An accountant is a practitioner of accountancy, whose main role is to keep, audit, and inspect the financial records of individuals or business concerns and to prepare financial and tax reports. Accountancy is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and other decision makers make resource allocation decisions. A proper accounting system is essential to any business in order to manage its daily functions and keep things running smoothly. The main tasks of an accountant include:
This is maintaining the financial records of all types of business organisations. Accountants are also responsible for generating standard financial reports and documents. They provide assistance in the filing of bank accounts of the business, formulating a system for payments to clients and salaries of employees.
Business Tax Planning
An accountant should also provide the business with a comprehensive tax planning guidance in order to maximise business tax exemptions. It is important to comply with government rules and regulations when setting up your own business, and hiring an accountant will be able to make this process a smooth one, enabling you to avoid wasting too much of your time and money with unnecessary complicated requirements and paperwork.
General Financial Consultancy Service
An accountant can also offer expert advice on effective management of company cash flow, price control, relevant financial options and management of inventory.
An accountant should be able to give useful and practical advice on the adoption of relevant software applications and business solutions that are appropriate for your type and size of business. This means that your company can keep up to date with the demands and challenges of the business, and be competitive with the more dominant players in the business. The accountant you hire must have the working knowledge and understanding of various accounting and financial software applications and business solutions, most suitable to your business.
A good accountant must have strong links with major sectors in the business community. All these critical functions of the accountant imply that one must be able to perform such functions to be able to make a positive difference in the overall performance of your business organization.
Francis Clark also offers a broad range of accountant’s services which includes wealth management, corporate advice, personal taxation, company auditing in addition to accountant services.