What Does an Accountant Do For Hotel Shareholders?

There are many different tasks that an accountant might perform in any given day, and there are many different duties they may be expected to fulfill, depending on what kind of accountant they are. If you train to become an accountant, you may be responsible for keeping track of all the numbers for a major corporation, nonprofit organization or government agency. Other types of accountants may be responsible for detecting fraud among employees, clients, taxpayers and other individuals. You could also end up giving financial advice or helping individuals and/or organizations with their taxes. The possibilities are numerous in the field of accounting.

Financial/Investment Advice

Many accountants prefer to work with companies, nonprofit organizations and individuals in an advisory capacity. An accountant may provide individuals and organizations with advice about whether to make certain investments or other financial decisions in order to make the most of their money. This is especially important for companies trying to save on taxes and for individuals or couples planning for their retirements.

Fraud Detection

With white collar crime on the rise, more and more accountants are going into fraud detection. This involves performing audits on the records of companies and individuals to make sure that nothing fraudulent is happening. You may be required to testify in court on occasion if you choose this career.

Keeping an Organization in Good Financial Health

If you get a job working for a large organization, you will need to use all your skills in accounting, finance, law and math. Your job as an organizational accountant will require the analyses of profit, loss and other aspects of financial health, which all involve an incredible amount of data tracking, auditing and other technical skills. You may also work as part of an accounting firm or government agency that performs outside audits of organizations to make sure that they are on the up and up.

Tax managements is crucial to all hotel business

Accounting auditing firms must be experts on the tax code regardless of what kind of accounting they go into. However, some accountants specialize in tax preparation or tax advice and focus solely on this financial area. From assistance with basic tax forms to managing the entire tax system for a major corporation, there are many tax-related duties that an accountant might perform. The main goal should always be to save the client as much money as possible without stepping outside the parameters of the tax law.

Author: Seth Vasquez