Improper use of technical jargon can hamstring the financial records and reporting capability of any accounting department. FOR instance... to a lot of lay people Accounts Payable means vendors, or checks written to vendors. The proper technical definition of Accounts Payable is the "unpaid liabilities to vendors for expenses". They are two VERY different things. Even trained personnel mix up Accounts Payable and include long-term liabilites due in the current period in the Accounts Payable listing for a period. While long-term liabilities due in the current period may have the same due date as an account payable, they would be considered a Current Portion of Long Term Debt and listed separately from Accounts Payable on the balance sheet. So.... knowledge of the terminology and jargon is VERY important, even though it may not seem like it to the lay person.
Absolutely!
the accountant possesses a level of knowledge of the accounting principles and practices of the industry in which the entity operates and an understanding of the business of the entity
$1000/- an average for good consultants who are specialized with Training, Consulting and industry knowledge..especially for people with SAP Accounting,IT,Commercial,HR consulting
Jonathan A. Hales has written: 'Accounting and financial analysis in the hospitality industry' -- subject(s): Hospitality industry, Accounting
Including industry terminology will show you are “current” with the profession and know what the trends are at this time. To determine industry terminology, perform an Internet search of the job title or profession and see what terms occur frequently. If you are unsure of some terms, look them up. Some companies have their own “lingo”.
Charles Xavier Thomas, of France, is credited with starting the calculating and accounting machines industry when he introduced the arithmometer in the 1870s.
David F. Morland has written: 'Accounting for the petroleum industry' -- subject(s): Accounting, Petroleum industry and trade
C. T. Heazlewood has written: 'Financial accounting and reporting in the oil and gas industry' -- subject(s): Accounting, Gas industry, Petroleum industry and trade
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Horace R. Brock has written: 'Cost accounting' -- subject(s): Cost accounting 'College accounting: theory/practice, complete' -- subject(s): Accounting 'Cost accounting; theory/practice' -- subject(s): Cost accounting 'Oil & gas accounting' -- subject(s): Accounting, Gas industry, Petroleum industry and trade 'Individualized performance guide for Cost accounting' 'College accounting; intermediate/advanced' -- subject(s): Accounting
There are many fields in accounting including, forensic, tax and general accounting. Typically, specialized accountants make the most money in the industry.
business accounting