Accounting is an information system which measures, processes and communicates financial information about an identifiable economic entity. This information allows users to make reasonable choices among alternative uses of scarce resources in the conduct of business and economic activities, The modern view of accounting is to regard it as a service activity; it is a link between business activities and decision-makers.
The accountant must possess certain ethical qualities to live up to the high standards of the profession. Accountants are professionals with a high degree of integrity, i.e. a person who is honest and candid and places personal gain second to service and the public trust. He/she must also be objective, impartial and intellectually honest. The accountant must avoid all relationships that impair, or appear to impair his/her objectivity, and must keep the information he/she works with confidential.
In addition to possessing these ethical qualities, the potential accountant must enjoy working in an environment, which requires ambition, dedication and good analytical and communication skills (both oral and written). Along with this, the potential accountant must develop the ability to apply accepted rules of practice, in a timely and efficient manner so that deadlines for required information are met.
There are many opportunities for the graduate accountant. He/she might join a public accounting firm, which offers services such as auditing, tax, management advisory and/or small business services. The graduate accountant might also join the staff of a business firm and work as a management accountant in manufacturing, retail, banking, or other private industrial companies. According to most recent surveys, more top-level business executives have backgrounds in accounting and finance than in any other field. In more recent years, many opportunities for employment in accounting have developed in the area of government and not-for-profit accounting. There are also opportunities for the graduate accountant to pursue graduate study to enter the field of accounting education.