Your accountant is a key member of your team when it comes to your financial affairs. Having the right accountant on your team can greatly assist you and your business succeed.
On the flip side – the wrong accountant, and therefore the wrong advice will COST YOU A FORTUNE.
Areas that your accountant should help with, include:
1) Helping you prepare your numbers
2) Helping you know your numbers
3) Advice on financial management
4) Analysis of financial performance
5) Budgeting and Forecasting
6) Business Advice
7) Business Planning and Feasibilities
8) Tax Matters, Tax Returns and Tax Planning
9) Structuring for Asset Protection
10) Raising Funds, Cash flow management, assisting with Finance
11) Investment Strategies, Wealth Creation Plans
12) Growth Strategies for your business and Investments amongst other things.
The FACTS are:
1) There are a significant number of poor quality accountants in the market place.
Poor Advice = Poor Results
2) Many people struggle with simply getting their accountants to prepare their tax returns -
let alone provide any of the services outlined above.
3) Many accountants don’t have the experience or qualifications to provide advice.
Point is: Don’t let your accountant be an impediment to your financial growth.
Demand the best advice and support when it comes to your money matters. Find an accountant who will deliver the services you require.
What other people have said about the role of your accountant
“The relationship between a business and an accountant should be based on value, not price. A good accountant can save you money, but a poor one will cost you. Paying more for an accountant can make good financial sense.”
Sean Ayimer, BRW, Editorial: “Accountants Count”, 7 July 2010
“Great accountants can do far more than handle compliance work. With the right experience as well as qualifications, they will structure a business in the manner appropriate for its stage, and their services may range over management consulting, superannuation and personal financial advice, and general business mentoring.”
Gina McColl, BRW: “How to find a good accountant”, 7 July 2010.
“I have no use for bodyguards, but I have very specific use for two highly trained certified accountants.”
Elvis Presley
What else do you expect from your accountant?
The right accountant will:
• Go out of his/her way to give you great service and value
• Help you when you have an urgent matter
• Get you the outcomes you are after
How do you work out which is the right accountant for you?
a) Establish your needs
Before you select an accountant make sure that you are aware of your needs. Be clear about what you expect and be organised with your paper-work for the accountant.
b) Start looking for an accountant who can meet those needs
Ask for referrals from people you know and trust. Can they recommend an accountant who has provided them with great service and has demonstrated their skill and expertise in getting results?
The right accountant will not only meet your needs, he or she will exceed them and be enthusiastic and competent.
c) How much do you pay for accounting services?
Cheap is not necessarily the way to go. By all means compare prices.
Keep in mind that you are after an accountant that will get you the results that you are after. So focus on the results before focusing on the price.
Why is it important for you to find the right accountant?
Your accountant can be a valuable asset to your team and help you reach your financial goals. Your accountant can also help your business to grow and help you manage your taxation and cash flow matters.
The relationship between an accountant and a business person needs to be evolving. As the needs of a business change, a good accountant will tailor their advice to suit the particular needs of the business at the time. The right accountant will provide accurate advice and indicate when an area is outside the scope of their expertise. The right accountant will also be well-connected and may know insurance brokers, finance brokers, solicitors, liquidators, property agents, stockbrokers amongst other service providers, should you need them.
Finally don’t be afraid to change accountants if your accountant is not giving you value for money and the advice that you need.
To help you realise your financial goals, do your research, ask the right questions, understand your needs and find the right accountant.
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All the best in achieving your financial goals,
Kostas Augerinos
KAA Australia
Founder/Managing Director
