- They pass entries.
- They close books of account.
- They prepare financial statements.
- They audit the books of account.
- They prepare audit report.
- They sign audit report and financial accounts.
- In between all the above they discuss a lot.
If 1 to 6 takes 35% of the time, 7 takes 65% of the time (seriously!!!)
Non accountants think that this is some rocket science. Strictly, it is elementary. Luca Pacioli has kept it very simple. Every debit has a corresponding credit. Simple!!!. But people brag that they have tallied the balance sheet !!!! (CA students included).
All 11 months people from other departments say marketing, R&D , Business strategy run the show and finance finds it difficult to get into the limelight. Cometh april, reasons like finalisation, audit, Board meeting, resolutions are stated and other departments are made to look pedestrian.All accountants burn the midnight oil, forget families and dedicate themselves to the organisation (!!!!).
The next question that needs to be asked is - Is it really really required?
A big no is the answer. Reason being accountants dont plan (including myself). All important decisions are taken during the 11th hour. They inwardly like the last minute rush. So they should....... The inevitable has happened!!!Call from office.
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