| An accountant is a person who manages
| |
| | records of individuals or businesses,
|
| financial issues, including the
| |
| | along with preparing financial and tax
|
| preparation of financial plans and
| |
| | reports.
|
| budgets, as well as the management of
| |
| | In the United States, accountants can
|
| accounts and staff welfare.
| |
| | obtain specialized certificates in varied
|
| In most countries, officially licensed
| |
| | fields where they can hold titles like
|
| accountants are recognized by titles. In
| |
| | "certified public accountant," "certified
|
| the UK, they are termed as "chartered
| |
| | internal auditor," "certified management
|
| accountants." In the U.S., accountants
| |
| | accountant," and "accredited business
|
| are commonly known as "certified public
| |
| | accountants." In the U.S., the
|
| accountants," whereas in Canada, they are
| |
| | governmental accounting standard board
|
| either known as "certified management
| |
| | prepares accounting rules for making
|
| accountants" or "certified general
| |
| | financial statements for publicly traded
|
| accountants." Although most of the
| |
| | companies and private companies. Further,
|
| accountants in Canada also function as
| |
| | some of the accounting organizations that
|
| chartered accountants, certified general
| |
| | influence developing standard rules for
|
| accountants are also authorized to
| |
| | accountants in the U.S. are the U.S.
|
| practice public accounting and auditing
| |
| | Securities and Exchange Commission (SEC),
|
| in the country.
| |
| | the American Institute of Certified
|
| The main responsibilities of accountants
| |
| | Public Accountants (AICPA), the Financial
|
| are to create financial reports and to
| |
| | Accounting Standards Board (FASB), and
|
| undertake day-to-day bookkeeping for
| |
| | the Governmental Accounting Standards
|
| managers, regulators, and shareholders.
| |
| | Board (GASB).
|
| Accountants manage a double-entry
| |
| | Some major firms recognized globally are
|
| bookkeeping system wherein there are two
| |
| | PricewaterhouseCoopers, Deloitte Touche
|
| entries for every transaction are made,
| |
| | Tohmatsu, Ernst & Young, and KPMG.
|
| one to a debit account and one to a
| |
| | Most accountants perform different kinds
|
| corresponding credit account. As per
| |
| | of accounting like cost accounting,
|
| accounting rules, the sum of the debit
| |
| | financial accountancy, and management
|
| and credit figures should be equal and
| |
| | accountancy. Accountants are skilled
|
| any discrepancy in the total means that
| |
| | professionals and are an integral part of
|
| there has been an error. An accountant
| |
| | the modern economy.
|
| also audits and inspects the financial
| |
| |
|
