Find Local Accountants Halesowen
When you think of an accountant you commonly think of people amongst mounds of paperwork endless looking into work data and finances for a business to ensure everything is in order. However, there are many different types of accountants that work in many different industries and work setting to focus on one of the multiple areas of accountancy available. It is essential for every business or organization that is involved with the transfer of money of any kind should employ a trusted member of the accountants Halesowen team. In this blog, we are going to delve deeper into accountancy and the different types of accounts available in Halesowen. Including these different roles, responsibilities and what each type of accountant specialises in to ensure you hire the perfect accountant who will help your business thrive and succeed.
5 Different Types of Accountants Halesowen
Through our research, findings, and knowledge of the industry, we will be looking into and explain the 5 most popular and sort after types of accountants available to you. These types of accountant Halesowen include financial, management and forensic accountants across Birmingham and the UK.
Forensic Accounting Birmingham
Forensic accounting is an interesting sector of accountancy if you are interested or in the need of someone who is usually compared to a detective of accountants. Forensic accounting Birmingham investigates and analyses your financial records to see if there are any discrepancies or misconduct which do not apply to the standards of law set. In many cases, forensic accountants are brought in to highlight these errors immediately so a plan of action can be put in place to right these wrongs. This information gathered can be essential if a case goes to caught as it is the job of the forensic accountant to translate the analysis of the records to the jury in a way they can understand and make an informed decision using the data gathered.
Financial accounting is typical what you would think of and associate with the role of an accountant. This type of accountancy handles the bookkeeping side of the business and keeping track of all financial records. Below listed are the typical responsibilities of a financial accountant on a typical day:
- Track the company’s current financial position based on incomings, outgoings, liabilities and how money is moving through the company.
- Their reports are used externally – by people outside the company, such as shareholders and potential investors.
- Monitor the company’s share value and make statements of stockholders’ equity.
A management accountant is involved in the crucial strategic decisions of business, Management accountants Halesowen and across the work evaluate the financial status of the business and inform the directors of the business and how the financial health could be affected negatively or positively depending on their proposed strategy. It is essential that a management account relays this information to the director so an informed decision with consideration of all data is reached that will benefit the company’s future. Typical roles and responsibilities of management accountant Halesowen include: Financial reports, risk management, planning and budgeting and profitability analyse to name a few.