What Does an Accountant Do?

What is an accountant’s responsibility?

An accountant's responsibilities include preparing and maintaining important financial documents, preparing tax returns, advising on cost reduction and profit growth, evaluating corporate activities to identify areas for improvement, and ensuring that a company or individual is using their assets in accordance with local and federal law.

What can an accountant do for me?

If you own a business, whether small or large, an accountant becomes increasingly important as your company grows by ensuring that your books are clear, organized, and in compliance with the law. A good accountant will assist you in adhering to regulations, ensuring that your books are properly managed, and, most importantly, advising you on how to reduce your tax liability.

Different types of accountants


Related Articles

What is the difference between an accountant and a financial planner?

The difference is that a financial planner focuses more on the investment and future side of one’s financial situation, while an accountant focuses on the now of things. To learn more, read our article “What is the Difference Between Accountants and Financial Planners”

Looking for a trusted CPA firm in El Paso, TX?

Are you looking for an Accountant in El Paso? If you have any questions regarding forensic accounting, tax problems, tax planning, nonprofit accounting, payroll tax, etc. give our firm a call!

Marcus, Fairall, Bristol + Co., PLLC
230 Thunderbird Dr Ste G, El Paso, TX 79912
Phone: (915) 775-1040
Email: info@marcfair.com

External Links:

Comments

Post a Comment

Popular posts from this blog

Documentation in Accounting

Image
At  Marcus, Fairall, Bristol  the sensitivity of financial data is a top consideration. We have put in place multi-factor measures to ensure the privacy of all of our client files. Safeguarding the privacy of client information is a top priority and these record-handling procedures determine the manner in which we handle, save, and use documentation. Related Articles What Does an Accountant Do? When to Hire a Forensic Accountant How Accounting and Accountants Help Small Businesses What Questions Should I Ask a Business Accountant? Create Standard Operating Procedures A professional company must have a clear procedural system for handling day-to-day tasks. Professionalism necessitates clear data documentation and security procedures. We will create documentation solutions that will allow you to move forwards more efficiently. Your client, employee, patient, and other records are protected, and procedures are streamlined when you use standard operating procedures for record-keeping. Prop
Read more

What is the Difference Between an Accountant and Financial Planner

Image
Accountants would be defined as follows: An accountant is a professional who performs accounting functions such as  audits or financial statement analysis  as well as prepares tax returns and helps those that need tax problems resolved.  As a fairly new specialty, Forensic accountants work with historical records to find answers to questions specified in the project's scope of work.  Typically, these engagements are legal in nature and often Forensic accountants are hired by attorneys. Accountants must  abide by the ethical standards  and guiding principles of the region where they practice, such as the International Financial Reporting Standards (IFRS) or  Generally Accepted Accounting Principles  (GAAP). The most common accounting designations are the  Certified Internal Auditor  (CIA),  Certified Management Accountant  (CMA),  Certified Public Accountant  (CPA), and  Certified in Financial Forensics  (CFF). A Certified Internal Auditor doesn’t need to receive any license in orde
Read more

The Difference between Tax Return and Tax Refund

Image
  What Is a Tax Return? A tax return is a document that you fill out that reports your income, expenses, and tax bill. The document has been submitted to the Internal Revenue Service (IRS). In general, the document will outline how much income you receive, where it comes from, and how much money the IRS withheld for taxes in the previous year. The information is obtained from the W-2 form. Furthermore, the returns include deductions and credits, which usually lower your tax bill. Its complexity is determined by your domestic and financial circumstances. If you have different types of income or life events, you'll need to fill out additional tax forms. Keep in mind that you must file your tax return by a certain deadline; in 2021, that deadline is April 18th. What Is a Tax Refund? A tax refund, on the other hand, is the amount of money that the IRS sends back to you after assessing and revising your tax return. It's more like reimbursing an overpayment you made while filing your
Read more