Who is an Accountant?
An accountant is a practitioner of accounting or accountancy. Accountant looks about the financial position of the business, where the business man can know where to invest money, how to manage business, tax authorities and about allocating resources. In many jurisdictions, Accountant has to maintain standard of business in all profession. Accountants in this profession have “certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant. Accountant has responsibilities in functioning of the business; the expertise and knowledge of an accountant is invaluable, whether you’re writing a business plan, dealing with tax compliance or enduring a tax audit. Most accountants are employed in commerce, industry and the public sector.
How the Accountant will help Business?
While starting business every person think whether the business will work properly or will go in loss .So when you’re running your own small business you end up juggling a lot of different roles. But hiring an accountant is one investment that can really make a difference to your company’s growth .One should take an advice of an accountant while writing a business plan an accountant can give you invaluable help. They can use accounting software to add financial projections and other reports to get a better handle on the numbers. This helps you create a business plan that’s realistic, professional and more likely to succeed. Accountants will advice you about company’s legal structure, finances and to keep the control over debtor and creditors.
Accountant -Deal with the Government
There is plenty of tax and regulatory paperwork that you need to fill out as your business expands. Dealing with government issues can be quite technical aspects of the running of the business can be daunting. Accountants can help you with more than just tax returns, though. They can help you keep on top of all your regulatory and compliance requirements. Once your business gets to a certain size or turnover, you may need to be audited. An audit can be a stressful, time-consuming and expensive experience. An accountant will give you advice on the auditing process and make sure you comply with tax and audit compliance laws.
Accountant Makes Bank Work Easier
When you’re applying for a business loan or overdraft: When banks lend money they like to know they’ll get it back. Lending to small businesses has dropped in most countries since the recession. An accountant can present numbers and projections to convince the bank you can repay the loan. Sometimes your business grows at an unexpected rate. Having an accountant can help you deal with these growth transitions – things like taking on bigger office space or hiring employees etc. Buying a franchise can be an effective way to start up in business, the franchise company supporting you with brand, marketing and sales. An accountant can help you check whether a franchise opportunity is worthwhile and what the potential fees, charges and income will be.
Effective Role of Accountant
Accountant play most important role before you buy or sell a business: You don’t have to start a new company to go into business; you can buy one that’s already up and running. But before buying an existing business, you should talk to an accountant. They’ll look at the company’s accounts to make sure everything looks shipshape. When you’re running your own small business you end up juggling a lot of different roles. But hiring an accountant is one investment that can really make a difference to your company’s growth .Accountants can help you out during every stage of your company’s development.
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