Accountant Job Description: Tasks Performed by an Accountant
Accountants are experts who specialize in accounting, auditing and taxation services and jobs related to these fields.
Key Responsibilities of an Accountant are as Given Below:
- Preparation and analysis of financial reports which include income and loss statements, tax return issues and balance sheets.
- Offering services to the public in need of financial advice and expertise.
- Acting as management and corporate caretaker.
- Taking care of matters related to money and small business matters.
Accountants Perform a Wide Range of Tasks Like:
Tax advice and Assistance: In order to complete your tax returns, accountants provide finance and tax advice. Accountants give expert advice to individuals and business people related to their tax and financial position. Since they are experts in issues of tax allowances and capital gains they will help in these matters and help you reap profit out of it.
Preparing Accounts: An accountant is known for his expertise in preparation of balance sheets, pay slips, company expenditure on resources in a format acceptable to the company.
HM Revenue and Customs Investigations: accountant job description also includes handling of HM Revenue and Customs Investigations
Wealth Management: Accountants job description includes work related to wealth management, financial advice, tax audits and property investment
Funding of businesses: Funding for short term or long term business projects can be done by accountants, who can provide financial advice along with additional services for businesses. Management buy out can be done with the help of an accountant in the most tax efficient way.
An Accountant Has Expertise in the Following Domains:
- Establishment and coordination of accounting control procedures.
- Tax mitigation for business investments.
- Cash flow management and the financial management using forecasts and business plans.
- Analyze the revenue and expenditure trends in details to recommend appropriate budget levels and control expenditure.
- Auditing, bookkeeping, budget making and its control.
- An accountant keeps check on the profit and loss made by the firm, cash flow estimates, capital budget and profit ratio indicators.
Various accountants like public accountant, management accountant, government accountant and internal auditors perform accounting functions for government, public sector, corporate and government policies respectively.