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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?

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