Handy Accounting Essay Writing Tips

How to Write Accounting Essay

One of the areas that discusses economic issues is called accounting. Each company has an accounting department dealing with business affairs. However, it is sometimes very hard to examine economic questions. You should be aware of the subject you are going to explore. Thus, you will be able to produce a great accounting essay. Note that Economics and Business are complicated fields. There are no exact ways of preparing academic works in these subjects. That is why you should find out every last detail about the topic you are going to cover.

Guide on How to Write Accounting Essay

Research Process

Today, it is not complicated to gather information about the examined subject. There is an enormous number of journals, books, articles in Accounting on the Internet. Besides, a lot of them can be used for free. The most important thing is to make sure that the chosen sources are reliable. You should understand that it is necessary to collect only accurate data to prepare an authentic piece of accounting writing. Note that some websites cannot be used for producing academic works. The point is that they do not provide precise economic information in the accounting area.

The most effective way of collecting true facts about the addressed matter is to go to your city library. If you know what aspects you are going to cover when producing your paper, you will need just a few days to do research. That is why you should take time out of your busy schedule to look for relevant material on the tackled issue. In order to be able to cover accounting essay topics completely, you should know general background information about accounting. Moreover, you should be aware of the way the business is conducted. Thus, you will know how to implement particular financial strategies studied in class.

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When all necessary information about the analyzed issue is collected, you should arrange it appropriately. If everything is organized in the right way, it will be easier for you to choose a suitable approach to writing exclusive accounting essays. If there is a lot of material on the discussed subject, you may be easily confused. Thus, it is better to set an algorithm for preparing your work. It will help you do everything step by step. As a result, you will not miss the deadline. You should realize that it is very important to be well aware of the topic. Therefore, you will understand how to write an essay up to quality standards.

Producing accounting works is almost the same as other papers. First, you should use a formal writing style. Then, state undeniable facts to develop your ideas. By the way, you may use great accounting essay examples to explore the way of presenting information. Furthermore, you need to pay close attention to the standards of preparing such papers. If you introduce economic concepts properly, you will write a paper of top quality.

Outline and Introduction

This section presents briefly the key items of the work. It is important to create an original title. Nevertheless, it is not the only thing that has to be done to write a good essay. You also need to provide a steady data flow. As to the introductory paragraph, it should present the key idea of your paper. In this section, you should strive to interest readers in your research.

Body

In order to prepare a good accounting essay, you should apply considerable skills. You do understand that it is necessary to organize your paper properly to get an excellent grade for it. Thus, you need to construct a body logically, write a reasonable conclusion, format references properly, etc.

In the body of you work, you need to provide arguments supporting the thesis presented in the introduction. Moreover, in this section, you should also cover the points indicated in the outline. You should focus on the fundamental aspects of your paper. Therefore, you will be able to produce a reasonable piece of writing. Do not forget to format and structure your work in accordance with the reference style indicated in the instructions. Note that you can always get professional “do my essay” help online.

Conclusion

This paragraph should summarize your work reasonably. Note that it should be written properly as it may help you get additional scores. If you analyze the presented data thoroughly, you will manage to produce an effective conclusion. It should underline the most important facts of your accounting essay. However, you should not only provide information about the issue, but also examine it critically. In this case, you will be able to produce a valid conclusion. Follow these tips if you want to produce a top-notch academic work.

Fifteen Great Accounting Essay Topics

We offer you a list of perfect accounting essay topics that are relevant to this discipline. If the professor allowed you to choose the topic on your own, feel free to select one topic of the following list and write an impressive accounting essay.

  1. Offshore accounting: Key advantages and disadvantages.
  2. The most effective accounting practices.
  3. The accounting software that proved to be maximally efficient.
  4. The accounting practices in historical perspective.
  5. The development of cash flow in the US.
  6. The management of earnings.
  7. Accounting ethics.
  8. Taxes in ABC company (selecting this topic, you can write how a certain company works on reducing the taxes. Besides, you can mention that the people or organizations that do not know the essentials of the tax code have to pay more.)
  9. Why being a financial accountant is prestigious nowadays?
  10. Accounting information systems. Choosing such a topic, you can mention the rapid flow of information and the role it plays for the contemporary accountants.
  11. Financial markets. If you want to write about the financial markets, feel free to mention their role in the development of the global economy. Also, tell about their possible negative aspects, as well as point out how these risks can be reduced.
  12. Managing the personal finances. Here you can write about the benefits of people, who decided to hire the personal accountant. 
  13. Debt management. Exploring the concept of debt management, you can talk about the risks that can lead to debt, and try to find the ways to fix this problem in the future.
  14. Does the culture of the organization have some influence on accounting? 
  15. The use of internet-based accountants: the risks and benefits.

A Few Words about the Writing Style

If you choose some of the accounting essay topics mentioned above, consider the following aspects as well:

  • Each idea should be developed in a single paragraph. Mixing the ides, you will confuse your reader and will not get the desired outcome.
  • State your hypothesis (a thesis statement) in a clear and concise manner.
  • All your sources should be relevant to the topic, credible, and not older than five years. 
  • Make sure to double-check grammar and spelling. We assure you that the grammatical and spelling mistakes also negatively influence your grade.

No matter what accounting essay topics you choose, most probably you will be asked to write a paper in APA formatting style. As such, you need to include the following sections:

  • A title page;
  • An abstract;
  • An introduction;
  • Background information;
  • A literature review;
  • The methods used;
  • The results achieved;
  • Discussion;
  • Conclusion;
  • Reference list;
  • Appendix (optional).

Sample Essay on Accounting (The Advantages and Drawbacks of a Budget)

Each company has its own budget. It is not a coincidence, since a budget and budgeting (the process of carrying out a budget) are the foundation of a well-planned activity of any enterprise. What is a budget? What are the different types of a budget? According to one of the definitions, “a budget is a financial document used to project future income and expenses” (E-conomic). In other words: “A budget plans future saving and spending, as well as planned income and expenses” (E-conomic).  A budget may be also defined as “a plan expressed in dollar amounts that acts as a road map to carry out an organization’s objectives, strategies and assumptions” (Averkamp, 2004 – 2013).

Depending on the specific purposes and the areas of ​​use, there are several types of budgets. The first type is the cash flow budgets. The mentioned budgets are to tell about how much income it might be in the future. The purpose of the second type, the sales budgets, is to help to receive information about the value of the sales in the future. Sales budgets are very useful in order to plan expansion and investment. The third type, called the project budgets, is used to detail the costs of the project, which is scheduled. The last one is the production budgets. Their main purpose is to provide detailed information of the costs of producing any product. Moreover, “budgeting is usually prepared for short, mid-range, longer term time periods” (Peavler, 2013).

The Advantages of a Budget

A budget has a number of benefits, as it copes with the task of planning and allocation of finance. Let us denote its advantages:

·A budget helps to gather all the necessary information for a business plan, since it includes all the expenses and items that are required for start-up. It gives the information about how much money (to hire staff, rent an office) and resources (equipment, furniture, etc.) you will need in order to start your own business.

·A budget helps to cooperate with the lender. If you need to borrow some money for your start-up, the budget will be very useful. Due to the budget, one might receive information not only about how much money is needed to start a business, but also for the first few years of the business management. Moreover, “a reasonable budget can increase your credibility with your lender” (Murray, 2013).

·A budget provides information about how much money you can spend each month, and how much money you can get through your business.

·A budget contains information about future financial costs, such as staff salaries. Hence, it allows one to see how much money is necessary to manage the business.

Budgeting leads to planning, a coordinating and organizing role of the director, promotes initiative, provides a means of control.

The Drawbacks of a Budget

Despite its rather significant benefits, the budget also has its drawbacks. First of all, “the operation of budgets can become inflexible. For example, sales may be lost if the marketing budget is strictly adhered to at a time when competitors are undertaking major promotional campaigns” (AQA AS Business Studies). Another problem is that “budgets have to be reasonably accurate to have any meaning. Wide differences (or variances) between budgeted and actual figures can demotivate staff and call the whole process into question” (AQA AS Business Studies).

One of the drawbacks of the budget is also that it can cause discontent among the employees. Quite often, employees are unhappy with the budget. It is particularly observed at the level of divisions or departments. Many employees are suspicious of the introduction of budgeting systems, believing that it is little more than an exercise in cutting costs, and perhaps even a sign of impending reduction of working hours, staff reductions, etc. It is not surprising that such discontent grows stronger, if the budgets are meager and tough. The last drawback is slow progress. The developing of an effective budget system does take a while. The most part of the budgets that were prepared needs to be corrected, because of lack of experience and the availability of over optimistic judgments. 

Conclusion

A budget has a number of very important benefits that can ensure a successful business management. There are planning, forecasting and monitoring among them. Though any budget may have its drawbacks (it may be inflexible and cause dissatisfaction among staff), each company needs to use budgets in order to make the business management effective. There are several main reasons. The first reason is that the budgets are a reliable method for monitoring the expenditure of the organization. This is of particular importance since the cost control is a priority both in commercial and non-profit organizations. Without a budget, the organization can quickly get out from under the financial control. Some people use the funds wastefully, leaving little money for important goals. Without a budget, there is no systematic information on the availability of funds to cover mandatory costs.

The second one is that a budget gives an idea of ​​the state of business in the organization. The manager after the analysis of the budget can make the conclusion about the justification of spending, and, hence, can propose the methods for more effective use of the budget.

The third one is that the budgets are also a good way to evaluate the business performance. If actual revenues are consistent with the projected ones, and the costs do not exceed the amount in the budget, it is a good indicator of performance. The budget is also a means of motivation, because it acts as a problem. People tend to perform real budgets.

References

  1. Averkamp, H. (2004 – 2013). What is a budget?  Retrieved from http://blog.accountingcoach.com/what-is-a-budget/
  2. AA AS Business Studies. Using budgets. Retrieved from http://www.hoddereducation.co.uk/SiteImages/37/37a91ddd-aba5-42d4-a91f-f3943741a9ea.pdf
  3. E-conomic. Online accounting system. (2002-2013). What is a budget? Retrieved from http://www.e-conomic.co.uk/accountingsystem/glossary/budget
  4. Murray, J. (2013). Why do I need to prepare a business budget? Retrieved from http://biztaxlaw.about.com/od/budgetingandfinance/f/whybudget.htm
  5. Peavler, R. (2013). Budgeting. Business Finance. Retrieved from http://bizfinance.about.com/od/glossary1/g/budgeting.htm

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