I was asking myself the same thing the other day. Turns out “accountant” is a bit of a blanket term. There are many possible types of accountants out there, and they can handle a wide array of financial duties within a company. But to keep this simple, the basic duties accountants are expected to handle within a company include the following.
1 – Bookkeeping. This means accountants need to keep track of every profit, loss, income, and expense going on within a company. A solid bookkeeping system is imperative in order for companies to stay on top of tax paperwork and remain transparent and attractive to their investors.
2 – Tax paperwork. Accountants are usually the ones in charge of all the tax paperwork within a company, making sure the government is paid it’s due and there are no hiccups that could harm the company’s operations.
3 – Reporting. Finally, since accountants are often the ones most familiar with a company’s financial information, it’s also their duty to generate reports and provide insights on the current financial health of the company, as well as what could be done to improve profitability.
This is the gist of it, but as I said, there are many types of accountant. And while major accounting firms may have hundreds of employees, you can also find small firms composed of some of the best startup accountants out there. Click here if you’d like to learn more about the latter.