General Accounting

General Accounting consists of the segment that aims to provide data on the current situation of a company. In addition, it highlights the trajectory throughout the existence of the organization and the estimates for the future. General accounting provides clients with conditions to understand changes and choose the best actions to adapt to new scenarios.

This accounting sector is useful for evaluating commercial and labor relations, making organizations more aware of their duties and rights. This attitude is essential for more effective negotiation with suppliers, creditors and debtors.

If you go through this area of ​​accounting, the recommendation is that you adopt a unified system to monitor company information. In this way, the professional can have a global and analytical view of the business, which increases the chances of making the best decisions.

Objectives of General Accounting

In addition to making clients manage financial resources and assets, general accounting allows evaluating various aspects related to the business, such as:

• assets (assets, values ​​and rights on behalf of the company);
• profits;
• liabilities (obligations, accounts payable, debts, etc.);
• losses;
• shareholders’ equity (organization’s resources considering the difference between assets and liabilities).

As a company is characterized by an analytical view of the assets and obligations to be settled, the greater the chances of avoiding debt and investing intelligently.

Importance of General Accounting 

General accounting is very relevant because it allows analyzing the results of revenues and expenses that have the most impact on the operation of a company. In the current scenario, an entrepreneur needs to have a sense of how much he collects from sales and prepare estimates of future earnings.

This action makes it possible to plan investments that will contribute to the company becoming more present in the market. However, it is necessary to assess how expenses affect the business before taking on new responsibilities.

Therefore, the accountant helps to accurately monitor a series of expenses, such as:

• acquisition of materials;
• light and energy bills;
• loans;
• taxes;
• employees’ salaries.

For an organization to stay active, it is crucial to do an accurate debt capacity analysis. Otherwise, there will be a huge risk of default and closing the doors due to lack of capital.

What sets it apart from other specialties?

One of the factors that most characterize general accounting is that it focuses on showing an overview of the company for different segments (banks, customers, suppliers and partners). That is, it has a role aimed at the transparency of a business. Today, companies must pass on information correctly and responsibly.

If this is not done, they lose investors and suffer serious damage to their image, which may be irreversible. The general accountant calculates the overall result, checking income and expenses. This work is carried out annually, allowing the entrepreneur to have a broader view of his financial health and asset management.

Information about the company’s actual situation is also made available to the external public. This factor increases the responsibility of the professional even more, since any mistakes will drive away investments and damage credibility.

What are the market trends?

Technological advancement has caused major changes in the career of an accountant. One of them involves the insertion of digital accounting , which is characterized by the insertion of tools (systems, applications, etc.) that help in the execution of services.

Today, some assignments can be made automatically by customers, such as issuing invoices. This new scenario requires professionals to have a more managerial profile. That is, present a more focused focus on being a consultant, instead of being stuck only with bureaucracy.

The accountant must be able to analyze scenarios and make predictions that help a company make investments that will increase the number of customers and, consequently, revenue. Therefore, it is essential that professionals in the area have solid knowledge of administration.

This global vision of a company becomes viable with the adoption of an ERP system, capable of integrating different sectors. As it is possible to have correct information in real time, the analysis of the financial situation and assets of the business becomes more efficient. This is indispensable for the accountant to suggest how activities should be managed, with a view to obtaining more expressive results.

Communication

Technological advances have also caused changes in the way accountants relate to the target audience. Many professionals are adhering to resources that allow direct contact with consumers. To offer adequate support, the ideal is to use WhatsApp and Skype, which enable remote communication in real time.

Clients and accountants should only opt for a face-to-face meeting in situations where such contact is necessary. Depending on the city, there is a considerable loss of time with displacements due to traffic. Time management is currently an aspect that directly influences productivity.

To create an authority in the market and gain more projection, some professionals are betting on digital marketing. This initiative consists of exploring social networks and blogs to publicize services and provide relevant information to individuals and companies.

In this way, the accountant becomes more visible and increases the chances of winning more customers. Investing in marketing and constant qualification is positive to stand out in general accounting.