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 ?
'Obviously, the sawsaw tax case happened during Miss Henares' stint as BIR Commissioner, who also happens to be currently the Queen of All Fixer's personal accountant,' Barretto said then.
They said the cash came from a fund controlled by the sleazehit Italian PM's personal accountant Giuseppe Spinelli.
DiMasi's former personal accountant and lobbyist, Richard Vitale.
Frost was a trustee of the charitable trust established by Bernice Jones, the widow of trucking magnate Harvey Jones, and had been the couple's personal accountant since 1954.
The chairman of CRH, Mr Des Traynor, was Charles Haughey's personal accountant and operated the Ansbacher accounts from the headquarters of the construction company.
He cited the affidavits of Marcelo Adorco, security and driver of Kerwin Espinosa, Rolan Kevin Espinosa, younger brother of Kerwin, and Vervica Diano, Kerwin's personal accountant.

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