A full set accountant is a professional who handles a company's complete financial records, from managing daily transactions to preparing final financial reports like the Balance Sheet and Profit and Loss statement. This role includes responsibilities like general ledger entries, accounts payable and receivable, month-end closing, tax and audit compliance, and financial reporting. They ensure the accuracy and integrity of the company's financial health and are crucial for decision-making, auditing, and tax submissions.
Key responsibilities
- Financial record-keeping: Managing the general ledger, accounts payable (money owed to suppliers), and accounts receivable (money owed by customers).
- Month-end closing: Performing the necessary tasks to finalize monthly financial statements.
- Financial reporting: Preparing key financial reports, including the Statement of Financial Position (Balance Sheet), Statement of Comprehensive Income (Profit and Loss), and Statement of Cash Flow.
- Auditing and taxation: Playing a key role in preparing for audits and ensuring compliance with tax regulations.
- Analysis and budgeting: Analyzing management accounts and assisting with budget preparation.
- Intercompany reconciliation: Handling the reconciliation of transactions between different companies within a group.
