What Is The Role Of An Accountant In An Organisation?


4 Answers

David Gill Profile
David Gill answered
In an organisation the accountant has a number of things to do. One of the major things they do is evaluate the records drawn up by the book keepers. This is done to see where the business is spending and saving, progressing or failing. They are financial transaction recorders of all areas of the business

Accountants must also decide on a prescribed system of accounts and choose which ones show and are most capable of arriving at a comprehensive view of how the company is doing. They must show a true evaluation of the business and how it is doing and where it is going. This is done through the writing up, study and keeping of a number of financial records including profit and loss accounts, receipts, fiscal measures and other devices.

Accountants also use cost accounting to show actual cost over periods of time of particular services or departments. This is done to look for improvements, profitable areas as well as for finding areas that are not efficient and are loss making.

Accountants are also reporters of fiscal reports. They analyse financial data and report back in understandable language the areas of good and bad financial performance and offer solutions to the business. Accountants can balance the cost of something against what it is worth and then advise the business to make changes or keep doing something.

Accountants are also business partners and understand the daily operation of a business. They observe and report on what is going on and going right or wrong in everyday business. They also look for cost effective strategies to save the business money as well as make decisions on labour, and current and capital expenditure.

Accountants are fundamental to the success of a business and offer a wide array of specialities that can really help an organisation develop.
MnJ Profile
MnJ answered
Accordingly, the accountant’s roles in the organization can be analyses below:
1. Preparation & presentations of timely accurate financial/accounting reports to management
2. Identification of areas of inefficiency & wastages of resources in industries
3. Treasury functions: Accountant also plays the role of treasury functions in such a way that they raise finance, cash management etc
4. Setting up effective system of internal & accounting controls
5. Preparation of feasibility reports: These reports assist management in assessing the viability/profitability or otherwise of proposed capital expenditure such as opening of a new factory or branch
6. Investigation of the performance/operations of competing business organizations to assist management in policy formulation
7. Investigation of frauds within the organization: Accountant plays the role of investigation of frauds within the organization
8. Accountant assists the organization to avoid-rather than evade tax by using his knowledge of the tax laws
Anonymous Profile
Anonymous answered
1. Financial management and Accounting Skill.
2. Budgeting and Financial forecasting skill.
3. Self starter who is organized, disciplined and goals orientated.
4. Full Knowledge of Accounting package software skill.
5. Good organization and Management skill.
6. Cash Disbursement and Records Keeping skill.
7. Good analytical and reasoning skill.
8. Good leadership and supervisory skill.
9. Preparation of Financial statement skill.
10. Honesty and intergrity.
Shumaila Sadia Profile
Shumaila Sadia answered
Accountants are the backbone of the finance department of any company and perform key responsibilities. An accountant maintains all the records of company's transactions, prepares balance sheets, income flow statements, cash flow statements, perform audits, cost management, budget analysis, financial and investment planning and analysis.

Answer Question