Do we really need an Accountant in our company?

[Mataracy]

Though in our day to day business we are our own Accountant in one way or the other in the sense that; as an individual we make sure that we know what we buy and that the amount that we sell it is not lesser than the amount we bought it.

Despite this yet we still have some people that are more professionals in the Field which can help us more better in doing all these things.

Accounting can be describe as the art of recording, analysing, classifying and summarizing financial transactions and interpreting the result.

These transactions can be buying and selling which can either be on credit or cash basis. With this explanation we can say that account is a systematic record of business transaction entered in the ledger, this ledger is the principal book of account. Therefore ,account is a statement of dealing expressed in words and figures.

We have three type of Accounting. They are:
FINANCIAL ACCOUNTING:- Deals with analyzing classification and recording of financial transactions and the ascertainment of how such transactions affect the performance and financial position of a business.

COST ACCOUNTING:Cost accounting is the application of accounting and costing principels, methods and techniques in the ascertainment of cost and the analysis of savings and expenses as compared with previous experiences.

MANAGEMENT ACCOUNTING: Is the application of professional knowledge and skill in the preparation of accounting information in such a way that it will assist the management in the formulation of policies and in planning control and decision- making.

As we can see now the reason why An accountant is very important in any organization or business set up.
I belive that many people we have different idea which can really help a lot of people and owners of companies and businesses.
Why do we need an Accountant in a company ?

 

[Chibson]

of course it is very important and necessary for any company that really wants to succeed to employ a professional accountant. the accounting sector of any company or business is very crucial in the sense that it is what determines the success or failure of the business. It also measures to what extent the business has grown and gives the accurate growth of the company weather yearly or monthly.

 

[Bookwormlux]

The relevance of an accountant in an organization or business can never be over emphasised. So many business owners are not well informed about accounting terms and how things like that work , and their best bet is to get someone who has the knowledge to help out while they pay them. Having an accountant in your organization would enable you to also save time and do other things that would add value to your company.

 

[Good-Guy]

Well, I believe that you may need an accountant only if you run a business on a large scale that requires you to conduct and monitor huge financial transactions. If your business is not so big, then you can conduct this job easily on your own. For example, there are many shop owners in my country who run shops and they record their transactions, deposit, withdrawals, balance payable, and financial statements in registers. You can even install an accounting software on your computer and do this job on your own.