Categories: Accounting

What is Accountant?

&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad1" id&equals;"quads-ad1" style&equals;"float&colon;left&semi;margin&colon;0px 0px 0px 0&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<p align&equals;"justify">In history landlords used to appoint a literate person to write their financial information and to maintain accounts of their customers&period; The reason behind was that landlords himself were not capable for such functions or they had not enough time to write their accounts personally due to their other engagements&period; The persons appointed for record keeping were labeled as accountants&period; Their scope remained limited historically but as the economic horizons changed and businesses started flourishing the dire need for accountants emerged&period; <&sol;p>&NewLine;<p align&equals;"justify">In the 19th century when ventures of joint stock companies has been materialized and companies expanded operations from cities to cities and from countries to countries&comma; the need for uniform accounting and reporting standards was terribly sensed to protect the interest of investors&period;&&num;160&semi; The investors have to make their investment decisions based on financial information provided by the company&period; Therefore&comma; accurate decisions are not expected if investors do not possess concrete&comma; reliable&comma; and same pattern information for comparing the performance of the companies&period; Moreover&comma; due to increased regulations and tax complications reliable information is required to the Governments&period; All these reasons pushed the historically limited role of accountants into more broadened responsibilities and surfaced them into an important member of the management team&period; <&sol;p>&NewLine;<p align&equals;"justify">In the current era accountancy became charming career path for most of the youth in new generations and they serve as a practitioner of the accountancy&period; They are hired by the companies to prepared financial statements on the basis of generally accepted accounting principals worldwide&period; Further they are also appointed by the firms to provide reasonable assurance about reliability of financial information to help managers&comma; investors&comma; governments&comma; tax authorities&comma; and other stakeholders to make inform decisions and allocate resources&period; <&sol;p>&NewLine;<p align&equals;"justify">&lbrack;adsense&rsqb;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad2" id&equals;"quads-ad2" style&equals;"float&colon;none&semi;margin&colon;0px 0 0px 0&semi;text-align&colon;center&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad3" id&equals;"quads-ad3" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;

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