Accountants review and analyse financial statements, budgets, financial reports, and business plans in order to check for irregularities resulting from error or fraud, and provide their clients with financial advice in matters such as financial forecasting and risk analysis. They may audit financial data, resolve insolvency cases, prepare tax returns and provide other tax-related advice in reference to current legislation.
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- Conventional / Enterprising
- Financial statements
The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.
- Commercial law
The legal regulations that govern a specific commercial activity.
- Tax legislation
Tax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.
- Fraud detection
The techniques used to identify fraudulous activities.
- Accounting techniques
The techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.
- Bookkeeping regulations
The methods and regulations involved in the process of accurate bookkeeping.
- Accounting entries
The financial transactions recorded in accounting systems or books of a company together with the metadata linked to the entry such as the date, the amount, the accounts affected, and a description of the transaction.
The study of statistical theory, methods and practices such as collection, organisation, analysis, interpretation and presentation of data. It deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments in order to forecast and plan work-related activities.
The accounting method of dividing the value of an asset over its useful life for the allocation of cost per fiscal year and in parallel to decrease the value of the asset from the accounts of the company.
- Financial department processes
The different processes, duties, jargon, role in an organisation, and other specificities of the financial department within an organisation. Understanding of financial statements, investments, disclosing policies, etc.
- Accounting department processes
The different processes, duties, jargon, role in an organisation, and other specificities of the accounting department within an organisation such as bookkeeping, invoices, recording, and taxing.
- Prepare trial accounting balances
Ensure that all transactions are recorded in the books of the company and totalise all the debits and the credits of the accounts to find out balance in the accounts.
- Identify accounting errors
Trace accounts, revise the accuracy of the records, and determine the faults in order to solve them.
- Draft accounting procedures
Lay down standard methods and guidelines to regulate bookkeeping and accounting operations, including determining the bookkeeping system used to record financial transactions.
- Follow the statutory obligations
Understand, abide by, and apply the statutory obligations of the company in the daily performance of the job.
- Manage accounts
Manage the accounts and financial activities of an organisation, supervising that all the documents are correctly maintained, that all the information and calculations are correct, and that proper decisions are being made.
- Check accounting records
Revise the accounting records of the quarter and year and ensure that the accounting information reflects with accuracy the financial transactions of the company.
- Prepare tax returns forms
Totalise all the deductible tax collected during the quarter or fiscal year in order to fill tax return forms and claim it back to the governmental authorities for declaring taxation liability. Keep the documents and records supporting the transaction.
- Ensure compliance with accounting conventions
Exercise accounting management and abidance by generally accepted accounting conventions such as recording transactions at the current price, quantifying goods, separating personal accounts of managers from those of the company, making effective the transfer of legal ownership of assets in its realisation time, and ensuring the principle of materiality.
- Attach accounting certificates to accounting transactions
Collate and link documents such as invoices, contracts, and payment certificates in order to back up the transactions made in the accounting of the company.
- Interpret financial statements
Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.
- Calculate tax
Calculate the taxes which have to be paid by an individual or organisation, or paid back by a governmental institution, compliant with specific legislation.
- Prepare financial statements
Collect, entry, and prepare the set of financial records disclosing the financial position of a company at the end of a certain period or accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.
- Analyse financial performance of a company
Based on accounts, records, financial statements and external information of the market, analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit.
- Perform balance sheet operations
Make up a balance sheet displaying an overview of the organisation's current financial situation. Take into account income and expenses; fixed assets such as buildings and land; intangible assets such as trademarks and patents.
- Explain accounting records
Provide additional explanation and disclosure to staff, vendors, auditors, and to any other instance about the way accounts were recorded and treated in the financial records.