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Accountant is the person who maintains business accounts and practitioner of accounting, which is the measurement and provision of assurance about financial issues that helps managers, share investors, tax return and others to make decisions. The work of charted accountant is to take a responsible like accounting, auditing, financial investments, project evaluation, business laws, corporate finance, taxation as well as corporate governance. Here we discuss some commerce terms which is necessary in your daily life and also for your general knowledge. These terms are given below- What is Account? – A record or narrative description of past events. What is accounting? – Logical list of related debits and credits of a business or we can say that it’s forms a part of ledger of accounts. What is Accountancy? – Accountancy means maintaining and auditing accounts and records for the business and preparing the financial reports for a business. Accounting provides an evidence of managing transactions, this practice started on a large scale when economies were developed. In former time people was using double entry bookkeeping. Double entry bookkeeping simply refers to a system where credit and debit both are noted for every transactions. That time accountancy was necessary so traders could keep record of multiple transactions when economy was established. From using the computers for accounting, the organizations are moving towards computerizing their total operations and processes using the popularity called ERP packages. Accounting has developed in the 19th and 20th century and many people find confusion in accounting. Charted accountant works in all fields of business and finance, some are engaged in public practice, some in private sector and some are employed by government bodies. The Chartered Accountants are accredited with substantial responsibility under different legislation such as compulsory audit of the all companies, banks, stock brokers, big income-tax accounts, large bank borrowers, etc. This shows the confidence and trust reposed by the Government and society in the business. The society has increasingly recognized the services of CAs in the all chain of management consultancy services including management accounting, management information and control system, international finance information technology and financial services sector. Kevin Meaney is an online marketer in the Ireland based company. He loves to write on different topics. Now he is sharing information on Accountants Ireland. Please visit bmboland.com for more information about Accountants Ireland.
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