Good accountant:
An accountant is a specialist in the financial sector responsible for managing and controlling a company’s monetary funds. They calculate taxes on time and submit all necessary documents to the tax authorities, handle payroll accounting, prepare financial statements, and more.
The profession of an accountant is one of the most in-demand professions in the Lithuanian job market. This is not because there are few accountants, but rather because there is a significant shortage of truly qualified specialists.
A good accountant must not only have a solid understanding of accounting and tax aspects but also stay updated with the latest changes in tax legislation and continuously improve their qualifications. Accountants need to be responsible and organized, as even minor mistakes or delayed submissions of documents to the tax authorities can result in substantial fines, account seizures, and more.
Depending on the nature of the company’s activities, the requirements for an accountant may vary. However, there are essential tasks that every accountant should know how to handle, such as:
- Maintaining accounting ledgers.
- Preparing profit and loss statements.
- Compiling balance sheets and reports on income and expenses.
- Calculating long-term assets.
- Organizing and controlling the company’s accounting.
- Timely and accurately preparing settlement documents and submitting them to tax authorities and social insurance funds.
- Handling payroll accounting.
- Managing personnel documentation.
Personal qualities that an accountant should possess include honesty, meticulousness, responsibility, and loyalty.
It is important to remember that no matter how good an accountant may be, one might not be enough, especially for medium-sized and large companies. The prosperity and legitimacy of a company heavily depend on well-maintained accounting. Therefore, sometimes it’s best to hire an accounting company that can handle your workload. In terms of cost, this option can be much more beneficial than hiring additional accountants.
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