Who is a Chartered Accountant?
Chartered accountants possess unrivaled knowledge of the language of business, commitment, and skills. Corporations, businesses, organizations, communities, and individuals who want to achieve their strategic and financial goals seek chartered accountants who are full of integrity and vision to shape their success.
Why do you need a Chartered Accountant?
A chartered accountant can oversee your business or corporation’s entire accountancy needs or can perform a more narrow function concerning a single aspect of your business; in charge of auditing or taxes. From the leading companies to the influential organization, you’ll find a chartered accountant holding an influential position as a business leader, trusted advisor, or decision-maker. To undertake the financial and accounting matters which are quite sensitive, business people require someone with incredible knowledge of accountancy. Best and qualified accountants must be hired to handle the monetary issues without legal ramifications.
When to Hire an Accountant?
Professional chartered accountants have an important role in performing several business tasks including financial advising, auditing financial statements, and filing of corporate tax returns and their importance can not be neglected. If you want to grow your business financially you have to keep up with the best accountancy practices. Accountants have diverging roles and responsibilities in business with minute public understanding so there are misinformed public perceptions about their essentiality and value.
A chartered accountant will
Help you in writing your business plan: If you want to create a realistic business plan, an accountant will add financial projections and reports in it. Taking a financial advisor from the start will be fruitful in the longer run. You can save time, money, and assets.
Help you and advise you about your company’s legal structure: There are different types of legal structures based on different factors. An accountant will explain to you all the available legal structures and will help you in finding the most suitable one.
Help you in finances: You can get back on track if you are losing and your business becomes complex by seeking the professional advice of a chartered accountant. They will keep a track record of your important things in the form of graphs, tables, and charts.
Help you in applying for a loan: An accountant will help you in understanding the terms, conditions, and interest rates of banks while applying for a loan. He will also help in improving the chances of loan request approval.
Help in buying or selling a business: If you want to start from scratch or buy a running business and when you want to sell that business, a good accountant will help you to get the best results when you are going to buy or sell a business.
Help you in handling your business growth: A good accountant will help you in dealing with business transitions and to grow your business beyond expectations.
Are you looking for a qualified accountant who can offer you business advice?
If you’ve planned to use the services of an accountant to make key financial decisions you should find someone who is professionally qualified, experienced, committed and accountable to safeguard the integrity of financial reporting in your business.
During this accountant hunt, you might face some issues:
Do not randomly pick an accountant: Everybody can count, this mere sentence has made every naive and inexperienced person the holder of the title “Accountant”, so do not randomly choose an accountant. You should interview them personally and ask for their credentials, experience in the industry, some of their clients, their professional history, and the ideas they come up with.
The Internet is full of bugs: You can go on an online forum and ask can somebody please recommend me to an accountant? And there will be a lot of recommendations but many of them will have nothing to do with accountancy. Avoid hiring them through an online dictionary. You can tap into the industry’s network to have a good and authentic recommendation.
Accountants that are not problem solvers: You may find a person which has a focus on pure fiscal control but he may not be a problem solver. Find an accountant who should enjoy problem-solving to have a high and positive impact on your business. Approximately 41% of accountants enjoy problem-solving across the globe while remaining are just good at crunching numbers.
Finding a Certified Chartered Accountant is difficult: The title accountant is not protected and not every business accountant is certified or licensed. Hiring an untrained accountant who will not have a practicing certificate will make you less confident.
Trusted Chartered Accountants are rare: A chartered accountant will not just be an employee, but he will be the person who will get to know you and your business for years. Once you find a trustworthy accountant, start with the agreement then build and maintain a good relationship with him.
Micromanaging your business is a difficult task, finding the right chartered accountant for the planning and management of your business as a whole will offer you peace of mind and freedom along with their knowledge and experience. Professional chartered accountants are key pillars in your business and organization. You can lean on them, take a break and go on a vacation because the hectic area of the sustain value and growth of your business is covered and your finances are in the right hands.