Accountant

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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 ?
In addition, we wanted to provide innovative features like Account Watchdogs and Personal Accountant, as well as check imaging, to our online customers, which Sumx's system enables us to do.
The only thing better than Microsoft Money would be having your own personal accountant.
His personal accountant and close friend, Richard Vitale, was indicted on charges of illegal lobbying, arranging an illegal pay-to-play scheme, and making improper campaign donations.
Most recently, the speaker acknowledged receiving a $250,000 third mortgage on his house from his personal accountant, Richard Vitale, who has lobbied the Legislature for passage of a bill that would eliminate the current cap on add-on prices for the resale of sport and entertainment tickets.
of Little Rock, was a long-time friend of the Joneses and had been the couple's personal accountant since 1954.
The error was spotted by his personal accountants in January while his tax return for the previous financial year was being finalised.

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