What is an Accountant ?
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?