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Accountants keep track of the money in a company and make sure that there is money to pay salary and to keep the company in operation. They do the books for each department and make sure that every dollar is accounted for that was invested into the company. In short we can say that the duty of an accountant is to make sure that the company has a sufficient amount of working capital (the amount required to meet its daily operations) for its smooth running and to keep the transactions into record.

Specific duties of an accountant are:

  1. Prepare profit and loss statements and monthly closing and cost accounting reports.
  2. Compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions.
  3. Establish, maintain, and coordinate the implementation of accounting and accounting control procedures.
  4. Analyze and review budgets and expenditures for local, state, federal, and private funding, contracts, and grants.
  5. Monitor and review accounting and related system reports for accuracy and completeness.
  6. Prepare and review budget, revenue, expense, payroll entries, invoices, and other accounting documents.
  7. Analyze revenue and expenditure trends and recommend appropriate budget levels, and ensure expenditure control.
  8. Explain billing invoices and accounting policies to staff, vendors and clients.
  9. Resolve accounting discrepancies.
  10. Recommend, develop and maintain financial data bases, computer software systems and manual filing systems.
  11. Supervise the input and handling of financial data and reports for the company's automated financial systems.
  12. Interact with internal and external auditors in completing audits.
  13. Prepare the financial statement of a business, they also determine if the company is making profit or not.
  14. Other duties as assigned
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Q: What are the duties and responsibilities of an accountant?
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