Tasks of an accountant

The role of an accountant has changed significantly in recent years. Gone are the days when all that was required was basic data entry and a few month-end reconciliations.

A good accountant now shoulders a much heftier burden as they need to keep track of complex and forever changing regulations and laws – especially here in Australia. 

They need to able to draw on their interpersonal skills to keep senior management abreast of how the business is performing – not just at the bottom line but by also providing useful and meaningful KPIs and forecasts, supported by accurate, reliable and timely data.

In the current economic client there is, more than ever, a need for businesses to be able to answer to their stakeholders. The accountant is therefore tasked with providing much of this information and management need to have confidence that the information they are receiving can be relied upon.

Processes and controls throughout the business are paramount and often it is the accountant who is in the best position, due to their experience and qualifications, to evaluate and implement improvements.

In summary, an accountant needs to make themselves familiar with all aspects of the company’s operations as a minor issue for one area may have a significant impact to the financial statements and notes which are subsequently presented.