An accountant carries out a variety of tasks and services which vary according to the requirements of the industry and employment duties. Most accountants are employed in industry while a smaller percentage are engaged in public practice.
Accountants in public practice provide services as follows:
- Preparation of financial statements
- Audits
- Preparation of tax returns, both personal and corporate
- Tax planning
- Assistance in setting up accounting software systems
- Bookkeeping services
- Business plans
- Financing proposals
Accountants in industry perform the following duties:
- Look after payroll systems
- Work with public accountants with internal and external audits
- Explain billing invoices and accounting policies to staff, vendors, and clients
- Prepare and review budgets, revenue, expenses, payroll entries, invoices, and other accounting documents
- Create budgets on behalf of management, analyze and review budgets and expenditures for local, provincial/state, federal and private funding, review contracts, and grants
- Prepare profit and loss statements and monthly closing and cost accounting reports
- Analyze revenue and expenditure trends and recommend appropriate budget levels, and ensure expenditure control
- Compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions
- Supervise the input and handling of financial data and reports for the company’s automated financial systems
- Resolve accounting discrepancies
- Establish, maintain, and coordinate the implementation of accounting and accounting control procedures
- Recommend, develop and maintain financial data bases, computer software systems, and manual filing systems
Moncton Accountant – John Whiteley CPA offer accounting services on non-review basis only; reviews and audits are not included in the professional services offered. However, we can discuss the reasons for any third party requirement for an audit and/or review of your financial statements.