Introduction
According to Meyer
(2009), an accountant is a
practitioner of accounting or accountancy, which is the measurement,
disclosure or provision of assurance about financial information that helps
managers, investors, tax authorities and others make decisions about allocating
resources. Accountants can either be
employed with an accounting firm, a large company with an internal accounting
department, or can set up an individual practice.
Accountants must abide by the ethical
standards and guiding principles of the region where they practice such as IFRS
or GAAP. The most common accounting designations are CA, CMA and CGA. The type
of educational background and designation that an individual has will determine
their professional duties. In many jurisdictions, professional accounting
bodies maintain standards of practice and evaluations for professionals.
Accountants who have demonstrated competency through their professional
associations' certification exams are certified to use titles such as Chartered
Accountant, Chartered Certified Accountant or Certified
Public Accountant. Such
professionals are granted certain responsibilities by statute, such as the
ability to certify an organization's financial
statements, and may be held liable
for professional misconduct. Non-qualified accountants may be employed by a
qualified accountant, or may work independently without statutory privileges
and obligations.
Accountants play a vital role in an organisation.
This is because he/she is at the epicentre of financial management of an
organisation. A competent professional accountant in business is an invaluable
asset to the company. These individuals employ an inquiring mind to their work
founded on the basis of their knowledge of the company’s financials. Using
their skills and intimate understanding of the company and the environment in
which it operates, professional accountants in business ask challenging
questions. Their training in accounting enables them to adopt a pragmatic and
objective approach to solving issues. This is a valuable asset to management,
particularly in small and medium enterprises where the professional accountants
are often the only professionally qualified members of staff.
Accountancy professionals in business assist
with corporate strategy, provide advice and help businesses to reduce costs,
improve their top line and mitigate risks. As board directors, professional
accountants in business represent the interest of the owners of the company
(i.e., shareholders in a public company). Their roles ordinarily include:
governing the organization (such as, approving annual budgets and accounting to
the stakeholders for the company’s performance); appointing the chief
executive; and determining management’s compensation. As chief financial
officers, professional accountants have oversight over all matters relating to
the company’s financial health. This includes creating and driving the
strategic direction of the business to analyzing, creating and communicating
financial information. As internal auditors, professional accountants provide
independent assurance to management that the organization’s risk management,
governance and internal control processes are operating effectively. They also
offer advice on areas for enhancements. In the public sector, professional
accountants in government shape fiscal policies that had far-reaching impacts
on the lives of many. Accountants in academia are tasked with the important
role of imparting the knowledge, skills and ethical underpinnings of the
profession to the next generation.
The manager in an organisation
A
manager is somebody who is responsible for directing and controlling the work
and staff of a business, or of a department within it. In the business
encyclopaedia, manager is on described as a person, who fulfills the primordial
managerial functions (planning, organizing, motivating and controlling) and is
the superior of given human team (Encyklopedia biznesc 1995). Whereas Griffin
(2000) defines manager as a person who first of all is responsible for realization of management process. In particular manager
is the person that makes plans and decisions,
organizes, supervises and controls human, finance and information resources (Griffin
2000). A. Pocztowski also holds the view that manager is the profession
which essence is the management – the art of reaching goals by proper using the
finance, material and human resources (Pocztowski 1997).
Penc
(200) equally conceives the manager, as a person employed for managing,
fulfilling all his functions and making use of all or some part of
organization’s resources in order to achieve goals of the whole organization or
its given part. Author points also out that manager is the person employed in
the administration position, whohas comprehensive knowledge necessary to
leading people and managing the organization, in order to achieve optimal
realization of their tasks in the confined conditions. Penc (2003) is also the
specialist, who is able to find the solution in complicated conjuncture, who is
not afraid to take a risk, who can draw the visions of the future, formulate
the strategy of welcome changes and knows how to use the resources for optimal
realization of his visions (Penc 2003).
Herby
presented ways of defining “manager” term encourage to relate it to the term “supervisor”.
Supervisor – by P.F. Drucker – is each white-collar, who in view of his position
or knowledge is responsible for work contribution, which physically influence organization
achievement’s capability. Most of managers are also supervisors, but not all of
them, because there are many managers, who – in spite of being superiors to
other employees do not – have in any way impact on organizations achievements
capability (e.g. overseers in factories) (Drucker 1994). Another
definition for supervisor holds the view that supervisor is the person, who is
placed in formal organization and has subordinates. So, it is the person who
the head of the given department and causes – using employees – realization of
commissioned to this division tasks (Listwan
1993). Author does not mention in his definition that supervisor has
to have impact on organization achievements capability and therefore he does
not distinguish between supervisor and manager terms. In the next part of this
article the terms “manager” and “supervisor” will be also used exchangeable.
Managing
personnel could be divided in to many groups, it depends on the undertaken criterion.
The most often referred criterion is the position of manager in the
organization’s structure (hierarchy) (Penc
2000). From this point of view one can distinguish: a)
top-management – including managers occupying the highest posts in company’s central
administration or in branch establishments; they are responsible for planning
and strategic decisions;
·
Planning:
This step involves mapping out exactly how to achieve a particular goal. Say,
for example, that the organization's goal is to improve company sales. The
manager first needs to decide which steps are necessary to accomplish that
goal. These steps may include increasing advertising, inventory, and sales
staff. These necessary steps are developed into a plan. When the plan is in
place, the manager can follow it to accomplish the goal of improving company
sales.
·
Organizing:
After a plan is in place, a manager needs to organize her team and materials
according to her plan. Assigning work and granting authority are two important
elements of organizing.
·
Staffing:
After a manager discerns his area's needs, he may decide to beef up his
staffing by recruiting, selecting, training, and developing employees. A
manager in a large organization often works with the company's human resources
department to accomplish this goal.
·
Leading: A
manager needs to do more than just plan, organize, and staff her team to
achieve a goal. She must also lead. Leading involves motivating, communicating,
guiding, and encouraging. It requires the manager to coach, assist, and problem
solve with employees.
·
Controlling:
After the other elements are in place, a manager's job is not finished. He
needs to continuously check results against goals and take any corrective
actions necessary to make sure that his area's plans remain on track.
All managers at all levels of every organization perform
these functions, but the amount of time a manager spends on each one depends on
both the level of management and the specific organization.
Roles performed by managers
A manager wears many
hats. Not only is a manager a team leader, but he or she is also a planner,
organizer, cheerleader, coach, problem solver, and decision maker — all rolled
into one. And these are just a few of a manager's roles.
In addition, managers' schedules are usually jam‐packed. Whether they're busy
with employee meetings, unexpected problems, or strategy sessions, managers
often find little spare time on their calendars. (And that doesn't even include
responding to e‐mail!)
In his classic book, The
Nature of Managerial Work, Henry Mintzberg describes a set of ten
roles that a manager fills. These roles fall into three categories:
·
Interpersonal:
This role involves human interaction.
·
Informational:
This role involves the sharing and analyzing of information.
·
Decisional:
This role involves decision making.
Functions of an accountant
An
accountant performs financial functions related to the collection, accuracy,
recording, analysis and presentation of a business, organization or company's
financial operations. The accountant usually has a variety of administrative roles
within a company's operations. In a smaller business, an accountant's role may
consist of primarily financial data collection, entry and report generation.
Middle to larger sized companies may utilize an accountant as an adviser and
financial interpreter, who may present the company's financial data to people
within and outside of the business. Generally, the accountant can also deal
with third parties, such as vendors, customers and financial institutions.
Financial
Data Management: The accounting structure of a company is an
essential component to business operations. One of the primary roles of an
accountant usually involves the collection and maintenance of financial data,
as it relates to a company or firm. The accountant ensures that financial records
are maintained in compliance with lawful and accepted procedures and policies
on the corporate level. The financial information for any organization should
be kept in a pristine system because it is a key component used in operating
and managing any business. Managing the financial data of an organization can
also include more sophisticated duties, such as developing, implementing and
maintaining financial data bases, as well as establishing and monitoring
control procedures.
Analysis and Advice: As
analysts, accountants may perform certain types of analysis using financial
data that is used to assist in making business decisions. From deciding which
kinds of supplies to order, payment of bills to payroll, the accountant handles
many intricate financial details on a daily basis. Advising on business
operations can include issues, such as revenue and expenditure trends,
financial commitments and future revenue expectations. The accountant also
analyzes financial data to resolve certain discrepancies and irregularities
that may arise. Recommendations may also involve developing efficient resources
and procedures, while providing strategic recommendations for specific
financial problems or situations.
Financial Report Preparation: Accountants
typically prepare financial statements that may include monthly and annual
accounts based upon the financial information that is compiled and analyzed.
The preparation of financial management reports can include accurate quarterly
and year-end closing documents. Reports compiled may be used in connection with
the continual support and management of budgetary forecast activities. The
financial reports may be used by a financial director or officer for the
development, implementation and operation of a company's financial software and
systems, such as Hyperion, Excel and CODA Financial Management.
Compliance: An
accountant may also be responsible for ensuring that all financial reporting
deadlines are met, internally and externally. For example, quarterly,
semi-annual and annual reports all have specific deadlines, as well as some tax
implications. Monitoring and supporting taxation issues and filings can also be
a responsibility of an accountant. The accountant also usually coordinates the
audit process by assisting with financial data preparation.
External Business Affiliations: Often,
accountants must work with financial professionals from the four major fields
of the industry: public, management, internal auditing and government
accounting. Accountants may provide data to a public accountant, who acts as a
consultant, auditor and tax service professional. Corporations, nonprofits,
organizations and governments use management accountants to record and analyze
financial information of the businesses in which they are employed. They
usually advise company executives, creditors, stockholders, regulatory agencies
and tax personnel. Accountants may also work with government officials who are
examining and maintaining the financial records of the private business for
whom an accountant is employed, in connection with taxation and government
regulations.
Reasons why an accountant should present
annual financial statement.
·
Professionalism: since it is the function of an accountant to
present or document financial statement, he should not be responsible for
annual financial presentation
·
Ethics: An accountant knows the dos and don’ts of financial
presentation. Therefore he/she knows ways of protecting the company’s financial
integrity.
·
Clarity: An accountant will present financial statement of a
company with every amount of clarity.
·
Accuracy: Since an accountant is a professional, he/she is an
expert and therefore should be responsible for financial statement
presentation.
Conclusion
Annually, one sees the managers presenting
financial statement of an organisation which they did not prepare. Due to some lack
of most professionalism in accounting presentation most of the managers do not
know the ethics of accounting professionalism. Based on this, their financial
statement are seen to be faulty.
References
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Duda-Nowak R. (1998):
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