Very important part of any business Essay Example
Very important part of any business Essay Example

Very important part of any business Essay Example

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  • Pages: 3 (683 words)
  • Published: August 28, 2018
  • Type: Essay
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Reporting and analyzing financial statements is a crucial aspect of any corporation or business. The accounting process serves this purpose to aid investors and lenders in making informed investment decisions based on a company's current financial standing.

An accountant's responsibilities involve generating and evaluating financial records, such as cash flow statements, income statements, balance sheets and reports regarding current assets, liabilities and owner's equity. Such reports are typically presented to stakeholders and company owners. In the industry of business, accountants generally conduct budget analysis, audits, management accounting and financial accounting tasks. However, those with an accounting degree may also consider job opportunities beyond business settings.

Accounting graduates have the option to pursue careers as special agents in the Federal Bureau of Investigation or revenue agents in the Internal Revenue Service. Alternative career paths are gaining popularity due to the comp


etitive job market, making corporate job applications challenging for those lacking relevant experience. Conversely, becoming a special agent of the FBI or internal revenue agent has more relaxed requirements compared to corporate positions. Despite being less commonly considered, an accounting graduate's acquired skills would be beneficial in these roles. Typically, accountants working within corporations handle financial statements, tax affairs and monitor international transactions.

Within the business sphere, employment offers a potential route to becoming an audit manager or heading up a company's finance department. Conversely, specialized agents such as internal revenue agents or special agents undertake investigative duties, including analyzing financial and income statements as well as reviewing tax declarations to ensure proper tax obligations are being met. Such agents have to scrutinize company financial reports, with an accounting background being essential for achieving success in their respective

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Job application processes for accounting careers are similar in both business and government agencies, such as the IRS or FBI. However, companies have stricter requirements when hiring auditors compared to other positions. To become an auditor in a company, applicants need to hold an accounting degree and relevant work experience. In addition to this, there are specific age criteria that must be met for the role. Meanwhile, becoming an internal revenue agent requires candidates to possess a college degree and work experience in accounting. Moreover, they must fulfill the age requirement set by the Internal Revenue Service.

To qualify as a special agent in the FBI or an internal revenue agent in the IRS, applicants must satisfy specific requirements. These include possessing a four-year college degree and falling within the age range of 23 to 27 years old. An accounting degree can prove beneficial for special agents in conducting investigations, especially when handling financial cases across various firms. Typically, starting salaries for entry-level accounting roles hover around $30,000 per year and staff accountants employed by corporations can anticipate earning roughly $40,000 annually.

Starting as a trainee special agent in the FBI earns an annual salary of $50,000. However, becoming a manager yields a yearly salary exceeding $50,000. As a special agent assigned to field offices, your income will increase to at least $60,000 per year.

The table illustrates that the minimum annual earnings for FBI special agents are extremely competitive, especially in comparison to entry-level accounting roles and staff accountants. From my perspective, the remuneration for special agents is justifiable given their crucial responsibility in ensuring precise tax payments from corporations to the federal government. Opting for

a profession as an internal revenue agent at IRS or an FBI special agent not only provides attractive wages but also leverages the advantages of having an accounting background in these positions.

On October 26, 2008, details about job opportunities in accounting were obtained from the website

On October 26, 2008, the webpage htm from provides details on accounting industry salaries.

On October 26, 2008, the Federal Bureau of Investigation's information on career opportunities as Special Agents was accessed at http://www.fbijobs.

The website gov/114.asp features information about careers in accounting offered by the IRS. The information was retrieved on October 26, 2008, from website has a webpage dedicated to car accident injuries, known as car_acc_ira.html.

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