Why Do I Find Audit Exciting?

It is very important for you to understand the role accountants play in the success of today?s small business ?

Unless you happen to be an expert on accounting, tax and finance, you need an accountant.

A professional accountant is well trained and should be able to help you save money as well as add value to your starting or existing business.

If you have not yet set up your business, find out the role accountants play and endeavor to talk to an accountant before you start. This site is built and managed by professional business accountants who are here to offer you free expert advise, especially if you cant afford a CPA.

Value Addition

All businesses have to produce annual accounts for the tax inspector.

The sole traders, partnerships and most small limited companies can prepare these themselves.

Most jurisdictions have a threshold or guidelines for which kind of business qualifies for audit exemption, and here the role accountants play in advising you about compliance can not be overlooked.

Larger limited companies also referred to as PLCs must by most jurisdictions produce fully audited accounts.

Latest international accounting standards are flexing to equip professional accountants with skills to develop specialized audit reports that will enable small business enterprises perform better.

Whatever form your business is going to take, business accountants can offer you a range of valuable services.

They can advise you on how to start your business. What form your business should take ? sole trader, partnership, limited liability partnership or limited company.
The role accountants play involves assisting with your business plan.
Assist you with the Legal and tax aspects of registering your new small business.

Professional accountants will provide all the accounting and book-keeping expertise you need including :

They are equipped to provide you with a range of tax solutions.

The role accountants play can include advising on your management information systems.

They will help set up simplified systems that can enable you run your business smoothly and profitably. They will among others do:

They can give you general financial advice.

The role accountants play when you want to make a decision to buy or sell a business are critical.

This involves: Investigating the books of a business you are thinking of buying.
Carrying out a due diligence on your target business.
Advising you on the market value of your target business.
Advising you on how to defend your growing business from an unwanted acquisition.
Assisting you in business negotiations.

They can also help you with advice and guidance on questions of personal finance.

These might include: Tax planning.
Advice on inheritance tax, the financial aspects of wills, and so on.
Advising on cost friendly home loan options and so on

The role accountants play towards the success of your small business or personal financial planning can only be compared to a doctor patient relation ship.

Always endeavor to contact your CPA before taking key business decisions or contact us, for online support .