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Role of Accountant in Modern Organization

I am very happy to write the content "Role of accountant in modern organisation" because role of accountant in the modern organisation is not one. From time to time, he plays lots of role whose list I have made in this content. If you learn the history of accountant, you can learn lots things which is excess than learning of practical accounting only.

Role of accountant in modern organization

1. A Role Model for Entrepreneurs 

In the modern organization, an accountant is a role model for entrepreneurs. A great treasure inside of accountant which can grow the entrepreneurs. By doing his accounting work and by becoming expert in accounting, he shows the way to entrepreneurs. His accounting records are always updated. He analyzes where did entrepreneur do mistake. He taught to entrepreneur, " By deep learning of accounting reports, entrepreneur should take the decision of their investment." He should never exploit the labors and employees. Capital will not increase such a way but capital will increase with reduce the wastage and losses. He wants to grow the financial position instead of making highest profits through all wrong ways whose end is bankruptcy.

Few Qualities of Accountant in Modern Organisation which an entrepreneur can learn:-

a) Modern accountant does not do the full time employment under the control of any organisation. He learned accounting. So, he starts his business of providing the service of accounting. Millions of organisations take help by getting modern accountant's professional service after giving him fees.

b) He works so hard. He never lives his life a idle person. He handles the big project of banks and companies. If same hard work will be done by entrepreneur, he will also get success in his business.

b) Today, Modern accountants are operating lots of enterprises. Through his intelligence, they write the books, operate online websites and operating accounting teaching institutes. Through raw material of their knowledge in maths, economics, finance and accounting, they have become the role model for entrepreneurs.

2. Role as the Founder of Business Organisation 

We know there are lots of functions of business organisation like production, marketing, sales, administration of employees, management of cash flow and accounting records. Do you know, accountant is expert in all these things.

a) He is better producer because he has capacity to analyze all the production and sales reports together. He can buy the best quantity at best prices. For him, all these things are just a game.

b) He knows the systematic business process for promoting sales because he is able to analyze every sale report in 1000 ways.

c) No one transparent than accountant because he makes the accounts, he publish the accounts and he is accountable for every record of expense and money matter.

3. Role for Using Accounting Software Effective Ways

Accountant in modern organisation knows every accounting software. He is expert in accounting software technology. Whole organisation is dependent on the accountant for recording all transactions in accounting software. He is the master of Ms. Excel, Tally.ERP 9, Ms. Access, ERP and Quickbooks and lots of other accounting software whose list you can see at wikipedia. By updating his knowledge in these accounting software, organisation takes special service for solving specific problem in their accounting software.

4. Role as Tax Manager 

Modern accountant works also as tax manager. He records all the tax matters like VAT, Service Tax, TDS, Income Tax and Excise. He is also expert to file their e-return.

5. Role as Financial Advisor

If business organisation thinks that it can do everything on the basis of money alone, then it is wrong.  Accountant's financial advice is important. When business organisation will take the financial advice from his accountant instead of taking any decision, accountant will use his brain for checking each financial fact. He will make his own financial strategy. He will also review all the past financial facts. On this basis, he will give his financial advice which will be helpful for business organisation.

6. Role in Investment Decision Making 

Accountant knows advance financial management and Finance. He helps in better investment decision. He studies the risk and reward of each investment decision. By hedging the risk, he tries to give the advice for investment decision. His advice will help highest earning at lowest risk. He has full knowledge of all the tools of investment decision making like capital budgeting, capital rationing, NPV, IRR and cost of capital. He is also expert in all the market in which investor can invest their money like share market, mutual fund market, money market, commodity market, real estate and forex market.

7. Role in Public Relation 

There are lots of parties who are interested in accounting record. One of them is public. Public represent a society. Business organisation takes all resources from society. By making and publishing accounting record, he creates a public relation. All the public wants to know who maintains these books of accounting. It is just like if you have read this content, you should know who write this content. Who is the author of this content? You will know more about me. You may be connect with me with different social media. Like this, lots of business community have the relation with CAs and other professional accountants of companies. These accountants and CAs also give the informal message through media and their articles in the newspaper. Through these informal message, public can get deep idea about the company's financial position.

8. Role as Internal Auditor

In modern organisation, accountant plays the role of internal auditor. When he is doing the duty of internal audit, he check accounting department's record. He makes internal audit reports on his enquiries  and investigations. This report is very useful for independent auditor. It will make easy the work of independent audit.

9. Role as Information Provider

Today, accountant has become the information provider. He provides right information at right place at right time through entrepreneur resource processing.

10.  Role in Waste Reduction 

When we make profit and loss account. One side, we show the revenues and other side we show the expenses. If we have to grow our business, we have to increase our revenue and reduce our expenses. For increases our revenue and decreasing our expenses, we can take the help from our accountant. Accountant can see the analytic view of each source of revenue. He also view the each expense. He also checks the effect of each expense on the revenue. In end, he will surely recommend to reduce the waste. When accountant will check the electricity bill of jan. and feb. Feb. bill is 40% high than jan. bill. He can give signal of wastage of electricity because he know the report of production in these months. There is 20% less production in the feb. It means, there is clear proof of wastage of electricity in the month of feb. So, if we follow the recommendation of our accountant and do best to reduce each wastage, we can grow our business.

Related : Role of Management Accountant


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Accounting Education: Role of Accountant in Modern Organization
Role of Accountant in Modern Organization
Accounting Education
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