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 ?
Mr Woods said: "The Government has ensured that advice under the initiative comes from a professionally qualified accountant, such as a member of ACCA.
Most group management accountants generally develop into more commercial positions, which makes the role extremely attractive to newly qualified accountants who are fresh out of practice and looking to take their careers in this direction.
Two-thirds (67 per cent) of employers say retention of qualified accountants will be a key priority in 2011, with four in 10 (40 per cent) worried they won't be able to hold onto their star players.
And so, while the services of qualified accountants are evidently vital to the economic health of Wales, their profession is being undermined by a lack of legal protection for that role.
A team of typically well qualified accountants on pounds 90,000 per year (pounds 43.
NEWLY qualified accountants in Birmingham are pulling in salaries of pounds 36,000 a year as demand for number-crunchers increases in the city.
SKILLS SHORTAGES: There is a massive skills shortage for part-qualified and newly qualified accountants.
This is not only a serious issue in terms of consumer protection, but has also been a long standing issue with professionally qualified accountants, who hold themselves accountable to their chosen professional body and protect their clients through professional indemnity insurance and Continuing Professional Development.
The UK economy as a whole was booming and the expected demand for qualified accountants was very strong.
The Edinburgh based recruitment company are the first in Scotland to match firms with qualified accountants.
Despite the tremendous and growing need for Western accounting practices and qualified accountants in Eastern Europe, accounting firms face frustrating impediments and expensive hurdles in their race into the region.
The combination of Paladyne's technology and our domain expertise combined with highly qualified accountants gives Viteos a significant competitive advantage in scope of services, technology, and cost relative to other hedge fund service providers," said Shankar Iyer, CEO of Viteos Capital Market Services.

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