Accounting personnel, Accounting Basics

Assignment Help:

There is almost not, any organization that does not have an accountant. His task is all pervasive and he is included in a broad range of activities, particularly in a huge and complex organization. The particular duties of an accountant might be different in differ organizations. Though, a broad spectrum of responsibilities can be known.

The accountants can be largely divided in two categories, such who are in public practice and who are in private employment. The accountants in public practice present their services for conducting financial and/or cost audit. By it, they are identified as auditors. The auditor examines the books of account and reports upon the balance sheet and income and loss account of the company as to where they provide a true and fair view of the state of issues of the company and its profit respectively. The auditor in a company is appointed through the shareholders to whom he reports. Public accountants are usually members of professional bodies needs the Institute of Chartered Accountants of India or the Institute of Cost and Works Accountants of India. As well to conducting financial or cost audit as in accordance along with the requirements of the Companies Act, like the case may be, they may also give consultancy services for design Qing or enhancing accounting and management control systems.

Accountants in service may be in various business or non-business organizations to carry out a variety of accounting and management control functions. Accountants at superior levels usually belong to professional accounting bodies but those who are at lower levels required not be so. Accounting chiefs in dissimilar organizations, depending on their nature of work, are variously intended as finance officers or chief's accounts officers or internal auditors etc. The term 'controller' is implies the head of the accounting and finance function is not extremely popular in India but of late it has been catching up. A number of large organizations, both in the private and public sectors, have now controllers. Here we have an concept of who these people are and what they perform.


Related Discussions:- Accounting personnel

Different depreciation methods, Different Methods Of depreciation Dimini...

Different Methods Of depreciation Diminishing Value Method Straight Line Method Annuity Method Depletion Method Written Down value Method

Depreciation, Depreciation on an Motor Vehicle of 5,000,000

Depreciation on an Motor Vehicle of 5,000,000

Sales discounts and cash receipts journal, SALES DISCOUNTS AND CASH RECEI...

SALES DISCOUNTS AND CASH RECEIPTS JOURNAL SALES DISCOUNTS Sales discount is recorded as a reduction in sales revenue.  CASH RECEIPTS JOURNAL Source documents: ca

Identified the facts and accounting issues, At the end of this assignment, ...

At the end of this assignment, you will have: Identified the facts and accounting issues at AVE. Researched the appropriate accounting literature. Analyzed, interpreted,

Explain about depreciation, Q. Explain about Depreciation? Depreciation...

Q. Explain about Depreciation? Depreciation Just as prepaid rent and prepaid insurance indicate a gradual using up of a previously recorded asset thus does depreciation. But th

Determine about the purchasing procedures, Determine the Purchasing Procedu...

Determine the Purchasing Procedures Alarge company would use a "purchasing agent" who heads purchasing department. Small companies would use manager/owner, etc. Seller recei

Dividends account, The Dividends account increases (debited) as well as an ...

The Dividends account increases (debited) as well as an asset cash decreases (credited) by USD 3000. Transaction 15 brings to a close the analysis of the Micro Train Company transa

Adjusting entries in the general journal, Adjusting entries in the general ...

Adjusting entries in the general journal Be sure to put down the words "Adjusting Entries" at the beginning of journal after the last entry of month. By placing these words at

Process for calculating gross earnings, Process for Calculating gross earni...

Process for Calculating gross earnings These are employee's earnings before any amount is deducted by the employer. Earnings are calculated either by a standard monthly r

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd