The term accountant is used to refer to a personnel who play the role of measurement, disclosure and providing credible financial information to the managers of a given organization.  Accountants provide useful information which is meant to be used by various users in the organization. Managers of organizations have proved to be the main users of financial information.  Manager  have been classified as users of financial records by making decisions which are based on what the financial information portray. Other users of information provided by an accountant are the creditors and the lenders of the organizations capital. Other users of financial information include the tax authority, employees and potential investors require the accountants report so as to assess the returns of their investments in order to enable them know if they will inject additional investments or draw the current investments.

 

There have been establishment of organizations which are staffed with accountants who are hired at a cost in order to provide accounting services. An example of an already established organization is the penrith tax accountant which focus mainly on tax accounting. All organizations require accountants as financial information is required in all aspect of decision making whether it is based on capital, stock and labor is all very much related to financial records. The judiciary is also equipped with accountants who are referred as judge accountants. The practice of accounting is governed and restricted by statutes and rules which are set by bodies like the certified public accountants. The certified public accountants are responsible for setting principles of accounting which govern how the practice of accounting should be carried out and to ensure that no given accountant is violating the already set rules. The principles of accounting include prudence, consistency and materiality. More info here!

 

 

The practice of accounting calls for compliance with the already set rules and principles. The chartered accountant, chartered certified of accountant or certified public accountant are bodies established in order to ensure compliance with the already principles of accounting. Bodies which are responsible for setting the principles of accounting has also been endowed with the function of certifying qualified accounting organization and accountants. The bodies set also play the role of carrying out corporal punishment to individuals and organizations which carry out unethical practices and abuses accounting power with the aim of gaining advantages in terms of cash and bribes.  Read more claims about accountants at http://www.britannica.com/EBchecked/topic/103649/certified-public-accountant.

 

Accounting calls for qualifications by proving to be professionally competence through passing given tests. Individuals who are still being trained on the accounting practice can still choose to work as minor accountants who work for already qualified accountants. The liability of the non-qualified accountant are handled by the qualified accountants. Click here now!

 

 

 

The practice of accounting involves carrying out tax accounting, cost accounting, managerial accounting and auditing of financial records. Tax accounting is carried out to determine the tax liability of a given organization. Cost accounting as a branch of counting I used to determine the cost inquired during the production process. Auditing of financial records involves independent examination of financial accounts in order to give credibility to what he records indicate.