a good school. There are many online accountant schools that offer training in accounting. Getting your accounting degree online is easy and convenient, especially for stay at home moms or people that currently have other jobs and are looking to switch careers. You can get an accredited degree in accounting online while still balancing your family and work life, instead of having to attend classes on a physical campus. You can get a good education that leads to an excellent job by receiving your degree online.

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