Staying Ahead In A Fast Changing Accounting Environment
Accounting and Book Keeping is one of the core activities of any business. It encompasses the process of recording day-to-day transactions and providing valuable insights to company's financial health. It also forms the basis of all kinds of internal and external reporting. It is a mission critical support function for a business and creates the framework that helps the management in overall decision making and growth.
Role of an Accountant and Accounts Department
The importance of this function can be judged by the varied roles and responsibilities to be fulfilled by the accountant
- Recording of routine transactions like sales, purchases, expenses, bank transactions, etc.
- Managing banking transactions and handling of cash and cheques
- Following the authorization and approval process for issuing payments to vendors, external agencies
- Issuing salary payments as per company policy and rules
- Complying with taxation rules like TDS, Advance Tax, and GST at the transaction level
- Maintaining up-to-date records for compliance related filing and tax payments
- Preparing of periodic statements for MIS and internal reporting
- Preparing draft financials for audits and coordinating with auditors
- Maintaining of all physical records and documents like bills, vouchers, contracts, etc.
- Following any other set business policies or company specific requirements
In such a scenario, it is very important from the top management's point of view to have a strong internal system and framework in which the department works.
We are a new-age financial accounting company, that upholds age-old values and principles of Chartered Accountancy. We offer a fairly-differentiated set of services, tailored to specific business goals and challenges.