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0 Making sure that money is managed correctly within any organisation is often key to success. Cash is king and it is not simply a matter of selling a lot of goods or services. It is here that an accountant can offer real money-saving opportunities.
The role of the accountant
Accountants or Stroud business advisory services, such as those offered by www.randall-payne.co.uk/services/accountancy/stroud-accountants, can be a fundamental part of success for any business.
Firstly, an accountant will make sure you are up to date with your records. This is important, but the information provided can be so much more effective. By engaging with a qualified chartered organisation such as those accredited by the ACCA, multiple services are provided to help save money.
Secondly, up-to-date, accurate financial records can lead to better decision-making. If a business owner knows exactly where the money is coming from and where it is being spent, then they can make much better decisions. If, for example, one product looks like it is selling well but is not actually making a profit, then should attention be diverted elsewhere?
Ways to make the most of your accountant
An accountant can be a valuable resource and take on many of the activities that would otherwise take up a great deal of time away from the management. Identifying the tasks that can be outsourced is a great way of making the most of an accountant.
As well as task outsourcing, there are a range of business analysis techniques that an accountant can use. So, meet with your accountant regularly, talk through future plans and make sure that you obtain all management accounts that are available to support your decision-making. Communication and open flow of data is critical and you are a big part of that!
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