There Is No Accounting for How Important Accountants Are
An accountant is a person who is involved in the measurement, disclosure or provision of assurances about financial information. They also aid business managers, investors, tax authorities and others in decisions about resource allocation. While long perceived as a boring occupation, accountants are a critical part of any business operation. In fact, accounting goes back thousands of years to ancient Mesopotamia.
There are three basic divisions in accounting: accounting, bookkeeping and auditing. Accounting concerns someone who is responsible to managing the finical information of a particular company. Accountants are often people who have gone to school specifically to learn about accounting practices, and they may even be certified by a state board. Bookkeeping on the other hand is a very basic form of accounting. Bookkeepers are often considered as clerks for accountants. They are responsible for keeping very basic records of a company’s financial transactions. They are usually not specifically educated in accounting practices or certified. Auditing concerns the verification of financial records, usually by a third party. Auditors are responsible for make sure that companies are not withholding information from shareholders, investors, or government officials. Auditors are usually certified accountants and possess special accounting and auditing education.
For large businesses, accountants are a necessity as the financial demands are too great for non accountants to understand and satisfy. Small businesses, depending on their size and the type of business, may not need to employ an accountant, and may instead only require simple bookkeeping. However, an accountant for small businesses can offer great incentives. For example, they will be able to help businesses manage their cash flows better, prepare tax documents and forms, and can be useful should legal problems arise. For more information about the benefits that an accountant for small businesses can provide, search online. The internet can also give you a list of all the small business accountants Calgary has to offer. Not all small business accounting firms are the same so be sure to ask how much is an accountant for a small businesses when hiring a Calgary accountant. More on this: www.smallbizcalgary.com