Entrepreneurs Brief Guide

“How to Hire the Right Accountant”

Dr Jim Porter

In the business world where we are dealing with money, money and lots of money, it is imperative to have the right accountant doing this job for you. Hence, if you aren’t an expert at accounting, it would make sense to hire an accountant; someone who can save more time and money for your business.

In 30 minutes, learn how to:

Appreciate the importance of an Accountant

Begin your search for an Accountant

Short list an Accountant

Copyright

How to Hire the Right Accountant

Dr Jim Porter

.

Revision: SW1.004.001

Copyright © 2011 – All Rights Reserved.

Smashwords Edition

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ISBN: 978-1-4659-2710-1
Publisher: Smashwords, Inc.

If you are thinking of setting up your own business, then it is important to at least consult with an accountant beforehand. Start ups and small business regularly need financial advice therefore, selecting the right accountant can mean the difference between success and failure for the firm.

This article will inform you about:

The importance of having Accountants in an organisation.

How to look around for the right Accountant.

The process of short listing and meeting your accountancy firms and explaining your business to them.

How the fees will be charged and negotiating the amount.

How accountants can help

No matter what form your business is planning to take, accountants can offer you a wide variety of services:

When starting a business, accountants can advise you on which form your business should take, such as sole proprietorship, partnership, limited company etc.

For start-ups, accountants can assist you with your business plan and to registering the business.

Accountants can provide you with general financial advice and break-down accounting terminology for you so it is easier for you to understand the processes.

Try to get as much advice from them as you can before you begin trading so that everything is in place and you don’t have to suffer any setbacks or delays.

Unless you are self-employed or a member of a partnership where you can produce your own documents, you are going to need an accountant to produce your annual accounts to show it to the authorities such as the inland revenue.

Accountants can provide you with all the book keeping and accounting expertise you require to manage your daily finances.

They also prepare various financial statements based on your business’ performance which helps you to assess the growth of your business.

They can also provide you with a number of tax services such as planning and calculating your taxes.

Accountants can advise you on various management information systems for your business.

They can help by introducing you to various sources of finance and ensuring that you make a decent case for them.

Apart from your business’ finance, accountants can also help and guide you with your personal finances.

Remember, if you prefer, you could do some of this work yourself. However, many businesses prefer to hire an accountant for at least some of it. Weigh up factors such as time, cost and know-how.

How to begin your search for the right accountant

The following are some ways to look around for an ideal accountant for your organisation: