Question

Discuss the modern day accountant’s role in the current technologically dominated business environment. Explain your answer.

Answer 1

Followings are the main roles of modern day accountant in the current technologically dominated business environment;

1. Prepare financial statements (balance sheet, income statement, statement of cash flows).

2. Performing various relevant financial calculations & analysis for the management’s decision making.

3. Timely reporting on financial performance.

4. Collection of relevant financial information to assist in future planning and decision-making.

5. Prepare various types of budgets such as cash budge, sales budget, production budget etc.

6. Do analysis & monitor of all types of budgets.

7. Collect financial information to prepare journal entries, to prepare accounts, to prepare trial balance etc.

8. Identify and resolve any existing accounting discrepancies.

9. Maintain required financial data bases, required computer software systems, required manual filing systems.

10. Do regular supervision of financial recording & accounting recording.

11. Provide relevant financial advice & suggestions to top management.

12. Maintain payroll data, prepares and processes monthly payrolls.

13. Assist internal & external auditors with relevant information.