An accountant is a person who manages financial issues, including the preparation of financial plans and budgets, as well as the management of accounts and staff welfare.
In most countries, officially licensed accountants are recognized by titles. In the UK, they are termed as chartered accountants. In the U.S., accountants are commonly known as certified public accountants, whereas in Canada, they are either known as certified management accountants or certified general accountants. Although most of the accountants in Canada also function as chartered accountants, certified general accountants are also authorized to practice public accounting and auditing in the country.
The main responsibilities of accountants are to create financial reports and to undertake day-to-day bookkeeping for managers, regulators, and shareholders. Accountants manage a double-entry bookkeeping system wherein there are two entries for every transaction are made, one to a debit account and one to a corresponding credit account. As per accounting rules, the sum of the debit and credit figures should be equal and any discrepancy in the total means that there has been an error. An...
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