Details of an accountant and accounting information

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Accountants are a people who record business transactions into books and classifying them in a summarized and meaningful manner for internal or external use. This kind of work is known as accounting. …

Accountants are a people who record business transactions into books and classifying them in a summarized and meaningful manner for internal or external use. This kind of work is known as accounting. They are therefore concerned with evaluation of performance of a business and also concerned with analysis and interpretation of the performance. When in need of an accountant London residents can look for them online or locally.

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  • 1. http://www.chandlersca.co.uk/Details Of An Accountant AndAccounting InformationAccountants are a people who record business transactions into books andclassifying them in a summarized and meaningful manner for internal or externaluse. This kind of work is known as accounting. They are therefore concerned withevaluation of performance of a business and also concerned with analysis andinterpretation of the performance. When in need of an accountant London residentscan look for them online or locally.They communicate accounting material to the users of accounting reports. They canchoose to work for a particular individual, organizations, big companies or evengovernment agencies. The basic requirements one should have may include a basicuniversity degree in finance and accounting and one should also be certified by alegally recognized professional accounting agency. They should also have vastknowledge and experience in accounting and be good in mathematical skills.Since they are concerned with the keeping of records, these records may includeinformation about the various assets and investments belonging to the company,details of inventory that is, the stock of goods, records about trade receivables, tradepayables, sales, purchases, sales returns, purchases returns, and capital of the firm.It may also contain payroll information.Accountants are in charge of guaranteeing that these accounts are kept in anorganized manner in ledgers which includes the sales ledger, purchases ledger orthe general ledger. They are entered using double entry method. These ledgersshould always be kept up to date so that they can be of relevance when makingbusiness decisions.The accountants can choose to solely specialize in book keeping, auditing taxes ortax returns. When compiling and presenting accounting information, they shouldcomply with certain stipulated accounting rules and regulations which are specifiedby a number of international accounting bodies.This means that they have to comply with a dual set of standards and rules. This isbecause it is compulsory for all accountants preparing financial and incomestatements to issue them in accordance with the stated standards.
  • 2. Accounting standards are given a legal status under the Companies Acts andcomply with European Union Directives. This ensures that there is no conflictbetween the law and accounting standards. Anyone preparing financial statementswhich are intended to truly reflect what has occurred and the financial position of theorganization must observe the rules laid down in the accounting standards. Whenenquiring for the accountants London companies are keen on the qualifications andlevel of experience. http://www.chandlersca.co.uk/