Accountant


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Related to Accountant: chartered accountant

Accountant

A professional who maintains financial records, notes expenses or revenue, and/or determines how much one owes or is owed. Accountants seek to assure that every individual or company pays, or is paid, the correct amount. There are several different types of accounting, each of which reports revenue and earnings differently from other methods. Two major methods accountants use are accrual accounting and cash accounting. Accrual accounting recognizes revenue and matches it with the expenses that generated that revenue. Cash accounting, on the other hand, recognizes revenue and expenses in the order in which they are received or spent.

Accountants play an important role in personal finance as well. One may hire an accountant to maintain accurate records, to ensure that enough money remains to pay one's bills. Likewise, people use accountants to pay personal or corporate taxes in the correct amount. See also: CPA, LIFO, FIFO.
References in periodicals archive ?
The National Association of Cost Accountants, the predecessor of today's Institute of Management Accountants (IMA), is formed.
Courts in different jurisdictions consider different criteria for determining when an accountant is necessary to facilitate communications between lawyers and clients.
The case law holds that advice from a lawyer for the purpose of tax return preparation is not "legal advice" because such could have been provided by an accountant and does not require the work of a lawyer.
Management accountants are increasingly being seen as the people who drive change within an organization.
Last, but not least, it discusses the importance of an accountant's workpaper documentation procedures, noting that "documentation is the principal record of the review procedures performed and the conclusions reached by the accountant in performing the review.
12 /PRNewswire/ -- AccountantsWorld, the largest community of independent accountants and the only organization dedicated solely to helping accountants advance professionally, has introduced an entirely different kind of payroll service that will have a significant impact on the payroll processing industry.
Rothman said: "This is a set of guidelines established by accountants for their own prudence and protection.
A resident of Uniontown, she is both a Certified Public Accountant and Certified Valuation Analyst.
A neutral accountant performs the same duties in a divorce case that two separate CPAs would: gathering documents and making inquiries of the divorcing husband and wife to determine their income and expenses.
Well, the results are in: Mark Olson was named PCAOB chairman in June and Conrad Hewitt was named SEC chief accountant in July.

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