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An accountant is really a individual who manages financial problems, including the preparation of financial plans and budgets, in addition to the management of records and staff welfare.

In most places, legally licensed accountants are acquiesced by titles. In chartered accountants the UK, they are termed. In the U.S., accountants are generally known as certified public accountants, whereas in Canada, they are both known as certified administration accountants or certified general accountants. While nearly all of the accountants in Canada also function as chartered accountants, licensed common accountants are also authorized to practice public accounting and auditing in the united states.

The main duties of accountants are to generate financial reports and to attempt day-to-day bookkeeping for professionals, regulators, and shareholders. Accountants handle a double-entry accounting system where there are two items for every transaction are made, one to a credit account and one to a corresponding credit account. Depending on accounting rules, the amount of the money and credit figures should be equal and any difference in the total means that there has been an error. An accountant inspects and also audits the financial records of people or firms, along side planning financial and tax accounts.

In america, specialized certificates can be obtained by accountants in different fields where they can hold brands like certified internal auditor, certified public accountant, certified management accountant, and approved business accountants. In the U.S., the governmental accounting standard board makes accounting rules for making financial statements for publicly traded companies and private companies. Further, some of the sales organizations that influence developing standard guidelines for accountants in the U.S. are the U.S. Exchange and securities Commission (SEC), the National Institute of Certified Public Accountants (AICPA), the Financial Accounting Standards Board (FASB), and the Governmental Accounting Standards Board (GASB).

Some major companies known internationally are Ernst, Deloitte Touche Tohmatsu, PricewaterhouseCoopers & Young, and KPMG. Many accountants perform different types of accounting like cost accounting, economic accountancy, and management accountancy. Accountants are experienced professionals and are an integrated area of the modern economy.