The Role Of An Accountant

Accountants tend to work in one or more of four main sectors within their industry Audit

, Financial Accounting, Management Accounting and Tax.

Within an audit environment, accountants, (or auditors as they are more commonly known in this role,) will investigate and evaluate a business procedures and financial statements to help compile and produce a report. During these investigations an auditor will help to ensure that the business accounts, statements and methods comply with national and global accountancy legislation. An external auditor will compile their report independently of the company they are auditing, with this report being delivered back to the auditors organisation as well as the company itself. Internal auditors investigate and evaluate the internal controls and procedures that their own business has in place, and will report these findings back to the business Board of Directors.

A Financial Accountant based within a business creates reports based on criteria laid out by the Government. In the UK this means that they record, classify and interpret all financial information within their business compiling reports both for the Board of Directors and Government organisations. They often also advise senior managers on the current financial situation within the business by monitoring the cash flow in and out of the company, preparing quarterly and annual financial statements and overseeing the company payroll.

Management Accountants analyse financial information both within a company and in the business world in general in order to forecast what may happen in future and how best to plan for it. They review the general performance of their business and compare this to the rest of the business world, and present this information as a report to senior management. This information is usually kept confidential within a company, as it may help them get the edge over their competition.

A Tax Accountant has the responsibility for preparing tax statements both for individuals and businesses. The position requires a very good understanding of tax laws and of economics on the whole, as there can be a lot of complicated juggling of facts and figures involved. Tax accountants have a huge responsibility, as they need to make sure that the individuals and companies that they work for are obeying tax laws and regulations.

by: cardiffjobs

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