Roles of the financial accountant

Question 1

4 roles of the financial accountant

Answer 1

1. Keeps accurate records of the daily financial transactions of the firm
2. Makes use of ratio analysis in order to compare performance from one year to the next and with competitors
3. Reports to the owners of the firm the effect of managerial decisions on the performance of the firm
4. Prepares periodic financial statements to show profit/loss, statement of financial position etc