The unique services a Chartered Accountant can offer
Chartered Accountants are professionals who work in various sectors of the economy, assisting individuals, businesses and government clients with complex accounting situations. They provide more than just calculating tax services; they are professionals who specialise in financial advice, assistance with business structuring and a dynamic range of accounting services.
Here are the unique services a Chartered Accountant can offer.
Basic accounting services
A Chartered Accountant is well equipped with providing basic accounting services, such as writing up of accounts and the preparation of financial statements. Their expertise encompasses a wide area, ranging from simple bookkeeping to complex financial analysis.
Auditing is one of the most important functions of a Chartered Accountant due to the specialised training a Chartered Accountant will have received. This gives them the expertise, skill and judgement to evaluate relevant accounting systems for any weaknesses, monitor internal control to determine the degree of organisational fraud risk and survey unusual trends in financial data.
Chartered Accountants are highly experienced in calculating tax, tax accounting services and, more crucially, in evaluating complicated cases that have large revenue potential.
Financial accounting, financial advice & financial planning
A Chartered Accountant professional is often needed to provide vital financial accounting services and to investigate the financial position of businesses. They are highly experienced in offering financial advice and financial planning matters such as purchase or sale, share capital, mergers, reconstruction and financing a business.
Management accounting concerns the formulation of policies, performance evaluations and the day-to-day control accounting activities. Chartered Accountants can provide a high level of management techniques that are needed to successfully drive a business.
Executor of Will
A Chartered Accountant is also often appointed as an Executor of Will to professionally carry out the administration of an estate or settlements. They will typically work alongside a solicitor or lawyer – conversely, solicitors or lawyers who are carrying out Executor of Will duties will usually employ a Chartered Accountant to assist with accounting aspects of their work.
Chartered Accountants undertake the valuation of shares for both private and public companies in the event of a takeover or acquisition. They play a major role in assisting organisations to effectively utilise resources to increase efficiency and reaching targeted financial goals and objectives.
A Chartered Accountant also specialises in ascertaining the costs of production and processes at different levels of operations – particularly in the manufacture of a product and rendering of a service. They can also provide costing information such as establishing appropriate selling prices.
Additional specialised company work
The specialist financial accounting and management accounting skills and services a Chartered Accountant can offer are frequently sought to assist in matters such as the formation, financial structure and liquidation of limited companies.
Many major companies also recognise the advantages of having a Chartered Accountant on their Board of Directors with many professionals who hold senior Directorship positions being Chartered Accountants. Alternatively, Chartered Accountants often perform secretarial work.
BMR Business Solutions are a Chartered Accountant firm, assisting Brisbane businesses with a range of specialised services. Contact us today on 07 3353 7111 to discuss how we can assist with the operations and growth of your business.