What are the obligations of the accountant?

Accountants are responsible for a number of tasks that include financial data analysis, financial statements and reports, maintaining various accounting books and records, reviewing vouchers for the expense and determination of wage requirements. Accountants may also be responsible for audit of financial records, advice to individuals or businesses for preparing taxes and fulfilling obligations as a fund manager. Depending on the position level, the accounting may also be responsible for management and complex assignment. According to current laws and regulations, they must prepare monthly, quarterly and annual financial statements. In addition, accountants must maintain and maintain books, accounts, magazines. They will be obliged to submit the financial statements to higher management, investors, auditors and stakeholders. If the accountant is involved in tax -related activities, then he must also prepare and submit taxes in accordance with local and federal governments.

Auditors may require internal accountants to work with them to verify that checks, policies and procedureY companies are in line with the law and standard accounting principles. This involves ensuring that the controls are introduced around the report process to remove or reduce errors and fraud. Detailed procedures should be introduced for accountants, from how they should perform their tasks after their decision -making skills. Checks and balances should also be introduced to quickly find errors and the chances of fraudulent activities are reduced.

Financial statement analysis is sometimes required for accountants, especially if there is no financial department in the organization. This includes the use of ratios and formulas to understand and determine the thzdrava organization, its weaknesses and its possible areas of improvement. For example, the accountant can find that the stock turnover ratio is too low, which could mean that it has too long supplies. The company could then order less at once to reduce the cost of stock and have at handMore money to take advantage of other opportunities.

vouchers for expenses, invoices and other fiscal documents must go through accountants to be reviewed, included in their records and paid. Accountants or higher -level managers usually have the authorization to approve and pay expenditure vouchers and invoices without prior consent. It must also provide cost reports and maintain an accurate record of everything that passes through their departments. It is common for offices to require accountants to hold digital records instead of paper or as a deposit if something should happen.