Accounting
Accounting is a very important part of the business world today. It helps protect, defend, and keep businesses running. Accounting regulates businesses and makes sure everything balances out, so that things are not unfair. The role of accounting in a business is to control activities and expenditures, improvement of operational plans, accountability, reporting on project outcomes, and the writing of bids for new funds. There are many jobs that the accounting system accomplishes. Accounting has to do with the profitability of a business. It relays vital operating information to managers who need to analyze the information and make important decisions. Accountants are the "middle men" between workers and managers. They analyze the profitability and all of the transactions. They make reports on them. They give these to the managers. The managers make decisions based on the information presented to them. Accounting can also help protect the public. When businesses "cheat," accountants are suppose to pick this up. There are two basic types of accounting: financial accounting and managerial accounting. Accounting could have provided much help in cases where businesses become corrupt. One example of this is the Enron scandal. Accounting plays a major role in every business, as evidence by the impact it had on a major multi-million corporation like Enron. Accounting plays a major role in every business.
The Enron Corporation pulled a huge scam that will go down in history. Many people were affected in this scam. Accountants at the time made a huge mistake, which caused many people lots of money. Enron declared bankrupt in November 2004. They forced the stock to plummet, making many people lose money. "Not surprisingly, public confidence in the integrity of ...