Accountant

An accountant takes a bookkeeper’s skills and responsibilities a step further. Either staff or a contracted service provider, the accountant will take the financial records and compile them into financial statements and possibly offer interpretations on the financial position or performance of the organization. Sometimes the functions of bookkeeper and accountant are combined.

Typically in the accounting field, the distinction between accountants and bookkeepers is one of education and experience. An accountant usually has at least an associate or, in most cases, a bachelor’s degree in accounting. The accountant is often better skilled and educated in the proper treatment of transactions and how they affect the financial reports. More so than a bookkeeper, an accountant may act as a business advisor. Some accountants are also uniquely skilled in addressing and interpreting tax-related issues — a specialty within the field — and most accountants will, at the very least, complete the organization’s tax returns. The accounting field can be further specialized by industry. When considering a staff accountant or outside service, look for someone who understands your business. While the basic concepts of accounting are universal, there are distinct rules and standards for certain industries. An accountant for manufacturing may possess a different set of skills than an accountant for nonprofit organizations.

AUDITOR

Your accountant may also be your auditor. Arguably, auditing and tax services constitute the primary functions of the accounting field. An audit is an examination of an organization’s financial statements consisting of a searching investigation of the accounting records and other evidence to support those financial statements. The role of the auditor is to attest or provide assurance to the fairness and credibility of the financial statements. The final result of any audit is the issuance of an audit report whereby the auditor expresses an opinion on the client’s financial statements.

With any luck, your auditor will issue an unqualified report, which states that your financial statements do indeed “present fairly the financial position and results of operations” for your organization for the stated period. It is important to note that an audit report expresses an opinion on the financial statements, not on the accounting records. The client is primarily responsible for all records and statements.

Дата добавления: 2014-01-11