Top 10 Different Types of Accountants and Their Responsibilities

If you are running a small business, there will be many accounting responsibilities and processes you may not know. Moreover, all these accounting tasks can be challenging to manage alone. Therefore, this article will describe the 10 types of accountant in Troy, MI, that you can hire if needed.

Top 10 Different Types of Accountants

• Certified Public Accountant

CPAs are professionals who have cleared the Uniform CPA examination. These accountants help businesses to follow generally accepted accounting principles. They also handle various tasks, such as financial planning, tax preparation, and audits. 

• Staff Accountant

These accountants work under a CPA or financial controller and help businesses manage financial budgets and records. These accountants are responsible for journal and data entries accurately in the accounting system or software.

• Tax Accountant

Tax accountants are responsible for preparing taxes for small businesses. These people are proficient in knowing tax rules and regulations, including the drawbacks and loopholes. These accountants can help businesses save money while filing tax returns.

• Management Accountant

Management accountants work for private and public businesses, helping them with their financial numbers. They help businesses look for the best investments, risk management, planning, and budgeting. All these are helpful during the decision-making process.

• Financial Controller

A financial controller is a person who oversees the entire accounting function of any business. Their skills are similar to those of an experienced accountant. However, their duties are more vast. They supervise the entire process and report for compliance and other accounting activities.

• Investment Accountant

Investment accountants are experienced individuals who advise their businesses with investment opportunities. They are also responsible for ensuring the companies comply with regulations. They also assist in improving the financial strategies of the businesses.

• Chartered Accountant

Chartered accountants are people who are experienced in the laws and regulations of other countries. They are experienced in international accounting and can help businesses navigate with International Federal Reporting Standards.

• Auditors

An auditor helps the business examine its financial statements and compile reports. They inspect and audit the accounting books and systems and ensure they comply with the rules and regulations.

• Forensic Accountant

Forensic accountants are often called the detectives of accounts. Businesses hire them to find errors or fraud within the system. These accountants also help in investigations and litigations.

10. Government Accountant

These accountants work in government setups, managing public funds and performing system audits. Government accountants also work closely with the IRS on federal and local levels.

Wrapping Up

Here are the top 10 accountants that small businesses can use for their day-to-day activities. It will help them to lessen their workload and enhance productivity.