Accountant responsibilities include maintaining and analyzing financial records, preparing financial statements, managing accounts payable and receivable, and ensuring tax compliance. They also handle audits, payroll, and budgeting, while providing financial analysis and strategic recommendations to management.

Core financial duties

Financial record-keeping: Maintaining accurate records of income, expenses, assets, and liabilities.

Financial reporting: Preparing and presenting financial statements like balance sheets, income statements, and cash flow statements.

Reconciliation: Reconciling bank statements and other accounts to ensure accuracy.

Auditing: Conducting internal audits to verify financial accuracy and compliance.

Payroll: Managing payroll, including calculating wages, deductions, and taxes.

Analysis and strategy

Budgeting and forecasting: Developing and monitoring budgets, and preparing financial forecasts to support strategic planning.

Financial analysis: Analyzing financial data to identify risks, opportunities, and areas for cost reduction or profit improvement.

Strategic recommendations: Providing financial advice and recommendations to management to support decision-making.

Compliance and risk management

Taxation: Preparing and filing tax returns and ensuring compliance with local, state, and federal regulations.

Compliance: Ensuring all financial activities comply with Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).

Risk assessment: Identifying financial risks and developing strategies to mitigate them.