What is an Accountant?
Simple question, I know. Seriously though, what is an accountant and what do they do?
By definition, an accountant is a professional that analyzes and audit financial information. This still doesn’t answer the question given how vague the definition is. Let’s go a bit further. What types of accountants are there, do their tasks differ and what is needed to be an accountant?
Accountants work hand in hand with other financial professionals such as tax preparers and bookkeepers to deliver financial services to businesses year round.
Depending on the type of accountant, the tasks within the scope of that respective accountant’s responsibilities may change. Still, there are tasks that can be completed by all kinds of accountants.
Here are some kinds of accountants:
Forensic Accountant
Chartered Accountant, CA
Certified Public Accountant, CPA
Based on the accountant type, responsibilities can differ. This can include investigating financial crimes as a forensic accountant, handling international matters as a chartered accountant or working on individual tax needs as a public accountant. Generally, accountants regardless of speciality are able to prepare financial statements, perform audits of financial records and provide financial guidance. But what does it take to be an accountant? Generally:
For some accountant types, you need to sit for the CPA exam which, in most states, requires 150 credits from a university.
Even without the CPA exam, accountant’s without a license still need a bachelor’s degree
Some accountant positions require proof of prior working hours
It is important to hire the right professionals for your financial management needs without sparing the integrity of your financial information. For small and emerging businesses, it may be beneficial to hire a bookkeeper to manage daily financial management and have a CPA for tax time. Some businesses also prefer to have an in-house bookkeeper to assist with other tasks relating to financial management and to have a CPA on retainer for periodical review (monthly, quarterly or bi-annually). Regardless of your business size and industry type, it is crucial to keep your financial information up to date to remain compliant and in the know of your operation’s finances.
Mikaesbooks can be your bookkeeping provider that can collaborate with your financial team to ensure you are up to date! Schedule a free consultation today to learn more on how we can personalize your financial management services.
This blog is for educational purposes only. Mikaesbooks is not a tax advisor or legal professional. Seek an Enrolled Agent, EA or a Certified Public Accountant, CPA, or other tax professional for more information.
