Maintain accurate and up-to-date records of all financial transactions.
Prepare and maintain ledgers, journals, and balance sheets.
2. Financial Reporting
Prepare financial statements such as balance sheets, income statements, and cash flow statements.
Ensure timely submission of reports to management, stakeholders, or regulatory bodies.
3. Tax Preparation
Calculate taxes owed and prepare tax returns for individuals or businesses.
Ensure compliance with tax laws and regulations.
Plan tax strategies to minimize tax liabilities.
4. Auditing
Conduct internal audits to ensure compliance with financial policies and procedures.
Assist in external audits by providing necessary documentation and explanations.
5. Budgeting and Forecasting
Assist in the preparation of budgets and financial forecasts.
Monitor actual expenses versus budgets and report variances.
6. Accounts Payable and Receivable
Manage accounts payable (outstanding bills) and accounts receivable (incoming payments).
Ensure timely payments to suppliers and timely receipt of payments from customers.
7. Payroll Processing
Calculate and process employee salaries, bonuses, and deductions.
Ensure compliance with labor laws and tax regulations.
8. Financial Analysis
Analyze financial data to help management make informed decisions.
Provide insights on cost reduction, revenue growth, and profitability.
9. Regulatory Compliance
Ensure adherence to financial regulations such as GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards).
Stay updated with changes in financial laws and regulations.
10. Advisory
Provide financial advice to management on investments, cost control, and profit maximization.
Offer suggestions for improving financial operations and procedures.
11. Asset and Liability Management
Keep track of company assets and liabilities.
Ensure proper valuation and reporting of assets and liabilities.