What is the difference in function, not training, between a bookkeeper and an accountant?
I am a lawyer and will be asking an accountant to explain the difference under oath. I want to be prepared to evaluate the answer.
Tags: Accountant, answer, between, bookkeeper, difference, function, lawyer, oath, training
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July 7th, 2010 at 7:48 pm
A bookeeper is someone that keeps the accounts typically of a small business, or small entity. Their responsibilities could be payroll, accounts receivable or accounts payable.
An accountant is someone responsible for much more such as taxes (and other government reporting), general ledger, etc.
July 7th, 2010 at 8:40 pm
Bookkeeper keeps the records of all transactions (accounting of otherwise). An accountant is soley focued on accounting transactions, impact, and results. They also manage budgets.
July 7th, 2010 at 9:01 pm
A bookkeeper is required to log all financial information and accurately reflect the financial state of the concern.
An Accountant is required to process the available information and project the expected results. Accountants can do bookkeeping and should.
Accountants more times than not fail to speak until the problem has occurred. Many people argue with Accountants, and say all sort of things that most times is unwarranted. Accountants are required to exercise great fiduciary care with the companies they are overseeing. If more CEO – Managers – Department Heads were required to sign off on warnings presented by the accountant, many problems could be avoided.
Most times these problems occur because the person who started the action is oblivious to the possibilities of a mishap.