The Top 10 Beliefs Stopping You from a Career Change that you are Passionate About!

1. I don't trust myself to choose the RIGHT business or career.The fear of making the wrong choice can freeze you into inaction. So often we put a lot of pressure on ourselves to have THIS career choice be the perfect one. Give yourself a break! If you are following your heart and your passions this career choice, even if it is not the "perfect" one, will put you on the path to a career you love.2. I don't know enough."If I only knew more I would be ready to move to that next career or start my own business." It is easy to spend the rest of our lives researching, learning and NOT doing. Do you want to know how to learn the fastest? Learn in action! It's not always pretty but it gets the job done. You will never know enough until you jump into that new career or business.3. I can't make enough money doing what I love.First of all saying the word "can't" shuts down all creativity and makes that statement come true. Instead ask yourself, "What are some ideas that will turn what I love into money streams? Remember you can have several streams of income. It doesn't all have to come from one place. Sit down with a positive friend and brainstorm all the ways you can make money from what you love. 4. Changing careers is too hard.Staying at a career you hate is too hard!! Sure any change takes some focus and action but when you are moving towards your dreams it is worth it. Break it down. Take it one step at a time and soon you will be there.5. I'm to old to make a career change.I remember reading about a women who had always dreamed about being a doctor. She entered medical school at the age of 60. Often people would say to her, "Do you know how old you will be when you finish?" Her answer always was, "I'll be in my 70's anyway. I would rather be a doctor when I am 70 then just be 70." It is never too late to make a career change or start a business that brings you joy.6. I am not good at marketing and promoting so I can't start my own business.Most people do not start out being excellent at marketing themselves or their business. Don't let that stop you! There are plenty of books and classes that will teach you how. Find one that fits your personality. Also consider partnering with someone who is great at marketing and let them do it for you in exchange for a piece of the action.7. I don't have enough confidence to change careers or start a new business.Be willing to take baby steps. With each action your confidence will build. If your lack of confidence is keeping you from even taking a baby step find a Life Coach to work with you on building that confidence. Change the beliefs about yourself that are holding you back and you will take steps you never thought possible!8. I should just be happy where I am.Whenever I hear a "should" I know that compromise is nearby! It is important to follow your intuition and inner guidance. Being unhappy in a career is often a red flag from your wise self saying, "Listen up! It is time to head a different direction."9. I don't want to do anything forever.This is a common theme from a true idea person. This type of person has so many great ideas that it is hard to stick with just one. The key to success is picking one idea and growing it into a successful career or business then and only then is it time to move to the next great idea. You don't have to stick with it forever!10. All the good opportunities are gone.You don't have to be the first one to do something! Most successful businesses and careers are built by modeling what others have already done well. There are always fabulous opportunities if you are willing to open your eyes and see.

Source: Free Articles from ArticlesFactory.com

Author:

Leanna Fredrich helps people discover their passion and build a business or career around it. She specializes in helping people get over their fears and limiting beliefs quickly and easily so they can create their dreams. Are you ready to enjoy a career you love? Get the FREE report "The Top Ten Secrets to Discover Your Passion-filled Work." For your free report go to http://www.LeannaFredrich.com

obs: Searching for an Accounting Job

Accounting requires a lot of skills when it comes to business and that is why every company has an employee that is an accounting graduate. If you are an accounting graduate, you can apply in any kind of firm. Areas may include tax, audit, financial analysis

and management accounting.It is best that you apply for a job that matches your interests and expertise. There are careers that have been proven by most accounting graduates to bring them to the top of the success ladder and you may want to consider entering these fields.If you are an accounting graduate who excel in public accounting, the entry-level positions that best fit this skill are Tax Staff, Consulting/ Management Services and Staff Auditor. With these positions you will do your duties reporting to a senior. Once you have acquired three to six years of experience in any of these positions, you may then want to consider applying for the higher levels like Tax Senior, Senior Auditor, and Consulting Senior where the position entails reporting directly to a Manager. After six years of excelling with these potions, then you may consider the positions Partner level and Senior Partner.Having an edge with corporate accounting, one to three years of experience will qualify you to become a staff member in Internal Audit, Tax Accounting

, Management, and Financial Accounting. Moving up the higher lever after three to six years, you will be eligible for the Senior Level for Internal Audit, Tax Accounting and Management Accounting. Six years thereafter, you may want to consider aiming for the positions like the Tax Manager, Internal Audit Manager and Financial Accounting Manager.Expertise in Financial Management, Staff for Financial Planning, Cash Management, and Credit Analysis are options for entry-level positions. Once you have gained the enough experience, you may aim for the Treasury Operations, Credit Analysis and Senior Financial Planning. Higher positions will include Treasurer, Manager for Credit Analysis and Financial Planning.These career options are traditional paths that were found to fit best for accounting graduates. However, it does not mean that they are the only way to climb up the success ladder. You should go beyond not just limit your skills to accounting. It is still recommended that you gain enough work experience, acquire knowledge in different aspects of education, and continue to improve your character to be a step ahead with other job seekers.

Source: Free Articles from ArticlesFactory.com

Author:

Submit your articles and get a PR4 backlink to your website! Submit Articles! We provide free articles and information. Check us out at Free Articles!

3 Business Accounting Principles that Make or Break You

Business accounting is the art of analyzing the financial position and operating results of a business from a study of its sales, purchases, overhead, etc. In other words, each department of a business gathers the results of their processes to understand how the company is doing financially and how to improve those figures.

Contrary to popular belief, accounting in business is not a science, but an art-form. It is not always black and white, adding and subtracting. There are decisions to be made according to preferences of the business operations.

Relevance and Reliability are the 2 main reasons why accounting is so important for decision makers of a business.

Relevance in accounting pertains to how useful a bit of information is to a company. The potential uses will depend on the type of company and each company may be looking to learn something different.

Accounting information

that is relevant has a predictive value that helps the business make sound predictions about the future direction of the market and their company. The information can give valuable feedback as well by confirming theories and examining why events took place.

Timeliness is an aspect of relevance, which deals with having information available to decision makers when that information still has significance to sway the decision.

Reliability is determined by how verifiable and accurate the accounting measurement is in the business. The neutrality of information also plays a role in how useful accounting figures are for determining reliability.

Verifiability is a type of double checking the accuracy of calculations. Multiple people or groups will use the same method of calculation and agree that the measurement originally taken is correct.

Accuracy is known when all the numbers check out. Accuracy is high when each part of an equation confirms that the answer is correct and it represents the company's resources.

Neutrality means not worrying about the outcome of the calculations, but concentrating on the information being reliable and relevant.

Comparability, which includes consistency, is the third quality that interacts with relevance and reliability to contribute to the usefulness of business accounting as well.

Comparability looks at the similarities and differences of two different companies, markets, or time periods. Information about a particular enterprise is very useful when compared with similar information about other enterprises. It can also be useful to one business for comparison of different time periods. Comparability between enterprises and consistency in the application of methods over time increases the informational value of comparisons of economic opportunities.

Studying these business accounting principles and qualities can prove to be very valuable for an enterprise. But an extensive study is required to effectively use these principles.

Because of the importance and the intricacy of these operations, most businesses do not want to take the time to learn these calculations themselves. This is when it is wise for a company to invest in accounting software.

At the end of the day business accounting can greatly assist owners to make decisions. If the business accounting is done well, the results of decisions are more profitable. But, if it is done poorly, making decisions from that information may ruin the company.

Source: Free Articles from ArticlesFactory.com

Author:

Joe Coffee is a consultant for the online marketing firm, Web Shepherd. Visit www.AccountingAndYou.com for tips about leading methods of accounting and small business accounting options.

Satyam Fraud Case- Implication of Bank Confirmation / Bank Certificate

Subsequent to our previous post of " Saytam Fraud Case- Misrepresentation of Cash" , our further examination reveals that the misrepresentation pertains to misrepresentation of the Company's Fixed Deposit. The CEO, Raju, is personally in charge of the Fixed Deposit! An improper segregation of duties ( improper corporate governance) has given the CEO committed the fraud.

Investigation into the fraud case is on-going, and media widely reported that the investors are questioning what audit procedures have the Stayam auditor, Pricewaterhouse Coopers performed to ensure the existence of the asset.

The implication of Satyam Fraud Case highlited the importance of obtaining independent bank confirmation from the bank directly. No audit engagement should be closed without obtaining the bank confirmation as an audit evidence. Bank confirmation replies will also reflect any contingent claims by the bank towards the entity. As such, the auditors can ensure the completeness of the disclosure of Company's contingent liabilities.

In short, an independent bank confirmation / cash certificate is an important audit evidence, as evident in Satyam's fraud case.

Satyam's Fraud Case- Misrepresentation of Cash

Recently, the profession is hit by the significant fraud case involving India's IT Giant- Satyam. Satyam admitted that he has committed fraud, part of the action includes: inflating cash and bank balances by $1 billion dollar!!!

The professions are wondering how could the auditor miss out such a huge misrepresentation in cash and bank balance. In general, audit procederes include:

- agreeing cash and bank balance per Trial Balance amount to Bank Statement
- most importantly, obtaining bank confirmation directly from the client's banker

The confirmations and bank statements provide a certain level of audit comfort zone, given that it's an independent party confirmation, rather than client-generated evidence.

Nevertheless, Pricewaterhouse Coopers, who are the auditor for Satyam Computer Services Ltd, claims that the audits were conducted in accordance with applicable auditing standards and were properly supported by audit evidence. Apparently, the fraud cannot be easily discovered by obtaining bank confirmation. If not, it wuld have been discovered, given that Pricewaterhouse Coopers has been the auditor of Satyam for several years.

We shall wait for further news / reports then.

#68 Evaluation of Doubtful Debt

Subsequent to the topic of #67 Identification of Doubtul Debt, we would like to proceed further on how to evaluate the exposure to doubtful debt. A very critical question to ask: Does all long outstanding debt represents doubtful debt, for which the provision need to be provided for ? The answer is very subjective, and involved a lot of professional judgement.

Let's start the evaluation with asking our readers a few scenarios as below:

[Scenario A] XYZ Company has outstanding amout due from Company A (aged > 90 days), who is long standing customer of XYZ Company for the past 10 years with no history of default in repayment. The long outstanding amount is attributable to the slow-repaying from Company A.

[Scenario B]XYZ Company has outstanding amount due from Company B(aged > 90 days), who is long standing customer of XYZ COmpany for the past 20 years with no history of default in repayment. Company B usually paid the amounts on time. There is no dispute involved in the outstanding amount due from Company B.


We invite our 'Accouting & Auditing blog' readers to evaluate the recoverability of outstanding amount due from Company A and Company B respectively.

#67 Identification of Doubtful Debt

How do we identify potential doubtful client while performing audit ?

We have to identify the doubtul receivable before assessing the potential provision for doubtful debt for respective client. Be noted that, provision for doubtful debt should be assessed on a specified basis. General provision is no longer allowed in IAS 39. IAS 39 requires existence of objective evidence of impairment on doubtful receivable. General provision does not take into consideration of any evidence.

Let's come back to the topic on how do we identify slow moving debtors step-by-step:

1. Obtained trade debtor aging listing ( by customer) as at the balance sheet date
2. Pay attention to debtors who have outstanding debts overdue more than 60-90 days
( the number of days could be changed according to the industry norm)
3. Selected the debtors ( with significant outstanding long outstanding debts according to the audit materiality of the engagement

In short, we analyze the debtors who has: 1) long outstanding balance ( generally overdue more than 60- 90 days) and 2) the long outstanding balance is considered material for the purpose of audit.

#66 Audit Evidence- Company's Minutes & Resolutions

Reviewing Company's Annual General Meeting minutes & resolutions, Directors' Meeting minutes & resolutions, Audit Committee Meeting minutes & resolutions is part of the audit work steps.

By reviewing the Company's minutes & resolutions, the auditor will be able to know the latest development / recent changes to the Company's financial and operational positions. Changes in business directions will be discussed over the Company's meetings and documented accordingly.

Hence, the Company's minutes & resolutions serve as a good audit evidence for auditor to gain understanding of the Company's business and it should be filed in appropriately.

The auditors, usually, will visit the Company's corporate secretary office to obtain the Company's minutes & resolutions.