A professional accountant or accounting firm typically handles financial accounting. Accountants are responsible for collecting and analyzing financial data, preparing financial statements and reports, and providing guidance and advice to business owners. They are also responsible for ensuring that the company's financial records are accurate and up-to-date. In addition to professional accountants, other people may be involved in financial accounting. These include financial advisors, bookkeepers, auditors, and tax professionals. Each of these individuals has their responsibilities in the financial accounting process.
