Her activities working with the government are just like those of an accountant in the business world, but she also has a few tasks that are related to the government. Her job is a big one (although she certainly isn't the only governmental accountant in St. Louis). But imagine the number of postal orders, for example, in just one day-millions. Some departments and independent agencies spend more than a billion dollars a year. Eileen, a highly trained accountant, can keep up with this endless flow of figures.
George works within a company organization. He is an internal accountant. His job is part general accountant and part auditor. Although George is only twenty-six years old, his job is a relatively new one. Before 1940 there were hardly any internal accountants in this country. But business expanded, and there was a need for the kind of work George does.
Today, every business has internal accounting. It means, simply, that every person in business must be on the lookout against bad procedures that might cost profits. So George ex-amines and appraises controls; he sees that the assets of the business are properly protected and accounted for. He makes sure that current transactions are promptly and completely recorded. He makes sure that faulty, inefficient, or fraudulent procedures are uncovered to save the company waste and loss.
Before he got this job, George was a teaching accountant. At that time in his life and career, he thought that he preferred the classroom to the office. Also, he liked working with people, teaching them the techniques of accounting. He wanted to pass along his knowledge to others who might someday become accountants.
Of course there are other types of accountants. Sylvia is a tax accountant. Andy is a systems and control accountant. Ruth is a budget accountant (auditor).
As a tax accountant, Sylvia is especially skilled in tax matters to help prepare her company's yearly reports. She studies the company's operations in order to find out where they might save tax dollars. (Of course, the Internal Revenue Service employs hundreds of skilled tax accountants. Many states employ tax accountants to collect and regulate the tax.)
Andy is a systems and control accountant. In his job, he sets up an accounting system, so important for creating a sound business. When businesses grow beyond the bookkeeping stage, many of them call in Andy to make their financial system more sophisticated.
Ruth is an auditor. She works for a large firm whose sole business is to audit bank records, as well as the records of stores, churches, and a number of other institutions. Before that, Ruth did the same job while working for the government. Auditing represents about 40 percent of a public accountant's business, because most businesses have an audit made of their books once each year. And that's where Ruth steps in. Her auditor's report is especially important to the company's stockholders and creditors, since it shows an impartial opinion of the company's financial condition. And for the company that's being audited, she can make very valuable suggestions for cutting costs, minimizing tax liabilities, and finding new ways to increase profits.
Some people-such as a young accountant named Alan- don't want to work for a company. They want to be independent. Alan-happens to be a public accountant, but many other types of accountants also work for themselves: CPAs (more about them later), auditors and tax accountants. Alan wanted to be independent; he also felt that, on his own, he could make as much money as he wanted and, even more important, that perhaps he could work when he wanted to.
Many people feel that even if you already have a career picked out-say, in the retailing aspect of business-it couldn't hurt to have a background in accounting.
Just to give you an idea of some of the jobs available that relate to accounting, here is a listing of some positions:
- Office Manager-accountant wanted; excellent salary; may advance to plant controller.
- Typist-bookkeeping experience necessary.
- Machine Operator-Bookkeeper.
- Computer Punch Operator-advancement more likely with some accounting education.
- Salesperson-must be experienced in bookkeeping.
As you can see, bookkeeping and accounting can help in many business jobs. But even if you're not in the business world, even if your interests lie in something more artistic or creative, bookkeeping knowledge can help you keep your financial life in order.
And, as we've said, accountants don't always stay accountants forever. Take the story of Marianne.
As an accountant, Marianne had always worked for herself. She liked it that way-the freedom, the independence, not getting totally involved in the businesses with which she worked. One of her clients was Arlene Craig Jewelry, the maker of the most beautiful and expensive jewelry for men and women in the country. Arlene Craig Jewelry was written up everywhere -on the business pages as well as the fashion pages of newspapers around the world. Movie stars, the best-dressed and certainly the most wealthy, wore Arlene Craig jewels. Marianne was delighted when she landed such a large account. And Arlene Craig herself was delighted when she landed Marianne to work for her; at last, she had found an accountant who was sharp and a person she could trust.
When Arlene Craig's partner, William Devereaux, retired and sold his share of the company, Arlene asked Marianne if she would like to become her partner in the business. Marianne wouldn't have to put up any money; she would just have to financially manage the already-blooming company.
Marianne thought long and hard. She would be giving up her own accounting business. But then, Arlene Craig's company was beginning to take up more and more time anyway. So she decided to do it.
Last year, unfortunately, Arlene Craig died. In her will, she left the entire business to Marianne.
Last week, Marianne was spotted at the theater. The sparkle on her fingers and wrists was matched only by the sparkle in her eyes.
