Every firm will have financial transactions that are to be maintained daily. So the accountants are very important in the financial world. They carry out the system of balances and checks which assure that the clients are not cheating the government. If you are seeking for the accountant job, you should have an idea of what is the job description of an accountant to be prepared according to that.
Responsibilities of an accountant
Primary and the general accountant duties include, managing the balance sheets, general entries preparation, petty and ledgers cash accounts on daily basis. The responsibilities of the accountant differ based on the client and the client’s financials. Besides these there are also some additional responsibilities which are included in the job description of the accountant role in many companies. They are:
- Annually preparing the statements of loss and profit or whenever they are required.
- Assessing the financial details and preparing the reports of financial transaction.
- Reviewing the company’s budgets assigned to various distinct tasks.
- Handling the daily accounts.
- Explaining customers, investors, staff members, business partners about the accounting and financial policies and billing invoices of the firm.
- Maintaining the daily transactions document on the computer and also in the format of hard copy.
- Completing the provided tasks within the financial deadlines.
- Dealing with the financial and accounting irregularities.
- Coordinating the financial regulations and rules implementation.
- Allotting the work to the junior accountants and handling the documentation of the data and finish the procedures of accounting.
- Preparing the reports of financial accounting and sending those reports to the regarding authorities.
Besides the above duties, preparing the reports of audit, aiding the CA with the reports of audit, salary recommendations, developing the budgets, and so on are also included in some job descriptions.
There are mainly 4 types of accountants. They are
They normally work for the public accounting firms. They help the public if they are having any problem regarding deductions, taxes, declarations, and audits.
For the government, they supervise the accounting records. They make sure that the records of the government are accurate and truthful.
They directly work for the firms. They make sure that the firm’s records are accurately and truthfully reported, which assure that the firm is not unnecessarily taking money from the customers, and the workers are not taking any funds inappropriately from the firm.
They supervise the pay outs and profits of the firm. This might be performed for the sake of tax or to assess what expenditures and investments are benefiting the firm.