Money is at the centre of any business organisation. It is the one goal that drives employers and employees to work hard in equal measure. Although a company may operate to fulfil a need in a particular market, it is more likely they would not do it at all if it didn’t bring them returns. By the same token, consumers know that they must pay some amount to get a product or service. To take care of the money issues are accountants.
This profession has been there for some time and it has seen many changes since then. Considered one of the highest skill and technical professions, its graduates are working in diverse fields all over the world. This article looks at what their tasks are in modern day business world.
Their premier role is to design systems of records. What this entails is setting up a system that the company uses to record their usage of money; the amount which goes into expenses, paying employees’ salaries, taxes and the amount which comes back as profits. It is a tricky and involving affair because each organisation has unique needs and thus a unique system must be set up. An accountant also does the job of maintaining those records.
Another of their important roles is to design the auditing books. These are the books where records of past transactions are documented for future references. It is also these records that help government officials or the mother companies to verify that what the organization has been doing is legitimate business and no money has been lost through underhand dealings.
The busy professionals also do the preparation of financial statements. These are the half-year, annual or biannual statements that indicate what profits or losses a particular company has made over the stated period. These are mostly broken down into many levels; like the expenditures the firm spent and the tax amount remitted to the government. In addition to that, a comparison in figures is made for the same period two or so years ago. The intention is to give the shareholders a view of how their company is performing.
Some of the accountants prefer to have private practice instead of being employed by a firm. But they all do the same thing only that the method varies. They do not necessarily work for big companies alone but deal with single clients as well. They can assist you plan your finances either on a personal level or for your small firm. They are there to tell the management what has changed in the taxation laws in a given country and what that may mean to their bottom line. That is why most organisations, if not all, involve their accounting staff when making major decisions. These are decisions like recruitment and salary raises for the employees.
SA and Birk is one of these professionals. Ideally equipped to become a group of tax accountants Gold Coast prides in, SA and Birk provides services such as tax advice as well as business coaching in addition to bookkeeping.
Email: Todd@australianwebsitedevelopment.com.au
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