Glossary

I am a student in business at college Ahuntsic. This glossary will be really useful for the others students in business like me because they will find a lot of definitions.

Accountant: One that keeps, audits, and inspects the financial records of individuals or business concerns and prepares financial and tax reports.

Agent: A person who does business for another person.

Beneficts: A payment made or an entitlement available in accordance with a wage agreement, an insurance policy or a public assistance program.  

Broker: a person who buys and sells goods or assets for others.

Budget: An estimate of income and expenditure for a set period of time.

Capital: Wealth in the form of money or other assets owned by person or organization or available or contributed for particular purpose such as starting a company or invesing.

Calculator: A small electronic device with a keyborad and visual display for making mathematical calculations.

Consumer: A person who buys goods and services  

Debt: Something, typically money, that is owned or due. 

Deposit: A sum of money placed or kept in a bank account, usually to gain interest.

Distribution: The delivering of products to end-users

Fee: A charge or payment for professional services.

 Firm: A business organizations, such as a corporation, limited-liability company or partnership. 



 

Accountant/ Auditor

My field of study is business I choose this article because  I will probably go on accounting at university.

A Day in the Life of an Accountant/Auditor

 Accountants take care of all the transactions for individual or institutional customers, they are sometimes in charge with examining the tax implications of those actions. Accountants have to be comfortable with numbers, but they also need to oversee others work. As a “financial physician”, you’ll be the person who deliver bad news and people will be less friendly with you. The hard part of the job for an auditor is the fact of those people don’t pay attention to their own numbers. A normal internal auditor spends a little part of his time on paperwork, the rest is spent on the phone, traveling to different locations or meeting meeting with executives, clients, representatives, and other divisional auditors. The lifestyle of a tax accountants is different from auditors and general accountants. Personal income tax accountants, mostly employed at small firms or self-employed, are responsible for following clients’ revenue. They are really busy in April because everybody is doing their tax. The level of satisfaction in the profession is high, but you have to like it since the school.

Paying Your Dues

Almost all industries require a bachelor's degree in accounting, finance or a related discipline. They encourage those who are good in computer science. Some candidates want to enhance their profiles by obtaining master's degree in business, accounting or finance. Most accountants want to get the title of CPA, the requirements vary from one province to another, so they must be well informed.

Present and Future

In 1494 after de publication of a book by mathematician Luca Pacioli accountinf become a “science”. In the United States, accounting grew considerably as a profession with the passage of federal legislation mandating income tax in 1913 and the excess profits tax in 1917. The future of accounting looks great for some types of accountants for example, Corporate tax advising, tax planning, internal auditing.

Quality of Life

PRESENT AND FUTURE   

Most accountants and auditor beginners are monitored essentially apprenticed to the most experienced professionals in the field those cost accounts or junior internal auditors. During the first two years, many people study for their CPA exam. Nearly half of the 15 percent who leave the profession within the first two years are to gain further education in a related field.

FIVE YEARS OUT

 Mobility is the most important characteristic of the profession after five years. The professionals begin to specialize in private or public accounting, and reach levels of greater responsibility. Some start their own businesses; others become internal auditors in corporate clients. Some accountants also start in related fields such as banking, financial analysis and asset management.

TEN YEARS OUT

All accountants do not follow the same paths, there are starting their own business and those who decide to work for a company. Salary increases significantly at this point for the independent practitioner who has built a considerable client base. A variety of positions related to management are available. Some accountants become independent consultants and they begin to work fewer hours and want to have more free time for themselves and their family.

Canada business

How to use Canada Business Network 


How to use canadabusiness.ca to search the information you need to start your business?

In this website http://www.canadabusiness.ca/eng/  you will find all the information you need to create your own business. This is a website made by federal government to help canadians to build their business. Their goal is to promote growth and prosperity of their business. There are also a lot of information about the programs and the regulations made by the gorverment.

If you want to start your business I really recommend you to visit this website. 
 

https://www.youtube.com/watch?v=4-oyN82ZFY8