Role of an accountant
An accountant designs the accounting procedures for an enterprise. He plays several roles in an organisation as follows:
The accountant maintains a systematic record of financial transactions. He also prepares the financial statements and other financial reports.
The accountant assists the management by providing financial information required for decision making and for exercising control.
The accountant maintains records of assets owned by the business which enables the management to protect and exercise control over these assets. He advises the management about insurance of various assets and the maintenance of the same.
The accountant analyses financial information and advises the business managers regarding investment opportunities, strategies for cost savings, capital budgeting, provision for future growth and development, expansion of enterprise, etc.
The accountant ensures that tax returns are prepared and filed correctly on time and payment of tax is made on time. The accountant can advise the managers regarding tax management, reducing tax burden, availing tax exemptions, etc.
The accountant provides accounting information to various interested users for analysis as per their requirements.