The role of accountancy in business

The role of accountancy in business

Many companies do not fully appreciate the role of qualified accountants who can play in the effective functioning of an enterprise. Many business leaders who are looking for an accounting firm cannot find one that will submit annual tax returns, for registration as a VAT payer or, in connection with any complicated case, they will not abandon what has been started and will finish the job. But in fact, in accounting, a true specialist is, first and foremost, an invaluable consultant who can help you properly manage your company’s finances. A good accountant can correctly interpret the financial and operational data of enterprises and will provide good recommendations and advice for further expansion.

These are some of the roles that he can play in business management:
Organization of activity reporting business operations in accordance with the law.
An accountant can create all kinds of financial records, regardless of size, legal form, or line of business. He is also responsible for generating standard reports required by law – for example, balance sheets, profits and losses, and others.

Compliance with laws and regulations
For those who are just starting their own business, it may be an impossible task to meet thousands of government requirements and keep accounts in terms of startups. These are all kinds of registrations, licenses, certificates, and so on. Without the help and support of someone familiar with the knowledge of the intricacies of tax legislation, a business owner can lose a lot of time, nerves and money.

Business and tax planning
In addition to preparing reports and calculating taxes and insurance, the accountant(tet) will advise the business owner on tax planning throughout the year to optimize taxes. Moreover, sometimes it may be that the state must recover the overpaid amount. But this will occur only in the presence of an orderly accounting.(https://www.tet.no/regnskap/inkasso)

The role of an accountant in business

General financial advisory services.
The role of this specialist is most important at the beginning of the year when tax planning is done. The best accountant is the one that passes annually alone to the office, and become familiar with the strategy that will apply to your company over the next 12 months. This allows you to develop mechanisms for intelligent management of the tax burden, which in a legal manner will help the company to reduce costs in the budget.(https://www.tet.no/avdelinger/kristiansand)