About Accountants and Services

What Services do Accountants perform?
The competitive nature of today’s economic climate means you will always need someone you can rely on for sound, honest business advice. Obtaining the right advice from a professional who is impartial will contribute to the success of your business. On the other hand if that help and guidance is not there when you need it your business can fail.

A qualified accountant is the logical choice if you want to negotiate a clear path through the labyrinth of the modern workings of the business world.

Remember that your accountant is a multi-skilled business professional who has the knowledge and the experience in business practice to help you succeed.

However you need to look for a good accountant - don’t accept "any old advisor" just because they have the label "accountant" on their door.

The basic services accountants offer include:

  • Advice on many, many areas, including taxation and other regulations.

  • Financial advice and assistance with financial planning.

  • Interpret financial data based on the business results at any particular time.

  • Develop strategies and structures that support the ongoing growth of the business.

  • Assist with risk management issues.

  • Development of systems within your business to ensure efficiency in all areas.

  • Prepare management tools such as forecasts and improved methods of operation.

Minimum Services you should ask for
If you are in business you should ask your accountant to provide you with minimum services.

These should include the following:

  • Help to set up systems which will ensure your business runs efficiently and profitably.

  • Help with setting up your initial forecasts and performance targets, to maximise income and profit while reducing costs.

  • Request monthly meetings (at least) with your accountant so you can assess how the business is going. The accountant will be independent and can act as a "devil’s advocate" in order to highlight areas that are of concern.

  • Discuss ways of going forward in the business and also the requirements, should you (as owner) want to sell the business.