Role of accounting and the accountant

The finance industry comprises of one of the most detailed and diverse roles, i.e., accountancy, and hence the need of a competent accountant to manage such a significant and detailed part of any business.

The role of an accountant comprises of advising clients with their financial expenses in terms of taxes, profit/loss records, annual progress records, etc. with unbiased information and within legality of the associated authorities. They need to ascertain that their advice follows the limitations and boundaries of the government policies and framework depending upon the type and industry of business. Once a business appoints its accountant, he/she plays a crucial role in performing financial functions related to collecting, bookkeeping, analyzing, presenting and even forecasting accurate financial information related to the operations of the firm.

At BookSmart Accountants, we help you save your business, time and money as we provide our clients tax-planning strategies, budget forecasting, setting up of goals, etc. We provide high-quality professional tax accounting and bookkeeping services to ensure that you focus on other aspects of growing your business and leave your financial worries upon us. Our job role includes but not limited to:

• Preparing budgets and implementing cost saving strategies
• Analyzing profit/loss incurred by the business over a selected period of time and producing statements to record this information from time to time
• Preparing and filing tax returns at the end of each financial year along with providing recommendations on maximum tax savings
• Managing bookkeeping and accounting practices and maintaining procedures for accounting

Fur such an imperative aspect within an organization, the risk of hampering with large information associated with financial operations can be significantly high and must be taken care of. Due to these crucial tasks, it is evident that every business, be it small scale or large scale, requires an accountant to manage these financial decisions and information. In case of specific requirements such as tax management, one can even choose to appoint a tax agent who would support all queries related to filing taxes and minimizing these taxes as most business-owners pay higher taxes than they are meant to.

We can help you with all your tax related enquiries and can support your business by providing accounting and bookkeeping services. We provide taxation, accounting, compliance, auditing services to public and private businesses as well as individuals located in Melbourne, Australia

Our range of business accounting services includes:

• Structural business advice
• Tax planning
• Tax return preparation
• Corporate secretarial services
• ATO negotiations
• Audit consultation
• Accounting and bookkeeping services
• Compliance planning and management
• Cash-flow
• Performance monitoring
• Business health assessments
• State tax matters
• Payroll taxes
• Financial statement preparation
• Budgeting advice and forecasting
• Management accounting

Contact us at 1300 664 796 or visit our offices located in and around Melbourne to talk to our professionals. We also offer after-hour appointments suited to your convenience.