Someone Who Solves Problems You Didn’t Know You Had

Many people probably do not have a complete understanding of what an accountant actually does, or how exactly it will benefit you and your small business. Accounting, simply put, is the language of business, and every company needs someone who can speak it. If your business does not communicate your financial position or potential to your team and any other parties involved, then you might as well be speaking Swahili. The joke is that an accountant is somebody who solves problems you did not know you had in a way you can not understand. For the most part, this humorous statement is true. Unless you have an accountant who cares enough to teach you.

Accountants can determine the exact financial position you are in, as well as help you prepare the proper financial documents which benefit those who use them. For small businesses, the key users of financial statements are the immediate small business team, the banks, and most definitely the tax man. Accountants which hold designations are qualified standing members in professional associations. They follow a code of conduct. In Kelowna, British Columbia (B.C.), these professional associations are the Chartered Accountants, the Certified Management Accountants, and the Certified General Accountants. Chartered Accountants apply the rules effectively and understanding all of the implications of judgement based decisions in financial statement preparation. They do so in accordance with changing policies which is what puts Chartered Accountants at the forefront of financial smarts.

Accounting makes your team stronger. Proper accounting facilitates clear internal assessment and communication. It creates an understanding of current and future business implications. Small businesses which have a well founded understanding of their financial position achieve strategic superiority Although any business is comprised of many different components, a business is one entity, and any entity that does not completely integrate and understand its current situation is sure to fail.

Accountants, on the surface, are number people, but that does not mean they are just business mathematicians. There is much more than mere bookkeeping going on behind the numbers, accountants collect all of the relevant information, categorize the accounts, and synthesize that data to determine how your reports will be best presented in a meaningful and timely manner.

Kelowna’s Chartered Accountant Dome Duong knows that accounting is hugely significant in establishing effective business strategies. More than simple math, effectively using judgement requires experience and understanding. Put what matters to you in good hands. Dome Duong CA, Kelowna, British Columbia, Canada.

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