What is an accountant?
An accountant is responsible for analysing and reporting in preparation of financial statements and tax returns for an organisation. They review all associated paperwork and can also provide strategic advice to an organisation, investigating ways to make that business more profitable. Accountants can specialise in certain areas, these include roles such as:
- Tax accountant or advisor
- Staff accountant
- Management accountant
- Financial accountant
- Auditing or insolvency accountant and more…
However, the main duties of an accountant remain the same, save for a few additional specialised tasks.
Accountant duties and tasks can include:
- Preparing financial statements and tax returns
- Reviewing income vs expenditure of a business
- Managing cash flows and budgets
- Ensuring organisations are in compliance with appropriate reporting standards and accounting governing bodies
- Conducting financial investigations and insolvency management.
These accounting tasks are particularly well-suited to being outsourced as they are repetitive and rules-based, requiring a high level of attention to detail. By sending these accounting tasks to an offshore accountant, you are able to free up your local accounting team’s time to perform value-add, revenue generation work.