Accountants in the usa

In the United States, legally practicing accountants are Certified Public Accountants (CPAs), and other non-statutory accountants are Certified Internal Auditors (CIAs), Certified Management Accountants (CMAs) and Accredited Business Accountant (ABAs). The difference between these certifications is primarily the legal status and the types of services provided. Additionally, much accounting work is performed by uncertified individuals, who may be working under the supervision of a certified accountant. However, as noted above the majority of accountants work in the private sector or may offer their services without the need for certification.

 

A CPA is licensed by the state of their residence to provide auditing services to the public, although most CPA firms also offer accounting, tax, litigation support, and other financial advisory services. The requirements for receiving the CPA license vary from state to state, although the passage of the Uniform Certified Public Accountant examination is required by all states. This examination is designed and graded by the American Institute of Certified Public Accountants (AICPA).

 

A CIA is granted a certificate from the Institute of Internal Auditors (IIA), provided that the candidate passed a rigorous examination of four parts. A CIA mostly provides their services directly to their employer rather than the public.

 

A CMA is granted a certificate from the Institute of Management Accountants (IMA), provided that the candidate passed a rigorous examination of two parts and meets the practical experience requirement from the IMA. A CMA mostly provides their services directly to their employers rather than the public. A CMA can also provide their services to the public, but to an extent much lesser than that of a CPA.

 

An ABA is granted accreditation from the Accreditation Council for Accountancy and Taxation (ACAT), provided that the candidate passed the eight-hour Comprehensive Examination for Accreditation in Accounting which tests proficiency in financial accounting, reporting, statement preparation, taxation, business consulting services, business law, and ethics. An ABA specializes in the needs of small-to-mid-size businesses and in financial services to individuals and families. In states where use of the word ‘accountant’ is not permitted by non state licensed individuals, the practitioner may use Accredited Business Adviser.

 

Public Accountants. In certain states, state law grants State Public Accountant to practice accountancy and taxation (except for audit).

 

The United States Department of Labor's Bureau of Labor Statistics estimates that there are about one million persons employed as accountants and auditors in the U.S.

 

Explanatory notes to the text:

Certified Public Accountant — дипломированный общественный бухгалтер высшей квалификации. Certified Internal Auditor — дипломированный внутренний аудитор.

Certified Management Accountant — дипломированный бухгалтер в сфере управленческого учета, профессиональный бухгалтер.

American Institute of Certified Public Accountants — Американский институт дипломированных общественных бухгалтеров.

Institute of Internal Auditors — Институт внутренних аудиторов.

Institute of Management Accountants IMA — Институт управленческого

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Economics and economy

Economics

Economics is a social science studying economy. Like the natural sciences and other social sciences, economics attempts to find laws or principles. Economics tries to find laws or principles by building models. The predictions of the models form the basis of eco­nomic theories. Then the predictions of the models are com­pared with the facts of the real world.

 

Economics as a science consists of two disciplines that are of microeconomics and macroeconomics. Microeconomics is the branch of economics that studies indi­vidual producers, consumers, or markets. Microeconomics also studies how government activities such as regulations and taxes affect individual markets. Besides microeconomics tries to understand what factors affect the prices, wages and earnings. Macroeconomics is the branch of economics that studies the economy as a whole. It tries to understand the picture as whole rather than small parts of it. In particular, it studies the overall values of output, of unemployment and of inflation.

 

The Economy

The words ‘the economy’ are words we hear or read almost every day. For example, we may be told that ‘the world economy is in the doldrums’, or ‘the European economy is making little progress out of recession’, or ‘the UK economy is beginning to recover’, or ‘the Scottish economy has held up relatively well during the recent recession’. But what is meant by the economy? The economy means a system for the management, use and control of the money, goods and other resources of a country, community or household.

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Mixed Economy

 

There are three types of management in economies. An economy may be the most totally planned, as it was in the Soviet Union. An economy may be al­most totally unplanned, as it is in the USA. Or an economy may have a combi­nation of planning and freedom of operation. Examples of the latter are Japan and South Korea.

 

In a planned economy the government decides what goods are to be pro­duced and how they are to be marketed. Governments set all the priorities, and the producers are to follow the directions given to them.

 

In a partially planned economy such as Japan's, the government often en­courages industry and helps with subsidies. Government also makes invest­ments and regulates trade.

 

The United States is an example of an unplanned economy. But it has a lot of government intervention in economic activity. As the economy of the United States grew, and as government and its importance increased, the gov­ernment policy at every level acquired greater importance for the economy.

 

But the economy of the United States may be called unplanned because the government does not regulate what will be produced and how it will be marketed. These decisions are left to the producers. Even the great amount of government regulation that has emerged since the Great Depression has not turned the United States into a planned economy.

 

The name of the American economic system is capitalism. Another name for it is the free market economy.

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A Demand and Supply

 

Demand is the quantity of a good that buyers wish to buy at each price. Other things equal, at low prices the demanded quantity is higher.

 

Supply is the quantity of a good that sellers wish to sell at each price. Other things equal, when prices are high the supplied quantity is high as well.

 

The market is in equilibrium when the price regulates the quantity supplied by producers and the quantity demanded by consumers. When prices are not so high as the equilibrium price there is excess demand (shortage) raising the price. At prices above the equilibrium price there is excess supply (surplus) reducing the price.

 

There are some factors influencing demand for a good, such as the prices of other goods, consumer incomes and some others.

An increase in the price of a substitute good (or a decrease in the price of a complement good) will at the same time raise the demanded quan­tity.

 

As consumer income is increased demand for a normal good will also increase but demand for an inferior good will decrease. A normal good is a good for which demand increases when incomes rise. An inferior good is a good for which demand falls when incomes rise.

 

As to supply, some factors are assumed as constant. Among them are technology, the input price, as well as degree of government regulation. An improvement in technology is as important for increasing the supplied quantity of a good as a reduction in input prices.

 

Government regulates demand and supply, imposing ceiling prices (maximum prices) and floor prices (minimum prices) and adding its own demand to the demand of the private sectoк