An accountant is an individual whose profession is to ensure that companies maintain good records and pay taxes in an appropriate and timely manner. Accountants typically perform important functions for businesses or individuals.
They offer a wide range of accounting services such as government internal audit and accounting, as well as ensuring proper bookkeeping practices are observed. This, in turn, reduces financial mismanagement and embezzlement of the organization resources.
There are four main categories of accountants.
A management accountant analyzes the financial information of the companies in which they work. An accountant’s profession duties of these type of accountants may include a preparing detailed list of responsibilities, such as budgeting, production evaluation, expense management, and asset management. Accountants at these level are usually at the top decision making panels since they are the ones determining how the organization is running. They are part of the strategic plans developers
Internal auditor’s accountants
These accountants verify the internal documentation of your organization. They ascertain that accurate accounting principles and policies have been adhered to and if there are any cases of funds embezzlement or mismanagement. This is becoming a more important accounting area because internal auditors validate and evaluate corporate financial information Note that the internal controls ensure that records are accurate and appropriate for protection.
These accountants cover the implementation of a wide range of accounting services such as internal organization auditing, government tax compliance such as how much tax the organization will evade without tax avoidance and advisory activities for its clients, such as private organizations government or non-governmental organizations. The accountants may also highlight to the organizations some of the advantages of paying taxes, employee compensations schemes among other services.
These accountants are employed by the government to foresee the accounting policies in the various public sector. They maintain and validate records of public institutions and control private companies and individuals whose activities are controlled by the state or are under the taxable bracket.