Choosing the right accountant

Tax Return: Investment
December 15, 2018
Investment Tax Issues
January 29, 2019

When it comes to finances, it is always better to have a second opinion from a specialist. A great accountant provides more than balance sheets for the company as s/he can make a plethora of opportunities available for the company. 

Choosing the right accountant is mandatory because it is not possible for one accountant to be able to maintain the same level of ingenuity in all the different sectors of an economy. Some accountants are proficient at handling a company in the service industry, while others are better equipped at handling a company in the manufacturing industry. 

Run a background check. Use social media sites like LinkedIn to check if s/he is part of the right circles or if s/he is connected to influencers in the industry. Also, run a check with friends via word of mouth to make sure s/he is well suited for the task.

Past experience. The clientele of any accountant can show how well suited s/he is to handle your company and if he has handled bigger companies. If so, he will be able to meet well with your growing needs and is experienced with important financial decisions. 

Interest. Does he show interest in his job? Does he take his job seriously? What is his area of interest? 

Cost awareness. What are the hidden costs of the company? What are the main generators of cost? A great accountant is able to answer all these questions. Sometimes, it so happens that even though sales of a company rise exponentially, the profits stay flat because the management is not fully aware of the hidden costs. A great accountant can avoid all the confusion by identifying the factors that affect cost.

Strategic planning. Running a successful business is not all about racking up the numbers. It is also about changing with the market to adjust with the new needs and making decisions based on partial information. The right accountant can tell you exactly how much risk the company is prepared to take when planning out a new strategy. 

An accountant knows of the finances of the company as a whole which is very sensitive information. Thus, it is important that the responsibility goes into capable hands. If you need further assistance with choosing an accountant for your small business, contact us at 1300 300 106 to have a conversation.