What are accountants?


October 23, 2014 - By Maribel Ramirez

What are accountants?

An accountant is a professional person who performs accounting functions such as audits or financial statement analysis. According to BLS, They ensure that financial records are accurate and that taxes are paid properly and on time. Employment growth of accountants and auditors is expected to be closely tied to the health of the overall economy. As the economy grows, these workers will continue to be needed to prepare and examine financial records.

Accountants and auditors typically do the following:

·      Examine financial statements to ensure that they are accurate and comply with laws and regulations

·      Compute taxes owed, prepare tax returns, and ensure that taxes are paid properly and on time

·      Inspect account books and accounting systems for efficiency and use of accepted accounting procedures

·      Organize and maintain financial records

·      Assess financial operations and make best-practices recommendations to management

·      Suggest ways to reduce costs, enhance revenues, and improve profits

The following are examples of types of accountants and auditors:

Public accountants perform a broad range of accounting, auditing, tax, and consulting tasks. Their clients include corporations, governments, and individuals.

Management accountants, also called cost, managerial, industrial, corporate, or private accountants, record and analyze the financial information of the organizations for which they work. The information that management accountants prepare is intended for internal use by business managers, not by the general public.

Government accountants maintain and examine the records of government agencies and audit private businesses and individuals whose activities are subject to government regulations or taxation. Accountants employed by federal, state, and local governments ensure that revenues are received and spent in accordance with laws and regulations.

Internal auditors check for mismanagement of an organization’s funds. They identify ways to improve the processes for finding and eliminating waste and fraud. The practice of internal auditing is not regulated, but The Institute of Internal Auditors (IIA) provides generally accepted standards.

Information technology auditors are internal auditors who review controls for their organization’s computer systems, to ensure that the financial data comes from a reliable source.

 

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