key responsibilities
the primary duties of an accountant revolve around financial record-keeping, reporting, and compliance.
financial record management and reporting
maintain financial records: manage all accounting transactions, including recording day-to-day transactions in the general ledger (journal entries, adjusting entries).
reconciliations: perform timely reconciliation of bank statements, credit card statements, and accounts payable/receivable to ensure all entries are accurate and discrepancies are resolved.
prepare financial statements: produce accurate and timely periodic financial statements, including balance sheets, income statements, and cash flow statements, in compliance with gaap (generally accepted accounting principles) or ifrs (international financial reporting standards).
month/year-end close: coordinate and execute the monthly, quarterly, and annual closing processes.
compliance and auditing
tax preparation: compute taxes owed, prepare tax returns, and ensure timely filing and payment, maintaining compliance with federal, state, and local tax laws.
internal controls: develop and document business processes and accounting policies to maintain and strengthen internal controls and safeguard assets.
audit support: assist with internal and external audits by providing necessary documentation and explanations.
analysis and strategy
financial analysis: analyze financial information, summarize financial status, and interpret data to identify trends, costs, variances, and financial risks.
budgeting and forecasting: prepare, analyze, and monitor budgets and financial forecasts to help management make informed business decisions.
advisory role: provide strategic recommendations to management on how to reduce costs, enhance revenue, and improve overall profitability.