What Is the Role of the Accounting Department?


Quick Answer

The accounting department is responsible for the preparation of financial statements, closing the books at the end of the month and preparing any necessary paperwork. The accounting department is also responsible for paying employees and vendors.

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Full Answer

The size of an accounting department within a company can vary based on its size; even so, the scope of the department will stay the same. Most often, the accounting department is responsible for anything related to finances for a company, including its earnings, taxes and overall costs. In addition, they may also have to work with auditors to ensure that the financial information that they are reporting is accurate.

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