3.1 : an introduction to the role of the accountant in business

1) identify the role Of a bookkeeper and an accountant2 2) know the different duties of an accountant 3) Explain the difference between financial and management accountant

What is a bookkeeper?

Involved in the day to day transactions of a business

What is the role of an accountant?

• Recording and reporting

• Forecasting

• Monitoring and control

• External auditing

• Internal auditing

Who are the management employed by?

The business

What do the management team do?

• Prepare info for use within the business

• Provide info to business owners and directors to make decisions

Who are the financial people employed by?

Firm of accountants and work as consultants

What do the financial team do?

Prepare financial reports for the business that will be published and made available for people to look at outside the business