In many ways, accounting is the backbone of business. Its role is to track a company’s finances in their numerous forms, from credits, debits, and profitability to payroll and tax filing. It is a field driven by analytics and analytical interpretations, and the information derived from such functions provides a business with a record of its financial health and stability. Financial reports generated from this information can drive a company’s strategies in both the short and long term.
There are key occupations in the accounting field that collectively work to push a business toward long-term stability. Accountants, for instance, are commonly charged with examining financial records to ensure accuracy and to spot financial inefficiencies, and they’re also typically tasked with overseeing corporate tax preparation. Controllers commonly supervise a company’s accounting department, from departments directly correlated to business expenditures like accounts payable to peripheral ones like payroll. A chief financial officer (CFO) is an executive tasked with analysing a company’s financial health and using that information to plot current and future strategies for growth.
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Sage 50 is one of the most common accounting packages used by small and medium-sized businesses around the world. Being easy to install and automatically updated to ensure that users act in line with the latest UK legislation, Sage 50 is a good...