Consultants & Agencies

Consultants & Agencies

Different Types Of Accountants

The world is in need of different skills to cater to creative and demanding pressure and needs of companies and societies. When it comes to skills and knowledge, the deeper you get in to a certain subject the more it divides. The same goes to accounting. The deeper the study of it goes the more it divides. Looking at the world today how much it has studied all subjects, we have now different specialized jobs in the same industry. This has born several types of accountants. Let us take a look at the different type at a glance.

Auditors – it is an intensive study of the records ad accounts of the company’s reports. They ensure that all financial reports are accurate and they confirm to the public that everything is in order. Companies that require revealing their financial report to their shareholder must make sure the accounts are audited before it is done. In short they verify if the reports are true and accurate. Normal accountant is someone who does bookkeeping services in Sydney and other general accounting activities. He works at an accounting firm or works in house for companies.

Some of them are specialized in computer related accounts that are sometime called XERO accountants. The major activities they carry out are consultation, financial planning and tax. Speaking about tax there tax professional who specialize in handling and analyzing tax. They help both companies and governments to ascertain the right amount of tax to be paid by any company.

Then there comes advisors who provide critical advice on investments and other financial planning for the company. They sometimes provide advice to individuals and even the government at times. Their basic aim is to guide and advice individuals or companies to make the current financial status better.

There is another type of accountant called forensic accountant. He is mostly involved in auditing, accounting and legal matters. They are basically investigators of finance. They assist investigations and court matters in helping providing evidence and analyzing if the evidence given are correct. Most white collar crimes go through them such as financial fraud and bankruptcy.
Accounting consultancy is almost like advisors but they have high subject expertise to help out with the financial planning and reports. They analyze and interpret financial statements and makes sure the company understands what their financial situation is. Consultants have the ability to help a company with all their financial needs.

There are several divisions when it comes to accounting. If you are into crime and accounting, you can follow forensic accounts. Likewise, in other industries there ways in which you can combine your interest and your knowledge together, this is the perfect combination.

Starting A Company Of Your Own

If you have been thinking of starting a small business of your own but you are worried about doing so, you should not be because starting a business in this day and age is easier than ever and there are many ways in which you can start a business with a minimal risk unlike in the past when starting a business or a company meant spending your entire savings on a primary investment. This said however, it is vital that you do not rush in to anything without planning it out in detail because irrespective of the size of the risk, you do not want your business to fail. You have no doubt heard that most startup businesses tend to fail and this can be something that deters young potential entrepreneurs from achieving their dreams but the truth is that the only reason that they fail is because of lack of planning and therefore, you can prevent your potential business from ending up like that by simply taking the time plan your business well.

Keeping of the books

One of the biggest mistakes that new business owners make is that they neglect to keep strict accounts of the business causing them to fail. Another thing that could happen is that you could get in to trouble with the government due to lack of proper accounts because you are liable to pay taxes on the monies that you earn after you hit a certain amount of profit. Therefore, you will need to have an accountant working for your new company either full time or even on a freelance basis to help you to keep your accounts in order if you do not have much knowledge on the subject yourself.

You might be able to hire a business accountant who works freelance and will only charge you by the hour for the work that they do. As you are a small company with minimal transactions, a visit once a week or twice at the most should be more than enough to keep your books in order.

Minimal expenses

It would be advisable for you to try to minimize your expenses as much as possible in the first six to eight months of your business because there is no guarantee that you will be making profits in these first months. You can minimize your expenses by running your business from your home or online instead of hiring an office for example. You can also put in extra hours to avoid hiring someone to work for you in those first months.