report and analyse the results of the business operation
-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
-ensuring that the resources of the business are allocated efficiently
-prepare reports for use within the firm
-analyse the result of budgets
concerned with checking the acounting records of a business organisation. Incorparated societies and companies must have there accounts audited.
-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)
-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
-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
Specialized Areas of Accounting