A full-fledged accountant is usually assigned more responsibilities and fulfills a more complex role than a regular accountant, especially in a small business. In small, medium or start-up firms you will find full-fledged accountants who do not need the services of an accountant or controller than in larger firms.
A full-fledged accountant takes care of all of a company’s accounting needs, from preparing the financial statements to overseeing the general ledger. He or she would work with an outside CPA firm at the end of the year to prepare financial statements and tax returns. A full accountant is also expected to report directly to the owner of an organization or to the highest level of authority.
Requirements for a full accounting function
A high school diploma is the least educational requirement for the accountant role, but some organizations or companies usually require further certification or training. Some companies or accounting firms would ask for a bachelor’s degree or associate’s degree, while some organizations would accept certification such as ‘the Certified Bookkeeper designation,’ provided by the American Institute of Professional Bookkeepers.
Other requirements for this role include advanced accounting software training, a combination of a certification and any advanced training, etc.
What does a full charge accountant actually do?
All accounting and bookkeeping duties can be handled by a full-fledged accountant. He or she supervises, performs payroll checks, invoices clients and clients, prepares bank deposits, prepares monthly and quarterly tax returns, and enters supplier and expense invoices.
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A full-cost bookkeeper prepares financial statements such as the income statement and balance sheets at the end of each month. He or she also has the task of preparing an equity statement or a cash flow statement, depending on what an organization needs or how it is structured.
In start-ups, small or medium-sized businesses, a full-fledged accountant oversees employees, purchases, personnel, inventory and helps organize workflow and verify work accuracy. He or she can also work alone in processing the financial reporting or basic accounting of an organization.
In contrast to the regular accountants, a full-fledged accountant looks deeper into a ledger. He or she would be expected to prepare and enter all journal entries for accounts such as depreciation and fixed assets.
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