Finance and Accounting Essay Example | Topics and Well Written Essays - 2000 words - 2

Finance and Accounting - Essay ExampleThey analyze results of strategic decisions and measure the value of the results, strategize to increase profitability, sustainability and flexibility, ensure that the business continues to grow, return value to owners and attract more resources, and make the decisions that are reflected in the pecuniary statements, they are key players in the world of business (Robinson, 2012, 12). They record, analyze, summarize and report monetary information for make use of by the management and investors, they also play an integral role in the firms insouciant management and decision making process, they execute strategic goals, drive growth and manage the firms risk by implementing financial controls over its business activities (Alba, et. al, 2005, 103).Financial accountability is important in maintaining a healthy business. They also educate their employers on financial information accordingly and advise them. Generally they do not have to work with other employees as they report to the management directly. The average salary of a financial accountant is $50820 per year (Robinson, 2012, 97). Tasks carried out by a financial accountant include summarizing and preparing financial records and statements to report externally, maintaining records of assets, liabilities, capital (shareholders equity), tax demands and financial transactions in the organization. They utilize accounting principles to ensure respect with regulatory reporting requirements.To become an accountant one requires advanced education and formal certification to imbibe qualified for senior accounting jobs. On the most basic level, accountants keep and inspect financial accounts for companies, governance institutions and individuals. Some accountants are self employed while others work for large firms. Most accountants work fully time though some work part time. Those who work part time are unremarkably busier during end of financial year and during tax seaso n (Ryan, 2004, 45). Most accounting professionals have