Accounting Business
David Caskey
University of Phoenix
Accounting Business According to a study in 2011, accounting is one of the fastest growing industries in today’s market. Accounting jobs are expected to grow 22% between 2008 and 2018, according to the Bureau of Labor Statistics. That’s much higher than the average of all professional occupations (17%) and translates to almost 280,000 new jobs. (money.cnn.com, 2011) There will always be a need for individuals who work in accounting and because of this a well-run accounting firm has the potential to be not only lucrative but also satisfying. Staffing a firm in this field is very important and to do this there are several options, offering internships, paid or not, hiring temps, or doing interviews. Companies only want the best especially when the person or company they are hiring are dealing with finances so it is very important that the individuals hired on have an in-depth knowledge of accounting.
Services and customers To reach the maximum number of customers, the business needs to be well-rounded and touch on several accounting topics including preparing, analyzing, and verifying financial documents, budget analysis, financial and investment planning, information technology consulting, auditing, tax matters, etc. (Bureau of Labor Statistics, 2011) Customers expect professional individuals and those same individuals to be knowledgeable in all things accounting. All individuals employed by the accounting firm would have to sign a confidentiality agreement, basically stating that any information they became privy to would not be discussed with anyone other than the client. The reason for this agreement is that clients/customers want their information kept quiet, especially when it comes to financial information and to help ease potential and current client’s nerves that their privacy is of the utmost importance. The business would not be focused on any specific area of accounting but would hopefully encompass most if not all areas of accounting. The accounting firm would target all customers, both individuals and businesses. No client would be too large or small. If a customer just needed help through tax season or yearlong or even needed a custom business contract, it would be created for the customer. Pricing for the customer would be based on their needs, depending on how many services they are after and if they are willing to sign a contract. Month-to-month services would be slightly more than those customers who were willing to sign a contract, and then the customers who sign multi-year contracts would also receive additional discounts based on the length of contract.
Mission, Vision & Values The mission of the accounting firm would be to bring the highest quality of accounting services to customers for the lowest prices possible. Pricing would be competitive and in some cases the firm would match a quote provided to the client by another provider. The vision is to provide a respectable accounting firm and to treat every employee that walks through the doors with respect and dependable employment. In today’s market, businesses are closing their doors at an alarming rate and a lot of employees are worried about their jobs, whether it be they get laid off or the company shuts down entirely. This firm would have a desire to be different and to be the strong cornerstone in the community and for the people it employees. To become this type of stable employment the manager or owner of the business will probably need to be in business for a decent amount of time and build up a strong list of clients; they will also need good knowledge on how to effectively run a business. This business will be run ethically, the decisions management makes will not just be based on whether they are legal or not but also on ethics. The business will treat all of their employees equally; treatment will not be based on favoritism, sex, ethnicity or any other factor. The company will follow all rules and laws of the city in which it operates and will go above and beyond those laws to ensure its employees have a safe, comfortable environment to work. There are a lot of businesses out there that treat employees differently based on favoritism, a manager might like Steve more than Annette and treat Steve better. Equality and respect are something that will be preached and lived out every day, failure to follow such policies will result in write-ups and eventual termination.
Reason for owning a business Starting up a business is part of the American Dream because it can lead to financial freedom by being one’s own boss. Millions of American’s want to be their own boss because it offers them the opportunity to spend more time with their families, earn a great income and make a difference in the lives of the people they employ. For those who have been treated poorly in previous job, having their own business means they are able to do things their way and treat everyone the way they want to be treated. By treating employees the way that the owner would want to be treated; the owner is making a lot of progress towards creating good, positive morale within the organization. Positive morale in turn usually means happy employees and positive results. Employees who are down trodden and feel like they aren’t appreciated or respected tend to not perform as well as those who are. (IT Managers Inbox, 2012) So by treating the employees’ right, the owner is helping to ensure his people will work harder and put in more effort to do the job right all the time.
Conclusion
Starting one’s own business is loaded with opportunity and the good reason; it takes a lot of commitment and a willingness to work through difficult situations to succeed. But in the end if the business pulls through the results are well worth the sacrifices that were made. Having a solid vision, mission, ethics and a plan for future employees and customers, all play an equal yet different role in the process. Offering a good product or service to your customers will keep them coming back year after year and will give them incentive to share their experience with others. Offering a competitive benefits’ package and treating employees with respect will encourage positive morale in the company and hopefully create a desire in the employees to do a good job. And in the end will create a successful business that if lucky will continue on for years to come.

References
Bureau of Labor Statistics. (2011). Accountants and Auditors: Occupational Outlook Handbook. Retrieved January 8, 2012, from http://www.bls.gov/oco/ocos001.htm
IT Managers Inbox. (2012). How to Deal With Low Morale in The Workplace? Retrieved January 8, 2012, from http://itmanagersinbox.com/1648/how-to-deal-with-low-morale-in-the-workplace/
Velshi, A. (2011). Today’s ‘it’ Jobs: Accounting and IT. Retrieved January 8, 2012, from http://money.cnn.com/2011/01/06/pf/jobs/fastest_growing_professions.moneymag/index.htm