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Write 5 pages with APA style on Description of Accounting Industry. The accounting Industry is a very important service industry and has a strong growth potential.The Accounting Industry has grown ste
Write 5 pages with APA style on Description of Accounting Industry. The accounting Industry is a very important service industry and has a strong growth potential.
The Accounting Industry has grown steadily in the past five to ten years and is "expected to grow faster than average for all occupations through the year 2014 (U.S. Department of Labor Bureau of Labor Statistics)." The growth of the economy will increase new businesses will increase the need for accountants to handle the financial affairs of those businesses. Employees in the accounting industry set to retirees or changing careers will also increase jobs in this industry. One major trend that will increase jobs in the Accounting Industry is due to accounting scandals. Accounting scandals have lead to changes in laws and regulations, which in turn will increase the number of jobs in the industry. "In response to accounting scandals, new federal legislation restricts the non-auditing services that public accountants can provide to clients. If an accounting firm audits clients' financial statements, that same firm cannot provide advice in other accounting areas such as legal matters, investment banking, and human resources (U.S. Department of Labor Bureau of Labor Statistics)." These regulations are to help prevent scandals and fraud in the accounting industry.
