Online Accounting Courses

What is Accounting?

Accounting includes any sort of recording, organization, and analysis of an organization’s financial information. It is distinct from bookkeeping in that accountants also assess profitability and liability. This gives them a larger role in determining a business’s success and guiding its future financial decisions.

There are different types of accounting, each with a set of data that various stakeholders want to see. For example, financial accounting shows potential investors that you’ll make back their money, while managerial accounting helps you make better staffing and capital decisions. Taxes are a whole other matter!

Careers in Accounting

Small Business Accountants typically handle the basic financial and tax accounting tasks by assessing cash flow, assets and liabilities, and how the business can reduce its tax bill.

M&A Consultants help businesses acuire other businesses, and navigate the tax and financial hurdles. Some accountants take on a consultation role for such situations.

Entrepreneurs “bootstrap” their businesses by doing all the essential tasks themselves. While accounting is a nuanced skill, it’s not always feasible to hire an accountant. Entrepreneurs can benefit from accounting classes as they develop their businesses.