The Responsibilities of the Accountants are Crucial for any Business Organization
The responsibilities of the accountants include a large number of activities that may be related to the internal and external heads of the organization. Though accountants are mainly responsible to deal with financial accounting and auditing works, but in the modern time their area of responsibility has been widening according to the need of business. They play a key role in the growth and expansion of the company.
Talking about the main responsibilities of the accountants that can be recognized as collection analysis and reporting of the financial information about different decision centers in the organization. Their purview of works include costs, revenue, or profits to the individual managers who are primarily involved in the decision making process. Basically the purpose behind deciding accountant’s responsibility is to weigh the performance of each manager and to see how efficiently he or she is handling the given assignment.
Generally, these accountants prepare the statements of profit and loss on the monthly basis. They have to compile and analyze financial information to prepare entries to accountants; such works include the maintenance of ledger accountants, documentation of business transitions. They have to analyze and review the accounting related reports to examine the accuracy and completeness. Accountants work to establish, uphold and coordinate under the accounting control procedures. It is their responsibility to take a review of budgets and expenditure required for local, federal, state, private funding controls and other related grants. They come forward to review the revenue and expenditure trends for the recommendation of appropriate trends and level of control over expenditure. They also recommend for the developing and maintaining the financial data base by using advanced computer software systems along with manual filing system.
Organizations also expect from the accountants that they will help to solve any discrepancies pertaining in the system. The explanation billing invoices and applicable accounting policies, to the staff, vendors, clients and other stakeholders, come from the extensive efforts of these accountants. They supervise the input heads, handle the financial data and the whole report of the financial system. In the modern time they have to interact with the external auditor and assign duties accordingly.
According to the responsibility of accountants, they can be categorized mainly as public accountants, management accountant, government accountant, and internal auditor accountants. At the time there are several online and offline sources where the services of the efficient accountants can be accessed easily.