The basic role of an accountant is to manage all the data related to the payments of the company and prepare a final financial report out of it. Basically the accountant takes all the details maintained in the bookkeeper to prepare the reports and also analyse the financial status of a company. The accountant can be found in both private sector and public sector. You can find many Hong Kong accounting firms which will help you to improve your business. One of such provider is the boardroom who gives best services in the accounting services Hong Kong. There are different types of accountants let us see few accountants roles and responsibilities.
- Cost accountant: The role of the cost accountant is to decrease the cost and improve the profits of a company. These accountants use different types of financial tools which help them to find out the correct cost for product and services. This information is used by the company managers who take decision related to the products and services and by taking profitable decisions the company will be always grow in good way.
- Financial accountant: The role of the financial accountant is to maintain the complete records of the different payments done by the company and using all these records and data the accountant prepares the financial report of the organization which will show the complete picture of the company financial status. It will also tell how the company has performed in the last fiscal year. These reports can be used by the different stakeholders of the company to make necessary decisions.
- Forensic accountant: The role of the forensic accountant is to make use of the account records and the investigation skills to check how accurate the financial report is. They also analyse and provide if there was any occurrence of financial crimes like fraud or lending company money etc.
- Internal Auditor: These are the people who do regular audits in the company and check all the activities done by any company. They review all the procedure and process followed by them and advise how to improve the internal structure and process of the company. They also look at compliance, risk management etc.
- Management accountant: These are the people who help the manager with the data regarding the financial or nonfinancial. They are also involved in the key decision taken within the organization. They prepare reports which can be used to take short term decision and also advise on the financial risk related to different projects which the company takes up.
- Tax accountant: These are the advisers who advise the employees and the company related to tax services like tax returns, helping to minimize the tax charges and explain the complete laws bout the tax services.
Hope this information will help you to understanding the different roles of the accountants. Keep this in mind while hiring the third party services.