Assessing your relationship with your accountant
Whilst the majority of accountants share very similar skills and expertise, it is the way they do business that differentiates some professionals, making them stand out head and shoulders above the rest.
The right accountant will deliver excellent customer service and all of those little extras that can make such a massive difference to the profitability of your business and its future success.
A proactive accountant will communicate with you on a regular basis and remain involved with your business to help you to make sure that financial difficulties are avoided in the first place.
Remaining involved and communicating effectively is essential, because you need an accountant who actually understands your business. This understanding gives your accountant the insight to provide the best possible advice on the key financial decisions you make throughout the year.
Helping your business to grow
An accountant will keep an accurate set of accounts and complete your tax return in a timely manner, but a great accountant will additionally provide you with a wealth of ideas to help you grow your business and run it in a more profitable way, increasing your cash flow whilst protecting your assets.
Talking of profits...
All business owners understandably wish to retain as much of their hard-earned profits as possible and a good accountant will explore all possible courses of action, to help you to do just that. Structuring and running your business in the most tax efficient way will ensure that you save money.
Breaking up is hard to do
If you feel that your relationship with your current accountant may be holding you and your business back, perhaps it may be time to move on.
Ending a professional relationship can feel incredibly awkward and daunting, particularly longstanding ones with a professional who is privy to a great deal of your personal information, but nonetheless, it is important to assess this crucial relationship and take action if necessary.
Sometimes after many years working with the same professional you will realise that your needs have changed and it is simply time to move on.
If you’re uncomfortable breaking up, let us do it for you!
What to look out for
When searching for a new accountant, take the time to find someone you can feel comfortable working with and make sure they really ‘get’ you and your business. Another great tip is to avoid accountants who seem to be unable to explain financial topics in a jargon free, accessible way.
Finding a professional who can explain things to you in plain English rather than overloading you with confusing financial jargon will give you a greater understanding of your finances. In the long term, this will prove to be invaluable in helping you to manage your own business more effectively.
At Argyle Professionals, we take great pride in building relationships and supporting all of our clients with a proactive approach. We emphasise the importance of working together to achieve your business goals. Oh, we also speak in plain English!
Why a Chartered Accountant
Make the right choice and entrust your business to a CHARTERED ACCOUNTANT
In Australia anyone can call themselves an ‘’accountant”! This does not ensure that they know what they are doing.
Ensure that you check the qualifications of your proposed accountant. Look for the CA designation.
Chartered Accountants are the world leaders in accountancy, taxation and business. In a complex global economy, talented, ethical and committed professionals have never been more highly valued.
Engaging a Chartered Accountant ensures the following:
Your CA accounting adviser:
Has received the highest level of academic and practical experience available to an accountant in Australia, recognised on the world stage;
Is bound by professional standards to ensure that their education is kept up to date with strict standards of continuing professional education required in order to continue to be a Chartered Accountant and must adhere to a strict Code of Ethical and Professional Standards to ensure that your best interests are cared for;
Is more than just a number “cruncher”. They are advisers who are able to provide you and your business with strategic planning advice, succession and estate planning advice.