tax accountant salary

Who is The Most Famous Accountant?

Accountants are likely not the sort of people that you would associate with fame and glory, but suffice it to say that the field of accounting is so pivotal to how things work around here that some members of the industry have managed to become household names, at least among professionals. There are numerous accountants that can safely refer to themselves as truly famous, but there are none at all that would come close to the level of renown that the father of accounting himself currently enjoys. It might shock you to hear this, but the person that invented a huge chunk of modern accounting practices was actually a Franciscan friar by the name of Luca Pacioli! Pacioli, who is usually referred to as Fra Luca to recognize his role in the Franciscan community, lived during the mid 15th century, and he inspired many of the Odoni Partners CPAs that you might want to hire as well. He existed during the Renaissance period, and this just goes to show that this era was not just about works of art but rather various sciences were developed as well with Pacioli being the main contributor to accounting. Since Pacioli invented accounting, he himself was called a mathematician. He came up with several techniques that helped make accounting more reliable, and it’s all thanks to him that modern commerce can be conducted with such a minimal level of effort. Double entry bookkeeping, a fundamental component of accounting as it is done today, was invented by him. Using this method helps businesses plan for the long term, and some of the bulwarks of our global economy owe a sizable debt to Pacioli and his genius.

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open systems accounting software

Is Quickbooks Similar to Excel?

People often refer to vast umbrella categories of products with a brand name that is based on the most popular brand that offers products in that particular kind of subset at any given point in time. This can often cause confusion, and a big part of the reason why that is the case has to do with the fact that you might refer to all products of that variety with a brand name that might not accurately describe the extent to which they can end up helping you out in some way, shape or form. A really great example of this that you should be mindful of is that of Excel. This is a gratis regnskabsprogram that you can use for some of the more basic accounting needs that your small business would need you to handle, but suffice it to say that it is a far cry from something like Quickbooks. People often refer to Quickbooks as a version of Excel, but that’s mostly due to the reason that they lump all spreadsheet software into the same kind of label or name, so you should know that while Quickbooks is a spreadsheet application similar to Excel it is also quite different based on the features that it can potentially enable you to take advantage of. The basic structure of your Quickbooks files will be in a spreadsheet format that would look rather identical to Excel, but it also has numerous other things that you can use which Excel just won’t provide. Still, the similarities between the two means that if you know how to use Excel you can most probably use Quickbooks as well to one extent or another.

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tax accounting vs financial accounting

How Much Does a Cost Accountant Make?

Quite a few aspiring professionals are thinking of getting into the world of accounting due to the reason that they have seen some accountants raking in small fortunes in income each and every single year. In spite of the fact that this is the case, it is important to note that you will not be earning such money if this is your first year with a proper white collar job. At the end of the day, you need to climb the slippery rungs of your organization if you want to obtain such salaries, and you’ll need to make do with entry level roles before you can get to that stage. A really great starting point for aspiring accountant in Chicago is to become a cost accountant. These accountants deal with the minutiae of expenses that any and all business would undoubtedly end up taking part in, and that enables them to figure out an ideal circumstance for themselves since it gives them a relatively low stakes role that they can leverage to learn the ropes and figure out what would be required of them down the line. Cost accountants get paid somewhere in the range of $38,000 to $42,000 per year, and you’d get some bonuses on top of that as well which can go towards certain other payments that you’d need to take care of. This is a pretty easy job to do and it would be more or less unlikely that you’d have to put in anything more than a regular nine to five. That can give your life a nice little routine which you can continue to follow until you are finally up for a raise.

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