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How do accountants use math in their jobs?

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Quick Answer

Nearly every aspect of accounting, with the exception of client and employee relations, involves the use of math in tax preparation, record keeping and other financial duties necessary to keep companies functioning. Accountants interact with large sums of money on a regular basis and must be able to use bookkeeping software as well as being familiar with real-life bookkeeping methods like double entry record keeping.

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Full Answer

Because an accountant is responsible for maintaining a coherent set of records containing the entire history of an organization's business transactions, they must possess a working knowledge of bookkeeping. This entails a command of both basic and advanced math, as records show income and expenditures and tally their interaction over time.

Accountants working in the public sector must know how to perform a wide range of tax procedures. These procedures include audits and tax consultation, which demands not just a working knowledge of tax law but also a firm grasp of interest, gross profit calculations and other business terminology.

Accountants must be skilled in math in order to perform practically any aspect of their job. They must be responsible for showing the internal workings of the companies they serve at all times. Public accountants handle private citizens' money on a constant basis and must be competent to do so.

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