Governmental and Nonprofit Accounting

Question: Discuss about the . Answer: Introduction: The organization Ernst and Young is a globalized corporation and thus it operates its business across the world. As it is a globalized firm, it has clients and industries throughout the world. Based on detailed study and analysis, it can be said that the particular organization Ernst and Young is operating its business across EMEIA (around 119000), Japan (around 7600), Asia-Pacific (more than 41000), Australia (about 5600) and America (over 69000). In total, the firm Ernst and Young is regulating its business across 150 countries, serving around 235 k people and earning revenue of an amount of $ 29.6 billion (Ey.com 2017). It can be said that Ernst and Young work across a broad range of industries and sectors, starting from oil and gas, mining to property developers, retail giants and entertainment or media industry. The primary clients of Ernst and Young include Telstra, Woodside, Google, NAB, Coca Cola, Santos, Wesfarmers and David Jones. The intension of Ernst and Young is to inv est in their future through investment in its people. The service lines that are provided by the corporation Ernst and Young include assurance, tax, transactions and advisory. Thus, the roles of an accountant under the head Assurance include auditing, handling climatic change as well as sustainability services, fraudulent detection and investigation of the dispute services. On the other hand, under the head taxation the roles of an accountant include computation of business tax services, international tax, transaction tax, indirect tax and prepares global compliance and reporting (Freeman et al. 2014). Moreover, the accountant looks after all the deals that are related with the transactions of the firm and these include transactions regarding mergers and acquisitions advisory, restructuring and transaction support. Others include keeping detailed information about infrastructure advisory, operational transaction services, business modeling and valuation and real estate advisory services. Finally, it can be said that an account is also r esponsible for advisory factors. Role of a New Graduate Employed in the Organization In the organization Ernst and Young, there are mainly two types of cross service lines and these are people advisory services and financial services. Thus, a new graduate who will be employed within the specified organization will mainly assist the accountant of the firm in providing various financial services and people advisory services. The new employed graduate will provide support and assist the accountant in performing his duties and this practice will help the new graduate to learn more and to gather knowledge that is more practical (Van Mourik 2014). The skills and the attributes that that are required for working in a firm like Ernst and Young include work content and self-management. Among all, the particular skill of work-content is the most important one and this is required for performing a specific profession. This skill or attribute can be developed by the help of the on the job training process or through the help of the in formal courses. The work content skills are identified as the educational qualifications that are needed as per the particular job. In addition, the self-management skill is entirely based on the personality and the temperament of an individual. Furthermore, in order to manage the organization effectively, the employability skills are also considered as an important factor. These include performing work in team, well communication skill, problem-solving ability and learning. Critically analyzing the alignment of the Skills and Attributes As per Mintz (2014), the problem solving skills, self-management skills, working in a team, well communication play an important role in every organization. However, Picker et al. (2016) stated that learning from the process is a significant aspect as this helps the new graduated people to learn knowledge that is more practical. In addition to this, Hoyle, Schaefer and Doupnik (2015) argued that technical skills and job-specific skills should also align with the requirement of the particular firm. The human resource manager of the human resource department should arrange for employee training and this will help in up gradation of the present skills of the staffs. The HR managers of the firm should put focus on the communication skills and should develop it for better communication within the workplace. References Ey.com. 2017.Ey.com. [online] Available at: https://www.ey.com/au/en/home [Accessed 23 Mar. 2017]. Freeman, R.J., Shoulders, C.D., Allison, G.S., Smith Jr, G.R. and Becker, C.J., 2014. Governmental and nonprofit accounting: Theory and practice.JPAEJOURNAL OF PUBLIC AFFAIRS EDUCATION VOLUME 20 NUMBER 3, p.441. Hoyle, J.B., Schaefer, T. and Doupnik, T., 2015.Advanced accounting. McGraw Hill. Mintz, S., 2014. Accounting for the public interest.Perspectives on accountability, professionalism and role in society. Picker, R., Clark, K., Dunn, J., Kolitz, D., Livne, G., Loftus, J. and van der Tas, L., 2016.Applying international financial reporting standards. John Wiley Sons. Van Mourik, C., 2014. Fundamental issues in financial accounting and reporting theory. Routledge.