Accounting

• report and analyse the results of the business operation
• Responsibilities
• -preparation of financial statements
• -raising finance for the business
• -managing the cash flow
• -preparing tax returns

• concerned with day-to-day operations of the business
• Responsibilities
• -ensuring that the resources of the business are allocated efficiently
• -prepare reports for use within the firm
• -prepare budgets
• -analyse the result of budgets

• concerned with checking the acounting records of a business organisation. Incorparated societies and companies must have there accounts audited.
• Responsibilities
• -that the financial statements present a true and fair view of the state of affairs (that they are acurate!)

• specialised in taxation (they are usually members of chartered accounting firms specialising in this area)
• Responsibilities
• -advise the clients on applicable laws that are existing e.g. GST
• -advise on the most advantageous way of operation in order to minimise their tax liability.

• determine the cost of production and how they can be reduced
• Responsibilites
• -calculate the cost of producing a good or service
• -controls the businesses costs.

support the accountant by entering data in the computer E.g. enters transactions into the general ledger and apprporiate journals