Importance of an accountant, company, success of a business, team member, business adviser, combat failure
Companies are prone to failure. Due to the vulnerability of failure, most companies take several precautions to prevent collapse. One of the most important actions a company can take to combat failure is arranging a team that will ensure success. If appropriately assembled, the team will certify success by increasing efficiency and providing suitable support for growth of the business. An account is one of the most important components of the team. Accountants provide multiple elements that are critical to the success of a business.
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[...] (Gouws and Terblanche) There are also public accountants and government accountants. To become an accountant a bachelor's degree and a certification is required. (Gouws and Terblanche) Several positions are similar to accountants. Book keepers and auditors are examples. However, these positions do not have the credibility of an accountant. They only require a high school diploma. Budget analysts, cost estimators, and financial advisors are also dispensable positions. With an accountant, all of the previously mentioned positions are combined in one. [...]
[...] This is especially true for financial decisions. Accountants help prevent the owner from making severe financial mistakes by providing counsel. Issues may regard a variety of financial topics such as liquidity planning, profitable pricing models, financial forecasting, ta issues, and investment decisions. (Ross and Wegman) There are several additional qualities a business needs and accountants possess. Accountants deal with financial facts regarding the business. They are able to give the owner relevant information to the market of the business. On a more broad scale, the accountant is able to deliver relevant information regarding the economy. [...]
[...] This is an important ability for any successful business. It is also directly associated with the credibility of a company. Reputable banks do not finance companies without reviewing a company's financial records. Statements that resemble the work of an amateur would deter any angel investor or venture capitalist. An accountant can present the company's records in a professional manner and prevent the loss of potential fundraising. (Ross and Wegman) Maybe the most important contribution of an accountant is the ability to handle tax related issues for a company. [...]
[...] Accountants can assist with the hard decisions that regard finances. Accountants listen to the apprehensions of business owners in confidence. They convey trustworthy professional opinions and provide criticism that is impartial. Accounts provide integrity, reliability, and trust. Additionally, the accountant acts as a liaison for the company. The health of the business is monitored by the accountant. The accountant's duty is to routinely check the pulse of the company. One of the primary roles taken on by the accountant is to confirm the cash flows are sufficient. [...]
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