Chapter 22: Role of An Accountants

• Financial Accounting


  is the focus on preparing and reporting an organisation's financial information to external stakeholders.

  It involves preparing standard reports like balance sheets, income statements, and cash flow statements.
• Management Accounting


  aims to help managers within the organisation with planning and decision-making.

  It could involve preparing reports on cost analysis, budgeting, forecasting, and performance evaluation.
• Bookkeeper


  is responsible for recording and maintaining day-to-day business's financial transactions, such as sales, purchases, income, and payments.
• Accountant


  is a trained professional who prepares, interprets, and analyzes all of a company's financial activities.