The role of the chartered accountant: a valuable aid to business management

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At all stages of your company’s life, calling on an accountant is a real added value. A true partner of business leaders, he takes care of much more than the accounting of an SME. Present both for business creation, for the establishment of annual accounts, or the optimization of tax declarations, it helps you to make the right decisions for the management of your business.

Its role is twofold: it is located in consulting expertise but also in forecasting. Initially, he advises so that the economic result is real. After a positive result is obtained, he is also present to give tax advice, to legally reduce the tax base. Then, thanks to projections made with the entrepreneur, the chartered accountant anticipates the result for the period. So, if the information is known, the decisions are relevant and take into account the circumstances.

Through his personalized advice, perfectly adjusted to the needs of the entrepreneur, the chartered accountant is a real investment. His fees are largely offset by his precious strategic advice and much more…

Concretely what are the expertise missions of an accounting firm?

Accounting: analysis of the profitability of your activities

As an entrepreneur, the profitability of your business is at the heart of all your concerns. And it’s quite normal. Good accounting management is therefore essential to guarantee the health of your activity. Throughout their annual mission, your accounting and financial advisor can perform various profitability analyzes.

  • For example, if you are the manager of several stores and you want to determine the profitability of each of them, he can set up a profitability analysis structure allowing you to identify the result of each store. Better yet, he can detail this result by the department for each establishment.
  • Let’s take another example. A loss appears on the balance sheet and you want to understand how to rectify the situation to become profitable again: a horizontal and vertical analysis makes it possible to set up performance indicators, to follow the payment period of customers, to manage the stock by shortening the rotation and improve the financial situation.

Tax advice: tax economics and tax optimization

Another crucial mission is none other than tax expertise. Tax laws are numerous and constantly evolving. Their impact on the management of your company’s assets is undeniable, however. Hence the importance of being well advised.

  • For example, if a company owns the usufruct of a building whose partners wish to carry out the renovation and this usufruct is almost completed (less than 5 years), an expert firm can set up a solution allowing the financing is carried out by the company, without there being any negative impact on the partners who would soon recover full ownership of the property.
  • Another example of intervention: during a tax audit, the controller establishes an indexation situation (comparison of income and expenses for the same year) and claims an amount of undeclared turnover of several tens of thousands of euros… The tax expert can quickly check the accuracy of this correction and highlight a possible reasoning error on the part of the controller.

Monitoring and support in all legal accounting obligations

Because the laws governing corporate accounting and taxation evolve each year, the chartered accountant must keep abreast of each of these evolutions. It is this increased knowledge of the law and management tools that will allow him to offer real accounting monitoring to his clients.

  • For example, when setting up a business, you need to draw up a detailed business plan, contact the notary, carry out a whole series of registrations, collect data to be transmitted to the administration, etc. An accounting firm can assist you as soon as possible. the very first moments, when the project is still in the “dream” state, until the moment when the activity is organized and structured. He can contact the notary so that a first draft of the deed can be developed, reread this project and specify one or the other point, organize the timing from the start until the company is in order, and works with the issuance of its first invoices…
  • For a project leader who wishes to start an activity but who does not know the daily management of a company nor all the administrative and/or legal obligations as well as the terms and deadlines, the accountant Perth takes care to inform him of his annual obligations. At each approaching deadline, he contacts the contractor to prepare the latter. The objective? Guarantee customers never to suffer the penalties and financial inconvenience of late payment.

Bufiscom, your custom accounting firm

Through personalized advice and analysis, the accountant firm in Perth Bufiscom supports you in each of your financial procedures. True ally of your economic growth, our accounting team ensures the regularity of your legal accounting obligations and advises you in all your important financial decisions. Thanks to a tailor-made accounting follow-up, we allow you to enter all your tax declarations on time.