| The world's most successful companies have | | | | of managing your company's tax structure and |
| hundreds of accountants and chartered financial | | | | liabilities. He will be in a better position to tell you |
| analysts working in their accounts departments. | | | | which expenses can lead to more tax savings for |
| Isn't that reason enough why your company | | | | the company and its employees; apart from |
| needs an accountant too, if not an entire | | | | advising you on whom to levy certain commercial |
| accounts team / department? Well, the answer is | | | | taxes on, and in what circumstances. |
| no. There's more to it than just following the | | | | Also, while making certain big purchases like |
| global business leaders. However, your company | | | | commercial property or media time and space, an |
| needs an accountant, and here's why. | | | | accountant will probably be in the best position to |
| Your business runs with the motive to earn | | | | help you setup step-by-step procedures. You |
| money, and you need to keep the cash flowing in | | | | might want to pay fairly to your employees, but |
| and out to keep your business alive. A lot of | | | | can your company afford it while it isn't making |
| transactions happen on a daily basis in your | | | | enough profits? Not sure? Talk to your company's |
| company. An accountant helps keep track of | | | | accountant. He will help you fix a viable pay |
| them all, even if the transaction was worth just a | | | | structure. |
| cent. Your earnings, savings, expenditure and | | | | If your company hasn't hit the breakeven point in |
| other monetary transactions, and their details are | | | | business yet, an accountant, in coordination with a |
| recorded by an accountant. Hence, in order to | | | | Finance Manager, can assist you in formulating |
| know where your business would stand after a | | | | financial time-lines, which will help you forecast (to |
| year, it's advisable that you hire an accountant | | | | a great extent) what you would be doing after a |
| today. | | | | year. |
| While you might say that you're good at | | | | If you can't afford an accountant on a full time |
| accounting and/or have computer software to | | | | basis as an employee consider hiring an accounting |
| help manage company accounts, the big question | | | | firm. The firm can provide advice on an hourly |
| is - is that what you specialize in? If you're reading | | | | basis. The per hour fee will be much higher than |
| this page, then chances are high that you're not. | | | | what you would pay an employee but you will |
| You sure know to manage and promote your | | | | only have to pay for a specified number of hours. |
| business and its products / services well, but it | | | | The accounting firm can oversee your accounting |
| becomes very difficult to keep track of all the | | | | system, answer questions, prepare your tax |
| transactions besides handling other business | | | | documents, and provide advice. |
| activities. | | | | Interview the accountant or accounting firm so |
| An accountant is an expert in dealing with money | | | | you're comfortable with their experience level and |
| and recording what a company does with it. With | | | | personality. Check references and talk to previous |
| that said, the accountant, or a chartered | | | | clients. Hiring an accountant or accounting firm is |
| accountant, sometimes called a Certified Public | | | | an important step for your business. |
| Accountant (CPA)comes with sufficient knowledge | | | | |