Accountants. Who are they?
An Accountant is one who is skilled in keeping accounts and books of accounts correctly and properly. They design and control the systems of accounts required for records of various transactions of business, trade, and finance. Accountants work in diverse capacities, in accountancy firms of all sizes, large and small businesses, governments, non-profit organisations, education, etc.
Their expertise spreads widely in areas such as finance, corporate social responsibility, statutory audit, tax and financial advice, HR and legal services, assurance services, and consultancy.
What is the job of an accountant?
Accountants prepare and examine financial records. They make sure that records are accurate and that taxes are paid properly and on time. Accountants perform overviews of the financial operations of a business in order to help it run efficiently.
What is the responsibility of an accountant?
Accountants are responsible for the validity of the financial statements they work on, and they must perform their duties in accordance with all applicable principles, standards and laws.
Auditing is an intensive study of the records and reports of an enterprise by accounting specialists. Auditors help to ensure firms efficiency by keeping public records accurate and confirm payment of taxes properly and on time. Auditors analyze and communicate financial information for various entities such as companies, individual clients, and Federal, State, and local governments. Apart from carrying out the fundamental tasks of the occupation they provide information to clients by preparing, analyzing, and verifying financial documents.
Forensic accounting is a special area of practice in accountancy where accounting, auditing, and investigative skills are used to assist the court in legal matters. Forensic accountants are also known as forensic auditors or investigative auditors. They investigate white-collar crimes including issues like securities fraud, embezzlement and bankruptcies.
A public accountant is a general accountant who either works for an accounting firm or has his or her own private practice. Public accountants’ daily tasks are of a wide range that includes auditing, tax and financial planning, and consulting and providing advice about compensation and benefits. Certified Public Accountant (CPA) is the statutory credential provided for qualified accountants in the U.S. for persons who have passed the Uniform Certified Public Accountant Examination.
A tax professional is specifically trained in the field of taxation. The U.S. Department of Treasury empowers tax professionals to represent taxpayers before all administrative levels of the Internal Revenue Service (IRS) for audits, collections, and appeals.
A financial accountant is part of the accounting department at an organization who often keeps records of financial statements, supervises tax payments and maintains accounts. They may work extensively with technology to compute, maintain and classify financial records. Financial accountants may also be responsible for reconciling billing vouchers and using software applications to make financial statements public, when applicable. Furthermore, financial accountants may also be responsible for dealing with statistics and transactions as they pertain to equipment management, travel accounting, accounts payable and other finances, depending on the site at which the accountant works.
Accounting consultants are persons with high subject matter expertise in preparing financial statements and reports. They also analyze, interpret and evaluate financial statements and reports for various regulatory and statutory authorities and internal management of organizations. Accounting consultants they can help a business with all of its financial needs.
While times are changing, there is still perhaps a perception, especially amongst small and growing businesses, that accountants simply do the bookkeeping and ensure that the annual accounts and tax returns are filed on time.
Today, an accountant needs to be, in the boardroom, at management and shareholders meetings. This is where the right accountant can truly add value to business.
Through the numbers they can deepen your understanding of the business model. Moreover, for an accountant numbers don’t lie. They can challenge other board members in a productive and positive way using factual based arguments. The numbers too can resolve boardroom conflict simply and efficiently. Businesses need to take risks to get ahead. They try to quantify and understand them better simply lowering the risk. A good accountant is one who understands your business processes and systems than almost anyone else. If they don’t then perhaps you have the wrong person.
The modern accountant needs to be able to think in numbers but more importantly they need to be a people person with great communication and interpersonal skills. They should be able to weave a story with numbers. A story that’s going to resonate with other people in the organisation.
Written by: Agnes Tom for European Lists
List Source: European Accountants Email Lists
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