Key Responsibilities and Duties
The duties of an Accountant are comprehensive and fall into several key areas:
1. Financial Reporting & Analysis
Prepare Financial Statements: Compile and analyze account information to prepare accurate Balance Sheets, Profit & Loss Statements, and Cash Flow Statements on a monthly, quarterly, and annual basis.
Month/Year-End Close: Lead and execute the procedures for the monthly, quarterly, and annual accounting closing processes.
Reporting: Produce error-free financial reports and present the results and financial status (liquidity, growth) to management.
Budgeting & Forecasting: Assist in the financial planning and goal-setting process by preparing budgets and financial forecasts.
2. Transaction Management & Compliance
Record Keeping: Document financial transactions by accurately entering account information into the general ledger.
Reconciliation: Reconcile accounts payable (A/P), accounts receivable (A/R), bank statements, and general ledger accounts to resolve any discrepancies.
Audits & Controls: Substantiate financial transactions by auditing documents and assisting with internal and external audits. Develop and document business processes and accounting policies to maintain strong internal controls.
Tax Compliance: Compute taxes owed, prepare and file tax returns, and ensure all financial policies and regulations are strictly followed.
3. Strategic & Advisory
Cost Analysis: Analyze financial information, identify potential risks or challenges, and recommend financial actions or cost-saving strategies to management.
System Improvement: Review and recommend modifications to accounting systems and procedures to enhance efficiency.
Guidance: Provide technical support and financial advice to management and other departments.