Going by the definition, an accountant is an individual who is qualified and trained to competently handle the maintenance, analysis and preparation of accounts as well as bookkeeping. Preparation of annual reports and financial statements in order to make decisions and plan for the development of business, along with advice on prospective investments and tax laws, are some more the works of accountants like Bharti Jogia Sattar.
Some of you may have the question as to whether it is possible for the owner of a company to maintain the accounts all by himself/herself. Well the answer to it is that, unless you are an accountant yourself and know all the rules and regulations pertaining to the subject, you will not be able to perform the same functions as a professional accountant.
The Quintessential Role An Accountant Plays For Your Company- Bharti Jogia Sattar
Bharti Jogia Sattar emphasizes in her blog that an accountant is an integral part of a company who is completely responsible in handling the financial affairs of the company. The financial difficulties, in case any company faces them, is handled by following the advice of the accountant. Years of experience as an accountant has enabled Bharti Jogia Sattar to be able to define the benefits that can be enjoyed on hiring an efficient accountant.
One of the most beneficial things on recruiting an accountant is saving time; while you would be struggling to gather all the financial data and analyzing them, a professional accountant will do so in no time, as she/he knows exactly where to look for them. You could utilize this time and dedicate it into developing and marketing of your business greatly.
The saving of resources, particularly money, is another major benefit of hiring an accountant, because she/ he is well aware of the market trends and rates and will be able to guide you in making the best deals at the least expenses. You could again make use of this money in expanding your products and services.
Often understanding the legal aspects of carrying out a business seems to be a hectic thing for any lay person, but for an accountant, it is something that is there at the back of his/her hand. This helps you to avoid unnecessary hassles pertaining to taxes, which is are in most cases time bound. In addition to this, the accountant will also know the ways in which to minimize your tax amounts.
The cash inflow and outflow can thus be easily monitored and handled with the guidance of the accountant. All your losses and profits are maintained as record by the accountant which you can later use as reference to make progress in business. They are excellent catalysts for accelerating the progress of your company by their invaluable analysis of the track record of your own business, and taking the right decisions, thereby minimizing risks and losses.
But what must be remembered while hiring an accountant is that you go through the professional history and portfolio of quite a few of them instead of just finalizing on one, based on someone’s suggestion.