Accounting Module 1

School: Southern New Hampshire University - Course: ACC 201 - Subject: Accounting

ACCOUNTING Module 1 Automation method of using systems such as computers or robots to operate different processes, and machinery to improve efficiencies and lower direct labor costs Balanced scorecard tool used to evaluate performance using qualitative and nonqualitative measures Board of directors group of individuals elected by the shareholders of a company with the role of placing management, supervising management, and making key decisions on major issues of the company Bribery when an organization or representative of an organization gives money or other financial benefits to another individual, business, or official in order to gain favor or to manipulate a business decision Budget analyst someone who arranges and manages the master budget and compares master budget projections to actual results Cash-management accountant someone with responsibilities that include transferring monies between accounts, monitoring deposits and payments, reconciling cash balances, creating and tracking cash forecasts, and performing all other cash-related financial processes Certified Fraud Examiner (CFE) signifies proven proficiency in fraud prevention, detection, and deterrence; requirements include bachelor's degree, two years of work-related experience, moral character references, and passing of four separate exams Certified Government Auditing Professional (CGAP) designation exclusively for auditors employed throughout the public sector (federal, state, local); requirements are the same as for the CIA, but with a different exam Certified Internal Auditor (CIA) credential offered by the Institute of Internal Auditors (IIA) and one of the only certifications accepted worldwide; requirements include a bachelor's degree, two years of work experience in a related field, and passing the three sections of the examination Certified Management Accountant (CMA) certification for a specialist in corporate accounting management, including financial analytics, budgeting, and strategic assessment; requires a bachelor's degree, two years of work experience, and successfully passing both parts of the exam Certified Public Accountant (CPA) top tier in accounting certifications; in the United States, each state has different educational and experience requirements, and certification requires passing the four-part CPA administered by the American Institute of Certified Public Accountants (AICPA)

Chartered Financial Analyst (CFA) certification for a career in the finance and investment domains; requirements include a bachelor's degree or four years' experience and passing all three sections of the exam Chief executive officer (CEO) executive within a company with the highest ranking title who has the overall responsibility for the management of a company; reports to the board of directors Chief financial officer (CFO) corporation officer who reports to the CEO and oversees all of the accounting and finance concerns of a company Collaboration working in cross-functional teams and earning the trust and respect of colleagues in order to complete a task Commercial awareness knowing how a business is run and how it is influenced by the external environment, and knowing and understanding the overall industry within which the business is operating Continuous improvement ongoing effort to improve processes, products, services, and practices Controller financial officer of a corporation reporting to the CFO who is responsible for an organization's accounting records, financial statements, tax returns, and internal reporting Controlling monitoring of the planning objectives that were put into place Corporate social responsibility (CSR) actions that firms take to assume responsibility for their impact on the environment and social well-being Cost accountant employee who amasses large sums of data, checking for accuracy and then formulating the cost of raw materials, work in process, finished goods, labor, overhead, and other associated manufacturing costs Effective communication conveying information in both written and oral forms in a way that the intended audience can understand Enrolled Agent (EA) credential focusing on a career in taxation; created by the IRS to signify significant knowledge of the US tax code and the ability to apply the concepts of that code Enterprise resource planning (ERP) system that helps a company streamline its operations and helps management respond quickly to change