financial advisor cost

Prior to the Enron fiasco an auditor could do all three now they can only do one if they do auditing they can do consultancy and if they do consultancy they can do auditing what is private accounting this relates to the work of accountants working in industry they could be doing the following what’s popularly referred to as general accounting that is recording transactions and keeping the company’s books they could be doing cost accounting which deals with costing other companies products and services preparing budgets analyzing actual performance comparing it with the budget and reporting significant variances to managers private accountants could also deal with accounting information systems this involves setting up systems to ensure that appropriate controls are set up prevent or identify fraud or error this particular branch accounting information systems has really grown in the last couple of years.

Now it’s also called forensic accounting let me tell you a real-life example let me tell you the story of Tom Taylor Tom Taylor worked for the FBI Tom Taylor’s job at at the FBI has changed he used to pack 0.357 Magnum pistol now he reels a number-2 pencil and a notebook computer Taylor is a forensic accountant somebody who sniffs through company books to ferret out white-collar crime the demand for forensic accountants has really surged in the past few years the qualifications are you have to have a CPA and you have to have some experience with government agencies I spent a long time on accounting information systems let me go to the last which is internal auditing internal auditor is like a watchdog which sniffs around and checks the company’s books and activities.

Check out the accounting industry trends.