What do Accountants Do?
Do you know the role of an Accountant in your organization?
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Surprise!!!!
We don't just pay salaries; Payroll is just a small part of what we do.
We also do not just issue petty cash and your travel imprest
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An accountant does a list of activities including
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??????? i.????????? Financial Accounting
????? ii.????????? Management Accounting
???? iii.????????? Cost Accounting
???? iv.????????? Financial Analysis
????? v.????????? Taxation Planning and Compliance
???? vi.????????? Budgeting and Forecasting
?? vii.????????? Payroll Processing
? viii.????????? Cashflow Management
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Now regardless the functions an account should be exposed in the following areas
??????? i.????????? Billing and receivables (invoicing & Debts collection)
????? ii.????????? Payment processing and payables control
???? iii.????????? Reconciliations (Bank, receivables, payables, fixed assets etc)
???? iv.????????? Cashflow management
????? v.????????? Management reports
???? vi.????????? GL reconciliation
?? vii.????????? Bank reconciliation
? viii.????????? External audit support
???? ix.????????? Taxation and handling of tax audits
????? x.????????? Costing (Product costing & Service costing)
???? xi.????????? Project management
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Accountant, Data Scientist, CPA Candidate
8 个月In various industries and sectors, accounting roles are strategically organized into specialized sections to enhance operational effectiveness and efficiency. These sections typically include Accounts Payable, Accounts Receivable, Payroll Processing, and more. Each section plays a vital role in ensuring accurate financial management and adherence to industry-specific regulations.