Chartered accountants are accountants that have undertaken some in-depth training, and they are bound by a code of ethics. They are serving the needs of businesses, not-for-profit organizations, and individuals. Here are 9 things a chartered accountant can do for you.
1. Accountancy
Of course, chartered accountants are qualified to handle accountancy. Whether you need a professional to generate new accounts for you, to take care of bookkeeping, or to prepare the financial statements of your business or organization, this is a job for a chartered accountant.
2. Cost accountancy
Chartered accountants can also provide you with cost accountancy services. Whether you are getting ready to offer a new service or to manufacture a new product, a chartered accountant can provide you with some guidance, and with cost control methods. They can also help you determine the right selling price.
3. Taxation
Whether you are a business owner or an individual, tax compliance is something you have to take very seriously. Fortunately, chartered accountants are there to help you out when it comes to tax compliance, tax planning, tax assessment, and much more. You don’t have to do it all on your own.
4. Auditing
Chartered accountants are also the ones taking care of compliance audits. Through auditing, chartered accountants are able to figure out if the financial statements and financial accounts of a business are meeting all the necessary requirements and criteria. Only chartered accountants have the right training and skills to do this.
5. Investigation
When businesses want to understand why their profits fluctuate, or when they need to find new ways to become more efficient, they can ask a chartered accountant to perform an investigation of their financial status. The results of this investigation should help them take important decisions.
6. Business advisory
Similar to a financial status investigation, the business advisory services provided by a chartered accountant help identify the success factors and the weaknesses of a business, so different suggestions can be presented. Business advisory services can also be provided to start-ups, to help them get started on the right foot.
7. Determining payrolls
Chartered accountants are also available to help you determine your payroll requirements, and to prepare and process these payrolls. By trusting a chartered accountant to take care of your payrolls, you will have the peace of mind of knowing that everything has been done properly by a trained professional.
8. Implementation of procedures
If you need to implement new accounting procedures and new accounting control procedures, speak with a chartered accountant. They will take care of establishing, maintaining and coordinating this implementation, so you won’t have to figure out how you could efficiently do it on your own.
9. Personal financial planning
If you need some help to manage your personal finances, a chartered accountant can provide you with many helpful financial planning services. Don’t hesitate to discuss investments, tax and estate planning, pensions and retirement planning, and personal insurance with a chartered accountant.
