CHANGING ROLE OF ACCOUNTANT

Changing Role of Accountant

Abstract

The role of the Accountant comprises of several tasks that matters for the organizations. The scope of the Accountant is not just limited to certain issues but they need to conduct an extensive analysis of the companies' financial statements. The Accountant needs to have analytical skills for the proper assessment of the financial statements of companies in the best possible manner. The Accountants are also the team members, these days and their work is not just limited to the aspect of working in the organization. The function of the Accountant has expanded considerably in terms of their role as an analyst. This is the major advancement of their role and they contribute a lot in the success of the organization. It can be said that the last 20 years, have proved to be quite useful for all the employees working in the Accounting Department of the organization. Therefore, this has been the major transition of the Accountants over the past several years.

Changing Role of Accountant

Overview of the topic

The globalized labour market creates new opportunities for fundamental importance to the counter of the new millennium, as the supplier of the truthfulness of accounting and financial information of a company, this professional becomes important communicator of information essential to decision making. The accounting professional must be seen as a communicator of information. The essential decision making is necessary because the ability to evaluate past events, understand the present and predict future events can be understood as leading to business success factor. The accounts took a major leap in recent decades, boosting the professionals to achieve its rightful place in the economic and social scenario but some market forces require competitiveness, dynamics, ability, professional development and the pursuit of perfection, that's where the Principles of Fundamental Accounting, Business Ethics and especially the cooperation of colleagues adds value to the profession and the entities it serves everyone (Albrecht et al, 2007).

Accounting professionals have a role in this process of solving problems, not as decision makers, but as responsible for the survey of data information of interest to users. The role of the accountants has changed considerably because of the change in the overall business conditions that have taken place over the last few years. The function of accountants has gone through several changes in the recent years. This has certainly transformed the overall role of the accountants and they are now even regarded as business partners or team members. Therefore, all the issues related to changing role of accountant will be discussed in detail.

The role of Professional Accountants

Professional accountants in business are expected to not only fulfil legitimate organizational objectives, but also to recognize and deal with the ethical impact of their decisions on a diverse set of stakeholders. Earlier research has researched bookkeepers' moral thinking, however little is thought about their moral affectability (i.e. their capability to recognize the moral part of their choices), which is fundamental for moral thinking to ...