All About Virginia Beach Accountant

Accountant is the most famous person in the world today as far as taxes and business is concerned. But before the accountants came into being, there were different professions that also used to provide accountancy services. The first one was the attorney, who used to prepare the papers for marriages, deaths, birth and other legal matters. Then the accountants came into being to help the businessmen with their business matters. This profession is so much famous these days that it seems like a natural growth for any person with the capability of doing so. Learn more by visiting Accountant near Me.

The main aim of the accountants is to make the financial data of an organization, a state or a country sound, precise and reliable at all times. There are three kinds of accountants namely the public accountant, private accountant and internal auditors. The public accountants have to ensure that the tax returns are updated on a daily basis; maintain the books of accounts and taxes; investigate every kind of fraud etc and ensure that the tax payments are received by the government on a daily basis.

Private accountant: This is the most important part of the whole process of accountancy and is referred to as the assistant to the public accountant. They follow the same procedure of preparing financial statements and recording the income and expenses of the organization. However, they do not have to submit their financial statements to the government for filing of tax returns. They just keep a record of their own financial activities and report them to the authorities for future auditing. However, they have a lesser role than the public accountants as they report only to the concerned authority.