Martin LeFevre is a gifted accountant who has worked at a number of accounting firms during his career.
Accounting extends into many areas of life for both individuals and organizations. You may not realize that when you make entries in a checkbook or go over your online bank statements, you are doing accounting. When you get a personal loan or a mortgage on your home, you are dealing with methods that lenders use to calculate interest rates and fees, which is also accounting.
Accountants that work for organizations do not just prepare financial reports and statements. They also create internal control systems for the bookkeeping processes. The goal of such systems is to decrease the number of errors in the records of the organization’s activities. Internal control systems also detect theft, embezzlement, fraud, and other potential issues and problems.
Most people do not realize how important an accounting department is for any organization. Everyone understands that a business can’t exist without sales, but the necessity of accounting is often not obvious. Accountants create and control many of the back-end systems in an organization.
Here are some of the responsibilities of a typical accounting department:
Payroll. Accountants calculate or monitor systems that calculate total wages and salaries for all employees during all pay periods.
Cash processing. Accountants identify and record all cash from all business activities, including sales and other sources. They also make sure that cash is deposited into proper accounts and that sales people have enough cash to give change to customers.
Inventory. Accountants usually keep track of all purchase orders and inventory for an organization. They also track other products and services that the organization buys, from paper clips to warehouse trucks.
Many accountants, including Martin LeFevre, perform other functions as well.
Accounting extends into many areas of life for both individuals and organizations. You may not realize that when you make entries in a checkbook or go over your online bank statements, you are doing accounting. When you get a personal loan or a mortgage on your home, you are dealing with methods that lenders use to calculate interest rates and fees, which is also accounting.
Accountants that work for organizations do not just prepare financial reports and statements. They also create internal control systems for the bookkeeping processes. The goal of such systems is to decrease the number of errors in the records of the organization’s activities. Internal control systems also detect theft, embezzlement, fraud, and other potential issues and problems.
Most people do not realize how important an accounting department is for any organization. Everyone understands that a business can’t exist without sales, but the necessity of accounting is often not obvious. Accountants create and control many of the back-end systems in an organization.
Here are some of the responsibilities of a typical accounting department:
Payroll. Accountants calculate or monitor systems that calculate total wages and salaries for all employees during all pay periods.
Cash processing. Accountants identify and record all cash from all business activities, including sales and other sources. They also make sure that cash is deposited into proper accounts and that sales people have enough cash to give change to customers.
Inventory. Accountants usually keep track of all purchase orders and inventory for an organization. They also track other products and services that the organization buys, from paper clips to warehouse trucks.
Many accountants, including Martin LeFevre, perform other functions as well.
