Accountancy might seem like a straightforward job – merely ‘crunching the numbers’, while it is true that working with financial information is a big part of the job, accounting is also a critical part of any business.
Accountants conwy are really important for all businesses both great and small, as such they play a pivotal role in all aspects of our professional lives.
What does an accountant do on a daily basis you ask? Where we will discuss the roles and responsibilities and important skills and career outlook for accountants. We will also go through the current trends that are having an effect on the field.
What is an accountant?
An accountant is a professional who is responsible for keeping as well as interpreting financial records. The majority of accountants are responsible for a large variety of finance related tasks. This is true for individual clients or larger businesses and organisations that employ them. Other terms are used in conjunction with this, including accountant, bookkeeper and others. However, there are many differences between these.
Bookkeepers will have an associate degree and focus on recording financial transactions. Accountants on the other hand will have earned a bachelor’s degree in accounting, these are tasked with interpreting financial information rather than gathering it together.
Accountants can be bookkeepers, but not all bookkeepers can be accountants.
The roles and responsibilities of accountants vary depending on your position. Some of the most common tasks and responsibilities of accountants includes the likes of the following.
- Ensuring the accuracy of financial documents and that they comply with laws and rules of the time.
- Preparing and maintaining important financial reports
- Preparing tax returns, and ensuring that taxes are paid not only properly, but also on time.
- Evaluating financial operations to recommend the best practices.
- Identify issues and come up with practical solutions.
- Help organisations run efficiently.
- Offer guidance on cost reduction, revenue enhancement, profit maximisation and more.
Conduct forecasting and risk analysis.
Accountants also have a legal obligation to act honestly and not be negligent in their practice. They are also responsible for ensuring that clients’ financial records comply with laws and regulations.
There are a few important skills that all accountants need in order to be successful in their roles. Some of the most important skills needed includes:
- Attention to detail
- Analytical skills
- Business know-how
- IT skills
- Mathematical aptitude
Accountancy is in demand and boasts impressive salaries as well as great job growth to match. As such, accountancy is a fantastic career with scope to operate in a wide variety of settings as well as earn a great salary. It also serves an important purpose to businesses the world over.
If you are looking for an accountant, we recommend that you look at testimonials online, on a good business directory or ask people around you who a reliable and decent accountant would be to have on-side.