The Role Of An Accountant

The Role of an Accountant
Michelle Mathews
Colorado Technical University

be for Non- news report Majors
ACC310-1201A-02
January 13, 2012
Melinda Swigart

The Role of an Accountant
In order to reckon the role of an accountant, unrivaled should first understand the basic definition of accounting. Simply put, accounting is defined as recording, reporting and analyzing the financial transactions of a business in a systematic way. ( explanation) The person in charge of putting together and analyzing these financial reports is the accountant. The accountant creates these financial reports using a set of rules and guidelines that ar called the Generally Accepted Accounting Principles (GAAP) and these guidelines are created and put in place by the Financial Accounting Standards Board (FASB).
The answer of Accounting
The purpose of accounting is two-fold. On one hand it is to provide management of a business the proper(postnominal) information needed to help run a more efficient enterprise. (What is the Purpose of Accounting?) Due to the fact that managerial Accounting is used mainly for internal purposes, it is not required to stick to the strict guidelines put in place by the GAAP. Managerial Accounting is used to help businesses with planning and haughty routine operations.



It is also used to help managers with their termination making in the day-to-day aspects such as ordering, determine and policies that will improve the net worth of the company.
Financial Accounting is responsible for the external reporting that is available to investors, stockholders, government and the worldwide public. These financial reports help with things such as tax collection, lot investors make informed decisions regarding potential investments and other relevant functions. (What is the Purpose of Accounting?) Another important facet of Financial Accounting is that it measures the transactions of a company through identifying, measuring, and recording them and then...If you neediness to get a full essay, order it on our website: Orderessay



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