1. The Importance of the Accountant Hierarchy
The accountant hierarchy can be seen in almost all the domains of accounting. It is
necessary that a hierarchy is followed by the accounting departments in each and every
sector. While implementing the accounting standards as well as accounting systems every
organization follows a hierarchy during the adoption, development and the
implementation of these systems. The most basic rung of the hierarchy in the accounting
is formed by the frameworks of the accounting systems. After that the next rung in the
accountant hierarchy is that of the standards, the specific categories of the accounting as
well as the reporting needs that are used in almost all the types of the organizations.
Once the concepts of the framework as well as the standards are applied to the
organization the minutest of the details are given to the bookkeepers as well as all the
accountants to record the transactions as well other events taking place in the
organization. The accountant hierarchy makes sure that the entire rules, policies as well
as the standards are followed and the results as well within the limits of the framework of
the accounting. One thing that needs to be made sure is that the applicable frameworks
are the same for the entire public sector in any country.
It needs to be noted that there are differences between the state and the local governments
and the other specific purpose public entity. Due to these differences it has been seen that
some of the accounting hierarchy policies would be public sector specific while the
others might be individual specific. The various levels of the accountant hierarchy that
are followed are:
a) The base level of the junior accountants whose main job is to set up the standards
as well as the instructions of the accountancy
b) The middle level is that of the senior accountants that are completely focused on
the policies and the functions of accounting
c) The last level of the accountant hierarchy comprises of the methodologists whose
primary agenda is to focus on the framework and the standards of accountancy
It is essential for the organization to follow the accountant hierarchy stringently in order
to get the best results from the frameworks and policies.
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