Key responsibilities of an accountant include maintaining accurate financial records, preparing financial statements and tax returns, managing budgets and forecasts, performing audits, and ensuring compliance with laws and regulations. Accountants also analyze financial data to provide insights and recommendations to management to support decision-making and improve profitability.
Core duties
Record keeping:
Maintain accurate and organized financial records of all transactions, including income, expenses, and assets.
Financial statement preparation:
Create key financial documents like balance sheets, income statements, and cash flow statements to show the company's financial performance and position.
Budgeting and forecasting:
Develop and monitor budgets, and provide financial forecasts to help guide spending and resource allocation.
Tax preparation:
Ensure all tax obligations are met by preparing and submitting tax returns accurately and on time.
Auditing:
Conduct internal and external audits, prepare for audits, and liaise with auditors to ensure compliance and financial integrity.
Financial analysis and reporting:
Analyze financial data to identify trends, provide insights, and prepare reports for management and other stakeholders.
Compliance:
Ensure that all financial records and practices comply with government regulations, accounting principles, and laws.