One thing that surprised me when I started working at Liggett Stashower was how tightly all the other departments were tied to the finance department. Since getting jobs done for our clients often involves using other vendors, the finance department is crucial in making sure that the payments for every vendor (which are substantial in number) get out on time to the right place. It is a much different environment than what my accounting classes have lead me to believe.
Accounting classes prepare you by talking about journal entries, general ledgers, and financial statements. This is only a small part of what actually happens in finance. Computer systems help to automatically post journal entries and take care of the ledgers without the need to prepare the entries one by one. They are a necessity, since vendors and clients often get in contact with us over various issues with the billing, and preparing journal entries while interacting with the vendors and clients would be a difficult task. In short, accounting classes help you understand the basics, but until you become part of a company, it is impossible to see the whole picture.
Bob M.
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