Financial record keepingAccountants ensure that financial records are accurate and up to date. They may reconcile bank statements and perform audits.Financial reportingAccountants prepare financial statements, budgets, and other reports that show a company's profits, equity, and cash flow.Tax preparationAccountants prepare tax returns and provide tax planning services.Financial analysisAccountants analyze business plans and financial data to identify potential risks and opportunities.Financial decision makingAccountants help businesses make financial decisions by providing financial insights to leadership teams and other stakeholders.Cost analysisAccountants may examine production costs to determine the most efficient methods of production.Accountants can specialize in different areas of practice, such as management accounting, internal audit, forensic accounting, and taxation.