{"id":80,"date":"2021-02-28T09:48:15","date_gmt":"2021-02-28T09:48:15","guid":{"rendered":"https:\/\/bcisnotes.com\/fourthsemester\/?p=80"},"modified":"2021-02-28T09:48:15","modified_gmt":"2021-02-28T09:48:15","slug":"the-accounting-profession-role-and-activities-of-an-accountant","status":"publish","type":"post","link":"https:\/\/bcisnotes.com\/fourthsemester\/the-accounting-profession-role-and-activities-of-an-accountant\/","title":{"rendered":"The Accounting Profession-role and activities of an accountant || The Conceptual Foundation of Accounting || Bcis Notes"},"content":{"rendered":"

The Accounting Profession-role and activities of an accountant<\/h2>\n

In this modern competitive world, accounting has emerged as a powerful tool. The accounting profession is not limited to ascertaining the operating result or financial condition of a business only. The accounting profession goes beyond this. They are mentioned below:<\/p>\n

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\"The<\/p>\n

Public Accounting<\/h3>\n

Accounting firms engaged in public accounting provide a variety of accounting services to the public against a certain change. They vary in size from large national or international accounting firms employing thousands of persons to numerous one-person practices which operate on a regional or local basis.<\/p>\n

Functions of Public Accounting<\/h4>\n

The prime functions of public accounting are mentioned below,<\/p>\n

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  1. Auditing<\/li>\n
  2. Tax services<\/li>\n
  3. Management advisory services<\/li>\n
  4. Small business services<\/li>\n<\/ol>\n

    Auditing:\u00a0<\/strong>It involves the examination of financial statements and generally forms an important part of the work of a practicing chartered accountant. All limited companies must have their financial statements audited by an outside chartered accountant.\u00a0 The major duties of a company auditor are<\/p>\n