What is an Accountant ?

Accountant (Definition)

An accountant keeps track of business transactions and financial records to issue financial statements and determine how a company is doing on a financial level. Accountants use a knowledge of maths, law and finance to provide business owners and investors with comprehensive details on how a company is performing. They work on behalf of large enterprises, small businesses and individuals.

The role includes:

• Invoicing customers
• Keeping track of sales
• Keeping track of money owed
• Recording expenses and invoices from suppliers
• Moving money through accounts to pay bills
• Maintaining payroll
• Paying employee wages
• Reconciling bank statements
• Creating financial statements, including income statement, balance sheet, statement of cash flows
• Managing inhouse financial reports
• Analysing and reviewing budgets and expenditures
• Preparing profit and loss statements
• Finalising tax reports
• Compiling general ledger accounts
• Resolving discrepancies in accounting
• Maintaining financial databases and software systems

Also read: What is International accountant day?