Explain the main functions of accounting?

Answer 1

An accountant is responsible for the higher function of designing where necessary, improving or modifying the system of accounts. Accountant supervise and coordinates the work of the book keeper, staff, writes up more important private and impersonal accounts and prepares the annual profit and loss accounts and balance sheet.

Accountant also interprets such accounts, prepares statistical and financial data, there from and advises the proprietors of business generally, on all the higher and more important aspects of accountancy and finance.

Answer 2

Accounting is the act of keeping records of all financial aspects of a company. Accountants record and calculate all expenses going out and all profits coming in so that they can determine a companies net profit.

Answer 3

The main duties of an accountant is to prepare income tax returns and/or balance a businesses or person's books. They spend a lot of time working with numbers and computer programs that run these numbers.

Answer 4

1.recording information

2.classification of data

3.making summaries

4.dealing with financial transactions

5.interpreting financial information

6. communicating the results

Answer 5

There are many functions of accounting. The four main ones are bookkeeping, summarizing accounts, reconciling bank statements and giving financial status of an organization.