Role of the accountant: Understand what it is and how this professional can help you
The presence of the accountant in the day-to-day companies is not something new. This professional has been the basis for more balanced accounting management in business for a long time. However, it is undeniable how much the role of the accountant has evolved over the years.
The major changes in the economic scenario and the sophistication of the tax system, added to the emergence and strengthening of concepts such as compliance and accountability, have greatly elevated the position of the accounting professional, making them indispensable for the proper internal functioning of businesses.
However, the true role of the accountant is still little known by companies, which prevents a more regular, transparent, and efficient performance.
It is based on this reality that, to reverse this scenario and help you understand the importance of the accountant, we prepared this post with content that has a lot to contribute to your business. Follow up!
The accountant came to occupy a much more strategic and less operational position within companies. The reasons for this are changes in legislation, the increase in the rigor of accounting obligations, and the sophistication of the means used to carry out the processes.
The old concept that the accountant is just the professional responsible for executing bureaucratic routines and dealing with numbers and spreadsheets is no longer consistent with the current reality.
More than that, the accounting professional is increasingly assuming a central position within the business. This happens in the face of the growing need to take care of points such as:
organize and optimize the company's fiscal, tax, and budget management, enabling its operation and the correct fulfillment of deadlines and requirements
active communication with the bodies in charge of supervising the activities of companies in all spheres of government
Due to the high competitiveness that marks the business scenario, management has become a structuring element of business. It makes it possible to keep finances and the fulfillment of obligations always in order.
In this context, the accountant is the key to the success of the business. It is he who develops and executes tax planning — an action that systematizes and manages the tax framework and the correct collection of taxes — in addition to managing the company's assets and liabilities.
Over the years, the functions of the accountant have also undergone some changes. And, as mentioned, his performance took on a more strategic and technical position, as he became responsible for important activities such as those presented below.
Record data and information
Today, as we know, companies are driven by concrete data and information.
In other words, the old “business acumen” has long ceased to be an exclusive criterion for decision-making.
In this sense, modern accounting provides real subsidies for decision-making. This happens through the recording of operations, balance sheets, and all sorts of data and information that can serve the company at present or in the future.
The complexity of administrative routines added to the importance they exert on the company's results require a rigorous organization on the part of those responsible so that errors do not occur.
At this point, the accountant is responsible for systematizing the information. In this way, it organizes documents, meets deadlines, and writes each transaction to, in the end, offer more qualified accounting support to decision-makers.
It allows leaders and managers to know the real situation of the company when evaluating strategic points such as cash, assets, liabilities, and projections.
More than that, a good organization also strengthens the establishment and fulfillment of goals. In addition, it is capable of enabling the comparison of the company's results in different periods.
Unlike what happened in the past, today the accountant plays a broader role within companies. Therefore, their skills and knowledge are useful in different sectors of companies, such as those mentioned below.
This is undoubtedly one of the sectors that benefit most from the presence of an accountant. That's because their technical and managerial knowledge helps to keep the financial health of the business always in compliance.
In addition to the points already mentioned, such as strengthening the organization and documentation of information, it is essential to mention the importance of the accountant when preparing income statements, evaluating cash flow, and, in general, the financial performance of the entire company.
This action is the basis for a strengthened performance, whose finances enable new investments, optimizations, and, consequently, the continuity of the business.
It is also worth mentioning the relevance of the accountant in the context of tax planning.
Currently, this is one of the great demands of companies. This is because errors in this regard can imply a series of fiscal risks and additional costs to the activities.
Tax planning is the expedient that seeks to match the size of the company with the amount of taxes paid. To this end, it takes full advantage of the tax benefits and incentives given to certain types of businesses.
In this case, the correct legal framework and the perfect interpretation of the tax legislation are the bases for this planning to be productive. Thus, the company is able to remain in compliance with the Tax Authorities. This is only possible with the support of a specialized professional such as an accountant.
In the context of HR, although sometimes overlooked, the accountant also plays a crucial role.
Knowing the legislation and tax routines, this professional helps the company to manage its human resources with regard to the collection of taxes and the guarantee of workers' rights.
In other words, the accountant reinforces the fulfillment of the company's obligations toward the employees. Thus, it helps to keep the payroll regular, with the correct discounts and transfers, without going over any rights or duties of the employee.
Finally, one cannot fail to mention the relationship between technology and the accountant's routine.
As we have already introduced, due to the modernization and digitalization of Bookkeeping Services Ajax, the control of information has become something much simpler and more agile, making life much easier for accountants.
Today, with the support of their own management tools and systems, accountants have all the information support they need to carry out analyzes with much more precision and rigor. In this way, they are able to put the company in a comfortable position regarding the fulfillment of its obligations and, also, regarding decision making.
For example, concepts such as big data, business intelligence, and automation formulate a much more strategic scenario for accounting — including reinforcing the usefulness of concepts in the area, such as management accounting — using data in favor of business.
Finally, as we have seen, the role of the accountant has evolved a lot over the years.
Given the above, it is clear that, in the current market, this professional has a unique value, helping not only in the bureaucratic part — mandatory for any company. But, mainly, in the strategic management of companies.
The major changes in the economic scenario and the sophistication of the tax system, added to the emergence and strengthening of concepts such as compliance and accountability, have greatly elevated the position of the accounting professional, making them indispensable for the proper internal functioning of businesses.
However, the true role of the accountant is still little known by companies, which prevents a more regular, transparent, and efficient performance.
It is based on this reality that, to reverse this scenario and help you understand the importance of the accountant, we prepared this post with content that has a lot to contribute to your business. Follow up!
The accountant is a strategic figure in the company
The accountant came to occupy a much more strategic and less operational position within companies. The reasons for this are changes in legislation, the increase in the rigor of accounting obligations, and the sophistication of the means used to carry out the processes.
The old concept that the accountant is just the professional responsible for executing bureaucratic routines and dealing with numbers and spreadsheets is no longer consistent with the current reality.
More than that, the accounting professional is increasingly assuming a central position within the business. This happens in the face of the growing need to take care of points such as:
monitor and predict the inflow and outflow of resources
organize and optimize the company's fiscal, tax, and budget management, enabling its operation and the correct fulfillment of deadlines and requirements
active communication with the bodies in charge of supervising the activities of companies in all spheres of government
Due to the high competitiveness that marks the business scenario, management has become a structuring element of business. It makes it possible to keep finances and the fulfillment of obligations always in order.
In this context, the accountant is the key to the success of the business. It is he who develops and executes tax planning — an action that systematizes and manages the tax framework and the correct collection of taxes — in addition to managing the company's assets and liabilities.
The main functions of this professional
Over the years, the functions of the accountant have also undergone some changes. And, as mentioned, his performance took on a more strategic and technical position, as he became responsible for important activities such as those presented below.
Record data and information
Today, as we know, companies are driven by concrete data and information.
In other words, the old “business acumen” has long ceased to be an exclusive criterion for decision-making.
In this sense, modern accounting provides real subsidies for decision-making. This happens through the recording of operations, balance sheets, and all sorts of data and information that can serve the company at present or in the future.
Organize the financial routines of the business
The complexity of administrative routines added to the importance they exert on the company's results require a rigorous organization on the part of those responsible so that errors do not occur.
At this point, the accountant is responsible for systematizing the information. In this way, it organizes documents, meets deadlines, and writes each transaction to, in the end, offer more qualified accounting support to decision-makers.
This organization is what guarantees transparency in its activities.
It allows leaders and managers to know the real situation of the company when evaluating strategic points such as cash, assets, liabilities, and projections.
More than that, a good organization also strengthens the establishment and fulfillment of goals. In addition, it is capable of enabling the comparison of the company's results in different periods.
The main sectors it can help
Unlike what happened in the past, today the accountant plays a broader role within companies. Therefore, their skills and knowledge are useful in different sectors of companies, such as those mentioned below.
Financial control
This is undoubtedly one of the sectors that benefit most from the presence of an accountant. That's because their technical and managerial knowledge helps to keep the financial health of the business always in compliance.
In addition to the points already mentioned, such as strengthening the organization and documentation of information, it is essential to mention the importance of the accountant when preparing income statements, evaluating cash flow, and, in general, the financial performance of the entire company.
This action is the basis for a strengthened performance, whose finances enable new investments, optimizations, and, consequently, the continuity of the business.
tax planning
It is also worth mentioning the relevance of the accountant in the context of tax planning.
Currently, this is one of the great demands of companies. This is because errors in this regard can imply a series of fiscal risks and additional costs to the activities.
Tax planning is the expedient that seeks to match the size of the company with the amount of taxes paid. To this end, it takes full advantage of the tax benefits and incentives given to certain types of businesses.
In this case, the correct legal framework and the perfect interpretation of the tax legislation are the bases for this planning to be productive. Thus, the company is able to remain in compliance with the Tax Authorities. This is only possible with the support of a specialized professional such as an accountant.
Human Resources
In the context of HR, although sometimes overlooked, the accountant also plays a crucial role.
Knowing the legislation and tax routines, this professional helps the company to manage its human resources with regard to the collection of taxes and the guarantee of workers' rights.
In other words, the accountant reinforces the fulfillment of the company's obligations toward the employees. Thus, it helps to keep the payroll regular, with the correct discounts and transfers, without going over any rights or duties of the employee.
Accounting and technology in strategic decision making
Finally, one cannot fail to mention the relationship between technology and the accountant's routine.
As we have already introduced, due to the modernization and digitalization of Bookkeeping Services Ajax, the control of information has become something much simpler and more agile, making life much easier for accountants.
Today, with the support of their own management tools and systems, accountants have all the information support they need to carry out analyzes with much more precision and rigor. In this way, they are able to put the company in a comfortable position regarding the fulfillment of its obligations and, also, regarding decision making.
For example, concepts such as big data, business intelligence, and automation formulate a much more strategic scenario for accounting — including reinforcing the usefulness of concepts in the area, such as management accounting — using data in favor of business.
Finally, as we have seen, the role of the accountant has evolved a lot over the years.
Given the above, it is clear that, in the current market, this professional has a unique value, helping not only in the bureaucratic part — mandatory for any company. But, mainly, in the strategic management of companies.
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