The term accountant refers to a professional who performs accounting functions such as account analysis, auditing, or financial statement analysis. Accountants work with accounting firms or internal account departments with large companies. They may also set up their own, individual practices. After meeting state-specific educational and testing requirements, these professionals are certified by national professional associations.
KEY TAKEAWAYS
- An accountant is a professional who performs accounting functions such as account analysis, auditing, or financial statement analysis.
- Accountants can find employment with an accounting firm or a large company with an internal accounting department, or they can set up an individual practice.
- Many accountants choose to become Certified Public Accountants because the CPA designation is considered the gold standard in the accounting profession.
Accountant Duties:
- Prepare and review financial reports of the operation
- Identify and resolve discrepancies in the balance sheet and other financial statements
- Keep detailed records of financial transactions, analyze trends, and identify risks
- Identify opportunities to reduce costs and increase revenues
- Promote and participate in legal and regulatory requirements, and comply with company policies
- Provide administrative support, including handling correspondence and scheduling meetings
- Proactively identify, mitigate, and track recurring accounting issues
- Manage accounts payable, accounts receivable, and other financial records
- Monitor cash flow
- Perform other related administrative duties as assigned
Accountant Responsibilities:
- Conduct financial audits and analysis including accounts payable, accounts receivable, general ledger, and bank reconciliations
- Prepare and process payroll, taxes, and state and federal reports
- Experience with QuickBooks required
- Conduct and analyze monthly general ledger and account reconciliations
- Conduct trial balance and final trial balance reviews
- Perform accounting research, including ad-hoc financial analyses
- Assist in managing cash flow through collection procedures and bad debt
- Record and manage cash transactions, including deposits and withdrawals
- Maintain petty cash and bank reconciliations
- Monitor expenditures for accuracy and reporting
- Manage budgets, cash flows, cash shortages, and expenditures
- Track and document financial transactions
- Maintain records and reports for management
