Their role is to design the accounting system, categorize and enter transactions, produce financial reports, prepare taxes, find ways to cut costs and improve efficiency, and explain the financial reports.
When you employ someone outside your firm as your accountant, their role is to advise you on compliance with the law. However, you may wish to have someone with accounting credentials in various roles in your firm: controller; book keeper; business development or CFO. These roles move businesses forward.
The role of an accountant is to account for all the transactions taking place in an organization. An accountant balances all the equations and makes sure that all the money put up in a business is accounted for. He or she presents the budget of the year to the company at the beginning of the year.
The major duties of an accountant are to accurately maintain the books of accounts, record cash flow statements, prepare balance sheets, perform audits, budget analysis, investment planning and analysis.
They should be able to give some limited financial advice. They should also be able to complete fairly complex tax returns that are submitted to the IRS and state or local entities.
