Once the concepts of the framework as well as the standards are applied to the organization the minutest of the details are given to the bookkeepers as well as all the accountants to record the transactions as well other events taking place in the organization. The accountant hierarchy makes sure that the entire rules, policies as well as the standards are followed and the results as well within the limits of the framework of the accounting. One thing that needs to be made sure is that the applicable frameworks are the same for the entire public sector in any country.
It needs to be noted that there are differences between the state and the local governments and the other specific purpose public entity. Due to these differences it has been seen that some of the accounting hierarchy policies would be public sector specific while the others might be individual specific. The various levels of the accountant hierarchy that are followed are:
a) The base level of the junior accountants whose main job is to set up the standards as well as the instructions of the accountancy
b) The middle level is that of the senior accountants that are completely focused on the policies and the functions of accounting
c) The last level of the accountant hierarchy comprises of the methodologists whose primary agenda is to focus on the framework and the standards of accountancy
It is essential for the organization to follow the accountant hierarchy stringently in order to get the best results from the frameworks and policies.
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