As an accountant you would be responsible for efficiently running a company’s record keeping. This means that you would manage bookkeeping, which includes tracking expenses, revenue, payroll, and paying the bills. With all of this information accountants put together profit and loss statements, balance sheets, and other financial reports. As accountants compile more of these statements, they identify and analyze trends in costs, revenues, financial commitments and obligations to predict future expenses and revenues.
Auditors take all the information provided by the accountants and make sure that the numbers are in compliance with government guidelines and laws. An auditor’s purpose is to identify any inappropriate accounting or documentation. If an auditor recognises any irregularities, they make recommendations to improve policies appropriately. Auditors are the detectives of the financial world.
Accountants and Auditors are a fundamental part of any company and their skills are highly sought after as their understanding of money is an important part of any successful business. As an accountant you must have adeptness in mathematics, be able to recognise patterns and solve any money problems that a company might be facing.