What are the Various Functions

Performed by a Certified General Accountant?

Certified general accountants (CGA) have now become an integral part of every organization and help in proper functioning of a firm. There are various tasks which a CGA has to perform and our aim here will be to go through details of some of the important tasks which are performed by CGAs.

Functions Performed by a Certified General Accountant (CGA)

Some of the main functions performed by a CGA include:

Auditing – Tax Advisory – Financial Accounting – Budgeting and Analysis

Auditing Tasks

The role of certified general accountant is to apply various auditing standards for reviewing a firm's internal controls (such as policies, processes and mechanism). CGA also needs to make sure that those controls fully adhere to necessary regulatory standards as well as industry requirements. As an auditor, the CGA has to ensure that all the processes are fully functional as well as adequate.

Tax Advisory

There are different tax advisory services that a CGA has to provide, these include:

• Filing of tax returns
• Making sure tax reporting system is functional
• Providing useful advice on how your company can save on taxes
• Recommending different wealth management strategies

Financial Accounting

It is the responsibility of CGA to perform review of your firm's accounting records (consisting of balance sheet, cash flow statement, profit and loss statement and shareholder's equity statement). 

Such review ensures that records are complete, fair and in compliance with accounting principles and your firm's corporate policies.

Budgeting and Analysis

Certified general accountant has the responsibility of preparing financial budgets for your organization. CGA also needs to analyze better investment option which yield higher returns, examine your firm's spending and recommend operational segments where cost cutting would be possible. They also study current economic trends and your company's financial obligations to suggest better ways of accomplishing financial goals.

Financial Reporting and Other Responsibilities

It is necessary for CGAs to properly maintain financial records of your company and perform financial reporting which helps you understand how well the business is progressing. Apart from financial reporting, some of the other tasks they need to perform include:

• Perform organization's budget forecast and analyze discrepancies as well as variances.
• Assist other departments such as administration and payroll with useful data and financial reports.

Adherence to Ethical Principles

Another positive thing about CGAs is that they follow various ethical principles to ensure that your company's best interest is always kept in mind while any financial decision is taken. They act with objectivity, trustworthiness, and avoid any type of conflict of interest. In addition to it, CGAs also take part in continuous professionals development so as to upgrade their knowledge and stay up to date with regulatory changes which may have an impact on financial objectives of your firm.

A Final Note

As we can see a certified general accountant plays a vital role in functioning as well as success of your business. By utilizing useful inputs provided by your CGA you can take right business decisions and expand your business further.

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