Importance of Accountant and Financial Manager - Essay Example

First, a financial manager should be more experienced than an accountant. Besides, the manager has a lot of responsibilities such as coordinating and organizing the activities within their department and supervising the employees under them including accountants.

Moreover, the duties of the financial manager include the preparation of financial statements, overseeing financial services, monitoring cash flows, predicting future trends in business, monitoring the financial system, and offering advisory services to the top management on the best strategies for improving financial performance to ensure the growth and success of the organization. These differ from the accountants whose role is to collect financial records, prepare tax returns alongside other financial records, and monitor and ensure they are up to date and in compliance with the company policies and legal standards.

Nevertheless, while discharging their duties, accountants and financial manager should comply with the codes of ethics governing the preparation of financial records. As the law demands, everything should be done transparently without defrauding the organization and its stakeholders. In my opinion, people became conscious of transparency after the mega infamous accounting scandal at Enron Inc was unmasked in 2001. It was not until the senior management, accountants, and auditors were jailed for engaging in fraudulent accounting activities that accountants started becoming careful.