Accountant In London: Responsibilities Of An Accountant
Accounting could be thought of as a straightforward profession, knowing that it involves crunching figures and analyzing the figures. It is critical in a business function, which undoubtedly involves problem-solving and analyzing financial data. Each business, especially the large ones, has accountants that analyze cash flows, ensuring that the particular business manages its finances well.
Accountant in London is one of the highest-paid professions in the country as especially those who are employed in multi-million companies. If you are one of those aspiring to be one of the accountants in London, here is some information regarding the said profession.
What is an Accountant?
An accountant is a professional that deals with keeping and interpreting financial records. A wide range of related financial tasks, either for a single client or for large business organizations, are often the responsibilities of accountants.
Accountant and bookkeepers
Accountants and bookkeepers are often used interchangeably.
While the two have similar tasks, there is still a very noticeable difference between the two professions.
Typically, bookkeepers will have earned at least an associate degree that focuses on recording financial transactions. On the other hand, accountants usually have earned at least Bachelor’s Degree in Accountancy and are often tasked with interpreting financial information rather than merely gathering it. Put it, all accountants can be bookkeepers, but not all bookkeepers can be accountants.
Moreover, accountants are licensed and have to pass them before they can be Certified Public Accountants, giving them the legalities to perform necessary tasks bounded by law. For you to be protected by law, it’s also good that you pass the board exam and become a Certified Public Accountant.
Specific roles and responsibilities of accountants
Accountants in London vary in their daily routine and task. However, some things are similar among the roles and responsibilities of accountants. These include the following:
- It is ensuring the accuracy of financial documents, as well as the compliance of these documents with relevant laws and policies.
- Financial reports preparation
- Tax return preparation as well as ensuring that taxes are paid properly and on time.
- Evaluate financial operations. Through this, the accountant can recommend best practices, identify issues that would help find a solution to imbalances, and help run the business efficiently by ensuring safe financial flows.
Skills needed for an accountant
An accountant should have the best attention to detail. This helps them ensure that information they are dealing with is accurate and organized. They usually have a large amount of data that needs to be analyzed, and these huge data are prone to possible errors.
Moreover, an accountant has to have analytical skills aside from the basic mathematical operations he/she possessed. Analyzing data is always their main course in the field of work.