An accountant manages an organization's financial records, ensuring accuracy and compliance with laws and regulations. Key duties include preparing financial statements, analyzing financial data, managing budgets and taxes, and providing financial advice to management to support business decisions. They are responsible for tasks like financial audits, account reconciliation, and maintaining the general ledger.
Core responsibilities
Financial record-keeping: Maintain and organize all financial records, including the general ledger, and perform regular account reconciliations.
Financial reporting: Prepare key financial statements like balance sheets, income statements, and cash flow statements. They also create reports, budgets, and forecasts.
Analysis and interpretation: Analyze financial data to identify trends, assess financial operations, identify risks, and provide insights to help management make informed decisions.
Compliance and auditing: Ensure all financial records comply with local and international laws and regulations, such as GAAP. They may also conduct audits and resolve discrepancies.
Taxation: Prepare and file tax returns for individuals or companies, and provide advice on strategies to minimize tax liabilities.
Essential skills and tasks
Data management: Accurately record transactions and manage accounts payable and receivable.
Software proficiency: Use accounting and financial software, along with expert-level knowledge of spreadsheets.
Problem-solving: Investigate and resolve financial discrepancies and irregularities.
Communication: Clearly explain financial findings through written reports and meetings with management and clients.
Financial strategy: Assist in developing long-term financial goals, create economic policies, and provide advice on financial strategy.