A Closer Look into Different Services a Certified Accountant Provides
Do I really need a certified accountant (CA)? What type of services a CA provides? If you are looking for answers to these questions then you have come to right place since this is the topic we will be exploring in the following sections and go through details of few of the important tasks a CA performs to ensure your business continue to function smoothly.
An Insight into Services a Certified Accountant Provides
• Accounting Responsibilities
• Auditing Responsibilities
• Specialize Services
• Business Advisory
The main services provided by a certified accountant (CA) consists of managing accounting as well as auditing for your business. As such, your CA will be responsible for:
• Producing financial records
• Tracking your expenditures and revenues
• Providing advice on financial health of your business
Additionally, CA will also be able to assist you with long term planning, as for instance, if you are planning to purchase property or upgrade infrastructure then advice provided by a certified accountant can prove to be quite helpful. Advice provided by a CA can help you understand what steps you need to take to break even and also develop a clear idea about your firm's cash flow requirements. Moreover, useful inputs provided by a CA can assist you in analyzing whether your company is earning profits and what steps are to be taken for improving growth of your business.
In case your business needs periodic audit (such as, when investors require such audit or when it is part of the bylaws) then services of a certified accountant will prove to be quite valuable.
Apart from analysis of financial records, a CA will also examine various controls as well as processes to make sure accounting records are managed in right manner and policies are being followed.
All these activities will be performed to ensure the tasks a company is performing will help in accomplishment of business goals.
A proper audit will also help you in examining whether financial statements provide a clear picture of your business and have been developed by following relevant accounting principles and procedures.
A certified accountant has required competency to provide specialized services such as business valuation. Such business valuation can be very helpful in case you are looking into sale, acquisition or a merger.In addition to it, a CA can also perform forensic accounting in case a legal dispute arises or if you have detected some financial fraud in your organization.
A CA can act as business advisory for your organization and assist you in:
• Evaluation of present business operations
• Creation of business plan
• Identification of new opportunities
• Understanding changes taking place in regulatory environment
• Taking productive financial decisions
• Comprehending how business operations can be performed in a more efficient manner
From above details it is quite clear that a certified accountant can perform a range of activities to ensure your business operates successfully and has to face the least number of bottlenecks.