During the final semester, sometimes accounting students will have a dilemma regarding choosing what concentration is suitable for them to meet the challenges of the world of work. Here are some accounting concentrations that you must know.
1. Financial Accounting ( General Accounting )
This field of accounting is also known as financial accounting , where all financial activities or transactions are presented or recorded in the form of corporate financial statements. The financial statements in question can be in the form of an income statement, balance sheet, or a report on changes in capital. All of these financial reports are required when the company (internal party) publishes them for investors, shareholders, creditors, and the government (external parties). In turn, interested parties can make business decisions based on these financial statements.
2. Audit Accounting ( Auditing )
Reports prepared in financial accounting need to be audited. So, the purpose of Audit Accounting is to ensure the accuracy and validity of accounting information in the financial statements so that the data listed can be trusted and are in accordance with applicable policies. In the Auditing process , an Auditor can submit an opinion on the appropriateness of a company’s financial statements.
3. Management Accounting ( Management Accounting )
Also known as Managerial Accounting, this area of concentration deals with the management activities of the company. Therefore, one company may have different Management Accounting from other companies. The type of information produced by Management Accounting can be in the form of work program planning (qualitative) and financial reports (quantitative), both of which are needed by managers in controlling activities, monitoring cash flow, to assessing alternatives for decision making.
4. Accounting for Government ( Governmental Accounting )
Government accountants work at the Directorate General of Taxes, BPK, BPKP, Ministry of Finance, and other government agencies. Yup, it’s not just companies that need professional accountants, huh! Basically, wherever an accountant works, the goal is the same, namely to prepare and provide financial reports. As a bonus, Government Accounting also plays a role in supervising state finances, especially controlling budget expenditures.
5. Accounting Budget ( budgetary accounting )
This is where the basic revenue and expense budget is prepared according to predetermined guidelines. Budgeting can be in the form of future financial planning or comparison of plans with actual activities. Budget Accounting function is to control the finances in order to avoid excessive expenditure ( over budget ), which resulted in the profit and loss account and the company’s future.
6. Accounting Education ( Educational Accounting )
This is where there is teaching Accounting as a complete field of science, even from the preparation of the educational curriculum. Educational Accounting also includes processing financial transaction data and presenting financial reports at educational institutions so that teaching and learning operations continue to run well.
7. Cost Accounting ( Cost Accounting )
This field of accounting deals with the management of company costs that have occurred and will occur. So, Cost Accounting functions as planning as well as controlling and controlling costs in the company’s operational activities. As an illustration, from a product produced by a company, there are many details of the costs in it such as raw material costs, promotional costs, labor costs, and so on. All these costs must be calculated in detail in order to achieve a product selling price in accordance with the company’s profit target.
8.Tax Accounting ( Tax Accounting )
The financial statements produced by Tax Accounting are in the form of quantitative data on corporate tax calculations. As a taxpayer, the company has Taxable Income (PKP) earned during one period (tax year) which is then used as a tax expense (income tax).
9. Accounting Information Systems
This field of concentration combines Accounting Science with Technology Science. This is where a planning scheme is made and the implementation of procedures for processing financial transactions into financial information. Please note, the smoothness and success of the accounting process is very dependent on a good accounting information system. So, by studying Accounting Information Systems means that you can develop an effective and efficient system to support the company’s decision-making process.
10. Social Accounting ( Social Accounting )
When a company is involved in Corporate Social Responsibility , this is where Social Accounting is needed. This area of accounting concentration deals with the communication process between the company’s economic actions and their impact socially and on the environment, so this accounting is also known as responsibility accounting. An example of social accounting is a scholarship awarded by companies to high-achieving students.
11. International Accounting ( International Accounting )
Dari namanya, kamu bisa tebak kalau bidang konsentrasi Akuntansi ini berkaitan dengan perdagangan lintas negara (internasional). Setiap negara pasti punya budaya bisnis, nilai matauang, politik, regulasi, risiko bisnis yang berbeda dari negara lain, sehingga diperlukan harmoninasasi standar internasional ketika suatu perusahaan melakukan kegiatan ekspor dan impor. Nah, disinilah Akuntansi Internasional berperan.
12. Akuntansi Perbankan
Akuntansi Perbankan berkaitan dengan data keuangan dan kegiatan operasional lembaga perbankan. Informasi yang dihasilkan dalam Akuntansi ini kemudian dapat digunakan oleh pihak-pihak internal maupun eksternal yang berkepentingan.