What an Accountant Does

What an Accountant Does

“An Accountant counts money!” says Mr. Joe Average; and he’s not wrong. But accountants do a lot more than just “crunch numbers”. Accountants deal with a wide range of finance-related chores that involve figures and statistics. Math is the core accountant’s job.

Lots of people who have money don’t really know what to do with it other than spend it. But spending money is easy; saving money, using it wisely and letting it grow is a different issue.

The primary duty of a professional Accountant is to ensure their client’s personal or organizational finances are accurate.  An accountant’s specialization and specific job requirement determines what an accountant does. And Accountants perform a common core of duties.

Bookkeeping refers to the main responsibility of an accountant for a company’s or a person’s financial records.  It’s the basic duty of every accountant. it involves handling accounts payable, accounts receivable, payrolls, maintaining balance sheets, and  any tasks s relating to credits and debits.

Tax Preparation is a major duty of an accountant.  Determining how much a person or company owes in taxes and preparing the actual tax returns is a major task, Accountants develop strategies for their clients to legally reduce their taxes compliant with the law or individuals, businesses, and governmental organizations.

Auditing. Businesses hire auditors not only check for fraud and the intentional misuse of company funds, but also devise methods to reduce unintentional waste of resources.

Fund Administration. Accountants must have basic organizational and administrative duties: collecting and maintaining paper documents and digital records and databases, creating and filing reports and financial spreadsheets.

It’s tough job, but somebody has to do it. That person is your Accountant.

By |2018-03-15T15:05:44+00:00January 27th, 2017|Blog, Corporate Taxes, Personal Taxes|0 Comments

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