Financial Management 1. Bookkeeping: Accurately record financial transactions, including sales, purchases, expenses, and payments. 2. Financial reporting: Prepare financial statements, such as balance sheets, income statements, and cash flow statements. 3. Budgeting: Develop and manage budgets to ensure financial stability and growth. Compliance and Risk Management 1. Tax compliance: Ensure compliance with tax laws and regulations, including GST, income tax, and other applicable taxes. 2. Financial analysis: Analyze financial data to identify trends, risks, and opportunities for improvement. 3. Internal controls: Implement and maintain internal controls to prevent financial errors, misstatements, or fraud. Business Insights and Decision Support 1. Financial planning: Provide financial insights and recommendations to support business decisions, such as pricing, inventory management, and investments. 2. Performance analysis: Analyze financial performance metrics, such as sales growth, profit margins, and return on investment (ROI). 3. Strategic planning: Collaborate with management to develop strategic plans and forecasts. Operational Efficiency 1. Inventory management: Help manage inventory levels, track stock movements, and optimize inventory turnover. 2. Accounts payable and receivable: Manage accounts payable and receivable, ensuring timely payments and collections. 3. Cash flow management: Monitor and manage cash flow to ensure the business has sufficient liquidity to meet its financial obligations. Overall, an accountant for a clothing business plays a critical role in ensuring the financial health, stability, and growth of the organization.