There are and can be only three schools of thought on accounting firms. The first school would state the accounting in general is not as important as it is deemed to be, thus spending resources on getting the finances in order is insignificant next to the need for further business operations expansion. The second school would contradict the first in that accounting is an important part of the business cycle, but would also state that accounting should not be allowed to take the lead among the things that one does. Thus, any accounting firm handling your case should only have a limit say in your business operations, if any. The third and youngest school of thought focuses on the notion of collaboration and interdependence of all of the business elements. This school negates the unnatural separation between financial operations and control and the more creative side of things in the way a business is run. It is on this last school that this article would focus.
The classic image of an accountant with a record book, thick glasses and sleeve protectors is no longer valid. Come to a top-level accounting firm today and you will find a sophisticated business consulting team experienced in the most complex financial operations known. You will also discover that the accountants no longer count, they focus much more on making forecasts, analyzing business models, making recommendations of increasing budget efficiency, and so on. If you were to choose between the ‘classic’ accountant and an accountant relevant to the 21st century, whom would you choose?
Accounting firms today are talent hubs and think-tanks of almost infinite proportions and potential: sadly, this potential is seldom used to its maximum. The firms in step with modernity provide services in such diverse areas as family wealth, international tax, real estate, franchises, royalty and compliance services and others. Their ability to bring a lawyer or other specialist on board as needed is unmatched. The level of sophistication in seemingly completely disparate spheres makes accounting firms magnets for dynamic business activity.
Whether you are starting a new small business, manage a medium-sized company or direct the operation of a large multinational group, a healthy relationship with a professional up-to-date accounting firm is a necessity. An accessibly, flexible and focused accountant can provide your business the value-adds that one cannot find elsewhere. A good accountant’s commitment to protecting your privacy and security acts as an additional positive factor in the relationship. Should all of these features be supplemented with friendly customer service that aims at educating your and truly assisting you in every possible way, the perfect picture would be complete.
Growing businesses, dynamic organizations and focused individuals have all shown time and time again that sound financial management that does not interfere with day-to-day operations is the key to unmatched success. Teaming up with a professional accounting firm is a step that, once taken, will only bring positive results to each day and to the bottom line. Follow the lead on this one! You won’t regret it.
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