Assignment for you

What does an Accountant do?

Accountants use numbers and financial statements to paint a picture of the health of a company, organization, or individual. By using their skills in math, accounting, law, and finance, they analyze profits and losses. They provide information that investors and business owners need in order to see how a company is doing over a period of time. This information forms the basis of a company's report and legal filing reports.

Here are some of the duties that an accountant may have:

• Determines payroll requirements; maintains payroll data; prepares and processes monthly payrolls
• Interacts with internal and external auditors in completing audits
• Explains billing invoices and accounting policies to staff, vendors, and clients
• Prepares and reviews budgets, revenue, expenses, payroll entries, invoices, and other accounting documents
• Analyzes and reviews budgets and expenditures for local, state, federal, and private funding, reviews contracts and grants
• Prepares profit and loss statements and monthly closing and cost accounting reports
• 
• Analyzes revenue and expenditure trends and recommends appropriate budget levels, and ensures expenditure control
• Compiles and analyzes financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions
• Supervises the input and handling of financial data and reports for the company's automated financial systems
• Resolves accounting discrepancies
• Establishes, maintains, and coordinates the implementation of accounting and accounting control procedures
• Recommends, develops and maintains financial data bases, computer software systems, and manual filing systems

Types of Accounting:

Public Accounting -
This would be an accounting service to the general public, and is thought to be more professional than private accounting. Certified and non-certified public accountants can provide public accounting services.

Private Accounting -
This would be accounting that is limited to only a single firm, where an accountant receives a salary on an employer-employee basis. This term is used even if the employer is in a public corporation.

National Income Accounting -
Rather than the usual business concept, national income accounting uses an economic or social concept. This type of accounting provides estimates of a country's annual purchasing power.

Fiduciary Accounting -
This type of accounting is done by a trustee, executor, or administrator. The job is to keep the records and prepare the reports, which may be authorized by or under the jurisdiction of a court of law.

Fund or Governmental Accounting -
This type of accountant works for non-profit organizations or branches of government. The double-entry system of accounting is used, the same as conventional accounting. Special funds accounting is also used.

Forensic Accounting -
Forensic accounting looks at issues that result from actual or anticipated disputes or litigation. Forensic accountants often have to give expert evidence at a trial. All of the