An accountant’s primary role is to keep records of all incoming and outgoing transactions and to ensure that each transaction corresponds to the correct account. They compile all financial data to analyse the pattern of transactions and create financial reports for all stakeholders. An accountant also needs to create profit and loss statements, balance sheets, and other financial statements to present the necessary information to the management. They also forecast the budget by analysing income and expenses in the financial year. Furthermore, reconciling ledger accounts and guiding the clerical staff are also the responsibility of the accountant. Other duties of an accountant may include:

• Calculating taxes and submitting tax returns to comply with the law
• Auditing financial documents to ensure they are accurate and maintaining the confidentiality of the financial data
• Suggesting financial policies and procedures based on the overall financial status of the organisation
• Managing the company’s accounts to ensure on-time payment and overseeing the software system for financial needs
• Maintain the privacy of financial information, and when necessary, backup databases
• Rectify any anomalies or inconsistencies they discover in the company’s financial document
• Assess accounting software applications and accounting control procedures
• Make and evaluate the organisation’s year-end financial accounts
• Compose budget forecasts