Accounting is frequently recognised as one of the most trustworthy professions, and accountants are well-respected business specialists. An accountant will become a trusted counselor to people within a workplace, and their input will be valued when business choices are made. Accounting positions, in contrast to other jobs that may be affected by economic downturns, tend to be far more stable. Accounting abilities are required in every organisation, and the accounting team’s work affects every department inside such companies.

The first role includes managing accounts receivable, which involves invoicing, tracking payments, and responding to associated inquiries. Number two is managing accounts payable, a current liability incurred when a corporation purchases products or services from vendors on credit. The third role includes payroll. The management of employee pay based on employee type, status, salary, wages, and deductions is known as payroll processing. It also entails reporting and paying employment taxes. Then they are also financial controllers, largely responsible for maintaining correct and timely firm records. And finally, they are financial reporters. The act of gathering and tracking data about a company’s finances, including sales, capital, and cash flow, is known as financial reporting.

• Tax Accountants – These accountants specialise in tax-related matters, including preparation of tax returns, annual financials and providing tax planning advice. As a Tax Accountant you can hold further qualifications as a (CPA) Certified Practising Accountant or a (CA) Chartered Accountant. Both these qualifications are regulated by the respective professional body in Australia.
• Management Accountants & Chief Financial Officers (CFA)- These accountants work within organisations to provide financial advice and support for decision-making, budgeting, forecasting, and performance management.
• Forensic Accountants – These accountants specialise in investigating financial fraud and other financial crimes, and may work with law enforcement agencies, lawyers, and insurance companies.
• Liquidation Accountants or Insovlency Accountants – These accountants are specialists in liquidating businesses that have gone bankrupt or insolvent, meaning they are unable to pay their debts as they fall due.
• Bookkeepers or BAS Agent – These professionals are responsible for maintaining financial records and preparing financial statements for small businesses and individuals. A bookkeeper is not required to hold any formal training or university degree.
• Auditors – These professionals review and evaluate financial records and systems to ensure compliance with accounting standards and regulations.

Yes! A local accountant knows the rules and laws well, so they can make sure your business follows. They stay updated on any changes and help you to manage rules, perfectly saves you time and money.