Basic accounting refers to the process of recording a company’s financial transactions. It involves analyzing, summarizing and reporting these transactions to regulators, oversight agencies and tax collection entities. Basic accounting is one of the key functions in almost all types of business.

What does an accountant do?

• Examine statements to ensure accuracy.
• Ensure that statements and records comply with laws and regulations.
• Compute taxes owed, prepare tax returns, ensure prompt payment.
• Inspect account books and accounting systems to keep up to date.
• Organize and maintain financial records.

Career streams available to fully qualified accountants include auditing, business services, corporate, cost, financial, financial control, forensic, funds, insolvency, management and tax.

Roles and Responsibilities Ensuring the accuracy of financial documents, as well as their compliance with relevant laws and regulations. Preparing and maintaining important financial reports. Preparing tax returns and ensuring that taxes are paid properly and on time.

Accountants use math in order to interpret facts and figures. This requires some basic and intermediate knowledge of mathematical concepts and theories. The accountant should also be familiar with the formulas used in order to calculate figures. Accountants may create charts or graphs as a part of their interpretation.

While a master’s degree or its equivalent is required for the more lucrative accounting careers, graduates of accounting degrees typically go on to work in entry-level positions as accountants or pursue professional accountant status.

Steps Obtain a bachelor’s degree in accounting. You may also choose to pursue finance if you have a desire to work as a certified management accountant. Complete accounting internships while in school. Work experience in a firm will give you the opportunity to ensure that you want to pursue an accounting career. Decide which career path to follow.

The duties of an accountant include many bookkeeping tasks, such as making journal entries and posting accounts payable, receivables, and payroll taxes. Accountants handle most of the day-to-day financial tasks of a company, firm, or corporation.

So, it makes the most sense to hire an accountant only for complex or high-value projects, such the quarterly financial reports (especially if you are required to give these to a bank or under a government contract), tax filings, ongoing or case-specific advisory services, or the financial section of your business plan.

Job Duties and Tasks for: “Accountant”. 1) Prepare, examine, and analyze accounting records, financial statements, and other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards. 2) Compute taxes owed and prepare tax returns, ensuring compliance with payment,…