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Happy Accountant’s Day in Mexico!

Accounting is a fundamental pillar for the success of any business. It can monitor and interpret the course of a business project, requiring careful attention and proper management. According to the Mexican Institute of Public Accountants (IMCP), this profession was born in Mexico on May 25, 1905, when the first commercial accountant diploma in the country was awarded to Fernando Diez Barroso. (Excelsior, n.d.)

Accounting helps us keep the following aspects under control:

  • Cash
  • Inventory
  • Receivables
  • Payments
  • Costs
  • Expenses
  • Revenues

 

It is a continuous task that forms the foundation of every successful business. This month, we celebrate the accountants who manage the finances of companies and individuals. Their main task is to optimize resources, identify general expenses and investments made, and provide real and accurate information. The financial overview of a company helps us identify the factors that generate revenue and implement control models for decision-making. An accountant is the best manager to obtain this precise picture.

The work of accountants extends to various areas such as:

  • Tax issues
  • Auditing
  • Social security
  • Costs
  • Foreign trade

 

According to the National Institute of Statistics and Geography (INEGI), there are more than 800,000 people in Mexico dedicated to accounting and auditing.

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