The accountant is often seen only for his accounting and tax-keeping duties. It is therefore often exploited by companies and professionals as a sort of accounting expert to refer to for tax and accounting information, but a chartered accountant is much more!
So what does the accountant do? What can you do to support the entrepreneur or the professional?
Here are 5 questions that a good accountant should be able to answer: key questions to ask in order to increase the chances of success of your business and make full use of its skills(https://www.tet.no/avdelinger/kristiansand).
# 1 – Is my company economically healthy?
Since we are explaining what the accountant is for and how his intervention can improve the performance of a commercial reality, the first thing to ask him is how healthy the company is from the economic point of view: a competent and up-to-date person on the situation of the activity it provides precise data, which allow for the adoption of correct strategies.
Thanks to his experience and the knowledge developed over time, this figure will know :
determine if the company in question generates enough profits ;
understand what to do to maximize revenue ;
correctly manage the entire bureaucratic sphere (presentation of the questions in the right times, payment of taxes, etc.).
# 2 – What growth strategies should I focus on?
When asked what the accountant does and why his role is so useful for any activity, we must start from the assumption that this figure, thanks to his experience and expertise, can help identify the best business management strategies to be implemented in the short and long term.
A good accountant helps, for example, in analyzing the costs of any employee (salaries, taxes, insurance, etc.) to understand if this is sustainable by the company or if the cost for the purchase of new equipment can be lowered by taking advantage of specific tax benefits. Useful indications that allow those who manage the activity to know what to bet on.
# 3 – What can I give up?
Even if giving up equipment, offices and employees can be extremely difficult for any business owner, the objective point of view of a prepared chartered accountant provides essential information on what could be eliminated and what should be maintained to make everything work properly by optimizing costs.
The simple fact that this figure periodically analyzes the financial and structural situation of the business drastically reduces all waste of money, because its frequent control of income and expenses allows it to easily identify the indispensable costs and those superfluous or useless.
# 4- Will I achieve my goals?
Defining and promptly communicating to the accountant(tet) their own objectives, or even confronting themselves with the same for the definition, it is possible to receive the right assistance that allows developing effective business management capable of guiding the activity towards the company objectives set in the desired times.
After assuming specific growth steps of the activity, these must be indicated to the trusted professional, with the aim of obtaining from the same advice and useful suggestions to follow in order to achieve the established goals.
# 5 – What else can I do to improve my business?
In addition to what has already been said previously, the accountant can also help by simply providing his own opinion derived perhaps from previous consultations to identify any critical points and possible solutions aimed at improving the current situation.
If it is true that four eyes are better than two, it is also equally true that an external person with the right experience and expertise can give good indications to simplify the financial processes related to invoicing, cash flow monitoring, etc.(https://www.tet.no/regnskap/inkasso)