Five Ways An Accountant Can Help You Make Your Company Better

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So you’re trying to make your company better and improve your business, but nothing is sticking. You’ve read every business manual, watched TED talks, and spoken to other business owners about their working methods. But still, you’re no closer to finding the solutions you need.

The answer to your problems (or at least some of them)? Talk to an accountant. An accountant just gets my accounts and books done, right? Wrong – we offer so much more. But what?

Here are a few examples:

  • financial analysis
  • tax planning
  • budgeting
  • risk management
  • reporting and planning.

In this blog, we’ll pitch to you why an accountant will help you do better business.

Financial analysis

We can analyse your company’s financial performance by reviewing your financial statements, identifying areas of concern and recommending strategies for improvement. 

We can help identify where your business is generating revenue and where it’s losing money and provide advice on how to increase your profits.

Tax planning

We pride ourselves on being tax experts, so we’re always on top of tax laws and regulations. With this expertise, we can help you navigate tax issues like: 

  • inheritance tax
  • Capital gains tax
  • VAT.

Tax planning means ensuring that your business takes advantage of all available tax deductions and credits and avoids costly tax penalties.

We’ll create a plan that works for you – one you can adjust and adapt to your working environment and business model.

Budgeting and forecasting 

We can work together to create budgets and financial forecasts. We’ll incorporate these into your business plan and assess where you should be going to achieve your goals.

These are essential for strategic planning and decision-making. This will help you make better-informed decisions on where to invest your resources and what areas to cut back on.

Reporting and planning

As your accountant, we can prepare and interpret financial reports to help you understand the financial performance of your business. 

A financial report can be as straightforward or as complex as you need it to be. Maybe you’ve got a specific question: Where are you spending your money? Or where could you cut back on costs?

Financial reports may include the following:

  • profit and loss statements
  • balance sheets
  • cash flow statements.

Using this information, the report can help you identify areas of your business that are performing well and need improvement.

Risk management 

We can help you identify and manage your business’s financial risks. This could include:

  • potential tax liabilities
  • legal liabilities 
  • compliance risks.

We can also help you create a contingency plan for unexpected events that could impact your business financially.

Final thoughts on accountants

We’ve spoken to countless other businesses. That means we know what works and what doesn’t.

Working with an accountant won’t fix your business if you’re not selling anything – that calls for a different kind of action. 

But we can talk to you about where you want to go and where your business is headed if you do the right things, and give you clear data you need to make better decisions. Get in touch to talk about where your business can be made better

If you would like to discuss how we as accountants can help you make your company better and support your business, talk to us about our accounting outsourcing and virtual CFO services, please get in touch. We look forward to hearing from you.

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