I remember an accountant in Chicago telling me: “Accounting is not about mere figures; it’s the art of analyzing and interpreting data to make it respond correctly.” The above statement is enough to make a person catch the idea what an average accountant in Chicago means; however, there are different types of accounting services that Chicago accounting firms and individual accountants provide.
- Industrial Accounting: These are limited only to single firms and an accountant works under a single employer in return for a fixed salary.
- Public Accounting: The public accountants are the people who offer their services in this type of accounting. A more professional outlook being its prime forte, it’s better to go for a CPA (certified public accountant) if you are thinking on a national/international level.
- Governmental Accounting: Maintaining accounts for the Government is what this type of accounting deals with, using the double-entry method to update and maintain the journals and ledgers. The objective remains providing an efficient service rather than making substantial profits and both private and public accountants form a part of a governmental accounting team.
The other two types of accounting handled by accountants in Chicago are Fiduciary Accounting and National Income Accounting. The former involves a key person in the position of trust who keeps records and prepares reports under the authorization of a court of law, while the latter uses economic and social concepts to take accounting to further heights.
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