Accountancy And Professional Studies at ITT Dublin
The professional accountant plays a strategic role in the management and development of all organisations. Accountants produce reports in the form of Profit and Loss Income Statements, Balance Sheets and Cash Flow Statements that communicate to stakeholders the performance and financial stability of companies, partnerships, sole traders and not-for-profit organisations.
The qualified accountant may work in a professional practice as a registered auditor as provided in the Companies Acts. This involves the registered auditor expressing an opinion of assurance that can be relied upon by users of the financial statements following the accountant’s examination of the company’s books and records. An accountant may work as a tax consultant providing specialist advice to individuals and companies when calculating their tax liability to the Revenue Commissioners.
The Accountant and Computers
The accountant uses information technology to record and present financial information to maximise users understanding. The professional accountant can use a number of different computer packages for this purpose or design unique information technology solutions if required. Accounting packages assist in recording financial transactions and are also used by accountants to provide detailed information on the cost of products and services, the revenues generated from different market segments and help to predict future revenues and expenses that may arise under defined conditions.
Accountants at the Centre of Things
In all organisations the accountant is at the centre of the decision making process. The accountant will provide advice and guidance to the Board of Directors or the senior management team in the everyday running of the organisation, particularly when making major capital or strategic decisions involving significant financial and other resources. The accountant is involved in the decision making process in all sections of the organisation. For example in human resources, the financial impact on the organisation of a wage increase for the staff, the implications of taking on additional employees or the reduction of the work force. Also in marketing, the financial effect of changing the price of an organisations product or service and the consequential impact on market share for that product or service. The accountant is a key adviser in the operation of any organisation.
Martin C Nolan, B.Comm, MA, FCA, AITI,
Head of Department of Accountancy & Professional Studies.
Tel: 01 404-2880 / Email: firstname.lastname@example.org