accounting/finance salaries (1 Viewer)

[turtleface]

and heres IBing

A day in the life of an IB Analyst
This one is really funny, especially the 8:03am and 10:00pm entries
http://www.vault.com/nr/newsmain.jsp?nr_page=3&ch_id=240&article_id=23146519&cat_id=2291

A week in the life of a IB Analyst
http://www.vault.com/nr/newsmain.jsp?nr_page=3&ch_id=240&article_id=16069865&cat_id=2291

and one more from an Indian source (in english)
http://in.rediff.com/getahead/2005/dec/19ibank.htm
This one is a bit controversial though

 

[Eagles]

what do auditors actaully do?

i cant seem to find an accurate description anywhere

Put in its most simplest terms, you're given a checklist to see if the accounts comply with each point.

Big 4 auditers grab their client's system. Checking for flaws and possible gaps in their accounting methods.
e.g. from the purchase to the sale of an item gets recorded.

Then, they take random samples of items and track its recording. (don't check everyone of course.. could be millions of transactions!)

If everything checks out right. they sign off the financials as 'true and fair'

AUDIT - All U Do Is Ticking

 

[turtleface]

Put in its most simplest terms, you're given a checklist to see if the accounts comply with each point.

Big 4 auditers grab their client's system. Checking for flaws and possible gaps in their accounting methods.
e.g. from the purchase to the sale of an item gets recorded.

Then, they take random samples of items and track its recording. (don't check everyone of course.. could be millions of transactions!)

If everything checks out right. they sign off the financials as 'true and fair'

AUDIT - All U Do Is Ticking

No I think you'll find only junior Auditors like Graduates, Cadets, Co-ops and Vaccas do this because they have no idea of the ramifications of what they are checking off.

 

[jase_]

Well, thats basically what an auditor does (what Eagles said). Obviously, these tasks are mainly what Graduates and Analysts do, as mentioned above. Once you move onto Senior Analyst, Manager, Director, Partner, etc, you obviously have a bigger role and move into a more managment position. If you're in one of these positions you usually delegate the above task to someone you are supervising and you just manage the project pretty much (budget, talking with client, etc). Usually, you'd be managing a number of clients at once. As a Director or Partner, you're job is mainly to find new clients rather than do the field work, and also to review all reports before they are approved.

 

[seremify007]

From what I've derived from Claudia's comments during tutes, the acctounting we do in 1501 is very different from "real world accounting". 1501 is more book keeping so keep that in mind. People will correct me on this if I am wrong.

What we learn in Acct1501 is book keeping. It's what people who do a TAFE course in Accounting learn to do.

People from UNSW who pursue careers in accounting tend to go into more specialised fields (eg. Auditing, Insolvency, Consultancy, etc...) which will require post-graduate qualifications and have very little book keeping (or none at all).