Accounting

Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.

Accounting can be divided into several fields including financial accounting, management accounting, external auditing, tax accounting and cost accounting. Accounting information systems are designed to support accounting functions and related activities. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.

Accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms, and are prepared in accordance with generally accepted accounting principles (GAAP). GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States and the Financial Reporting Council in the United Kingdom. As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS).

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Scholarships for Accounting Majors

Bullet name award deadline Link
 

Siebel Scholars Program

Siebel Scholars Foundation

$35,000 Varies See Details
 

Siebel Scholars Program

Siebel Scholars Foundation

award

$35,000

deadline

Varies
See Details
 

CIA Undergraduate Scholarship Program

Central Intelligence Agency

Up to $42,230 July 18, 2021 See Details
 

CIA Undergraduate Scholarship Program

Central Intelligence Agency

award

Up to $42,230

deadline

July 18, 2021
See Details
 

Scholarship for Service - University of Idaho

University of Idaho, College of Engineering

Up to $18,000 Varies See Details
 

Scholarship for Service - University of Idaho

University of Idaho, College of Engineering

award

Up to $18,000

deadline

Varies
See Details
 

President's Scholarship - Texas Wesleyan University

Texas Wesleyan University

Up to $12,000 Varies See Details
 

President's Scholarship - Texas Wesleyan University

Texas Wesleyan University

award

Up to $12,000

deadline

Varies
See Details
 

AICPA Fellowship for Minority Doctoral Students

Accountemps/AICPA Student Scholarship Program

$12,000 May 31, 2021 See Details
 

AICPA Fellowship for Minority Doctoral Students

Accountemps/AICPA Student Scholarship Program

award

$12,000

deadline

May 31, 2021
See Details
 

Alois Bulawa Scholarship

University of Wisconsin, Milwaukee - Lubar School of Business

$10,500 Varies See Details
 

Alois Bulawa Scholarship

University of Wisconsin, Milwaukee - Lubar School of Business

award

$10,500

deadline

Varies
See Details
 

Mas Family Scholarship

Mas Family Scholarships

Up to $10,000 Varies See Details
 

Mas Family Scholarship

Mas Family Scholarships

award

Up to $10,000

deadline

Varies
See Details
 

Christine and Clarence Day Business Scholarship

University of Mississippi

$10,000 Varies See Details
 

Christine and Clarence Day Business Scholarship

University of Mississippi

award

$10,000

deadline

Varies
See Details
 

Business Scholars Program Scholarship

Asbury University

$10,000 Varies See Details
 

Business Scholars Program Scholarship

Asbury University

award

$10,000

deadline

Varies
See Details
 

3M Business Development Fellowship

University of Minnesota, Carlson School of Management

$10,000 Varies See Details
 

3M Business Development Fellowship

University of Minnesota, Carlson School of Management

award

$10,000

deadline

Varies
See Details