Who is an accountant and what does he do?

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Courtesy-biggerpockets

Be it a large scale or a small scale business, an accountant is the main player. He is the one who is responsible for maintaining and recording the money flow in the business organization. The accountant verifies the accuracy of all the monetary transactions and ensures that the transactions meet the legal guidelines associated with it. An accountant can also do the books of tax returns if he works on a contractual basis. Accountants not only work for the corporates or business entities but also work for private individuals and help them guide in financial decisions, tax returns or any other financial matters.

What does an Accountant do?

The financial health and well -being of the corporate entity is in hands of the accountant,  by using his maths and accounts and law skills he represents the financial statements. The various analysis provided by the accountant depicts the profit or loss that a company goes through during a financial year. Depending on the interpretation of the analysis various business owners and investors make a decision. Accountants in Coomera has different accounting designations like Certified public accountant, Certified financial planner, certified internal auditor, etc.

The responsibilities of the accountants include

  • Prepare profit and loss statements
  • Compile financial information and prepare entries to accounts
  • Explain billing and invoices process to staff
  • Prepare and review expenditure, budget, payroll entries, etc.
  • Resolve accounting discrepancies.
  • Establish a method to control and coordinate accounting procedures.

Thus accountants play a crucial role in handling finance.