[ELI5] What do accountants do?


[ELI5] What do accountants do?

In: Economics

2 Answers

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The are licenses professionals who deal with financials of businesses or individuals. They might track the money a business collects from customers and spends running the business. They figure out more complex financial aspects such as depreciation and amortization (how businesses spread out calculating costs of long term purchases, say a delivery truck or factory) which affects both a company’s financial reporting to owners/shareholders and also tax filing. They files taxes for businesses and individuals, calculating income, deductions, etc. that apply.

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