Area of service of Accountant
Area of service of Accountant
Some of services are as
follows:-
(1) Maintenance
of books of accountants
- Record transactions in systematic manner.
- Help ascertaining profit and loss and financial position.
- Help in planning, decision-making, controlling function.
(2) Statutory
Audit
- Every company requires to audit their accounts by an
external auditor.
- Accountant helps auditor to audit the accounts.
(3) Internal Audit
Internal auditor examines
the accounting system and ensures management that accounts have been properly
maintained. It improves operational
efficiency of business.
(4) Taxation
An accountant can handle taxation
matter of business as well as of individual and can represent himself on their
behalf to taxation authorities and settle tax liabilities. It can also reduce tax liability by proper planning.
(5) Management
Accounting and consultancy services
- Management accountant is mainly responsible for internal
reporting to management. It provides
services for planning controlling current operation, decision-making and special
matter and making long term plans.
- Accountant also provides consultancy service in area of
management information system, expenditure control, new investment, working
capital management, corporate planning etc.
(6) Financial advise
Financial advise in
following area:-
- Investment, Insurance, Business expansion,
Investigation etc,
- To
ascertain financial position
- To
make or buy decision
- To
ascertain reason of profit fallen
- To
increase efficiency
- In
case of fraud- Reasons, Nature, extent and suggestion for prevention
- For
valuation of business.
- Pension scheme.
1) Secretarial work
2) Share Registration work
3) Company formation
4) liquidation of company.
5)
6) Cost Accounting.
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#AreaOfserviceofAccountant
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