Accounting at the University of Minnesota, Crookston About Accounting Accounting is the profession that deals with providing financial data used in making business decisions. The basic functions of auditing, taxation, and management services and systems are essential throughout the economy. Accountants serve in a variety of specialized roles.
Financial accountants prepare financial statements used in making investment and lending decisions.
Auditors examine financial statements and attest as to whether those statements are fairly presented. Management accountants identify and communicate internal financial information used by managers to operate a business. Accountants also work with taxes for employer firms, for clients, and for government agencies. Because of their specialized knowledge, it is not unusual for accountants to move into management positions or positions as consultants. The bachelor of science degree in accounting is designed to provide students with both the theoretical and the analytical framework required to work effectively in public, private, or governmental accounting.