Question

2. What is the difference between SUB and counter​

Answer 1

Accounting is perhaps one of the oldest disciplines practiced by humans. In fact, some documents record the existence of professional accountants up to 6,000 BC. But, as a result of the responsibilities that the accountant has on their shoulders, the countries began to legislate on the conditions that those who wanted to offer their accounting and auditing services to the public had to meet.  These local limitations are closely linked to the international Accounting Standards and the rules accepted by the different colleges or governing bodies of accountants present in the countries of the world.  Public accounting and accounting year  Public accounting and accounting are not the same. Although people often treat the professions of accountant, accountant and public accountant as synonyms, the truth is that they have many differences.  The origin of this confusion is centered on the similarity of the obligations that these positions have, since - in one way or another - they are related to each other. You might be interested in: Things you need to know to be an accountant What is an accounting assistant? Accounting assistants are accounting technicians or seniors with a bachelor's degree in accounting. They cannot directly offer their accounting services to the public and can only work for an accounting firm or under the supervision of a certified public accountant. They usually study at a university or technical institute, even acquire some skills in courses and diplomas taught by the Institute of Authorized Public Accountants (ICPARD) in the Dominican Republic However, although accounting assistants cannot act as commissioners or auditors or sign balance sheets and profit and loss statements, they can take charge of small accounting functions , such as: Doing payroll, Handling vendor payments, Assisting your clients with recording accounting entries, If they work directly for a certified public accountant, they will guide them through more complex tasks, but they will always be subject to their review. Auditing firms such as KPMG hire accounting assistants as interns and assistants to public accountants and auditors. Read on: Manual Payroll What is an accountant? The accountant, unlike an accounting clerk or technician, has a degree or title such as bachelor in accounting. But even though their academic training is extensive, they cannot offer their accounting services to individuals or work without the supervision of a certified public accountant; however, they can practice their profession in positions and positions, such as:  Comptrollers Financial managers General accountants Auditors in an accounting firm Assistant auditors of a public accountant SMEs and large companies often hire accountants to work directly in the finance or accounting direction of their company. By law, they must be under the command of a public accountant and carry out activities such as the following: Fill the accounting books Review the accounts and payroll payments Participate in meetings of the finance and collections management Help in the drafting of financial reports and subject budgets to the review and signature of a public accountant Once they acquire the experience they need and comply with all the legal requirements, they can go to ICPARD and request their registration as certified public accountants.  It may interest you: Six Steps of the Accounting Process So, what is a certified public accountant? Licensed public accountants are professionals who have met the requirements of the Business Companies Act and ICPARD regulations. Their performance is governed by the Code of Professional Ethics and the various periodic evaluations carried out by the regulatory body. A certified public accountant or CPA not only has a degree in accounting. In addition: You have received an exequatur from the Executive Power of the Dominican Republic to practice accounting You have two or more years working as a general accountant, auditor in a firm, comptroller, financial manager or related positions It has been registered and is up to date with the required quota by the Institute of Certified Public Accountants He is constantly trained, knows the International Auditing Standards and topics such as the preparation of financial statements; legal and accounting regime of companies; tax regime; Laboral obligations; Among others, the documents issued or endorsed by a CPA in the exercise of their functions have the nature of a public document in the Dominican Republic. You can even participate in a company as Commissioner -according to the Commercial Code- and monitor that the balance sheets and profit and loss statements, inventories and other documents that are presented at the General Shareholders' Meetings are not flawed.