As the owner of a business, you know and understand what direction you’d like your business to go in and no-one else will know that better than you. You will have put much thought and preparation into where you are today and these steps shouldn’t stop when it comes to your accounts.
It’s always a good idea to get financial advice when it comes to your business finances and making key decisions. However, ensure that you’re getting your financial advice from someone who is qualified to do so!
What is a Chartered Management accountant?
By law anyone can call themselves an Accountant but a Chartered Management Accountant has had to go through much more education, completing above degree-level with rigorous examinations and a minimum of three years in-depth training in a variety of financial areas to get where they are. Chartered Management Accountants work in every part of the economy, providing advice and expertise to the management of each business. Often you’ll find Chartered Management accountants working in a commercial capacity, such as larger non-profit organisations, corporations and the commerce or industrial sector.
All accountants are subject to the same laws, whether qualified or not however Chartered Management Accountants are bound by the CIMA code of ethics which of course ensures that guidelines are adhered to and gives peace of mind to the business using the accountant. This also helps in developing standards in accounting and auditing and continued development opportunities for all its members.
Chartered Management Accountants can provide a range of services including management accounts, forensic accounting, bookkeeping, statutory accounts and payroll services.
Using a Chartered Management accountant will give you peace of mind if you have more complex financial matters, having the assurance that they will be dealt with competently.
How to choose the right accountant
Choosing the right accountant for your business can be a hard decision and can be like choosing a business partner. Your accountant will become a trusted part of your business and will be someone who you can rely on, depend on and know that you can go to for advice. As your business grows and your business demands more, working with the right accountancy firm in the first place will stand you in good stead with business growth.
With today’s cloud computing, having an accountant nearby is not necessarily a necessity. Being able to collaborate in real-time, 24 hours a day is a great move forward for the accounting industry and can save a great deal of time.
The decision of who to take on as your company accountant really comes down to preference and compatibility so make sure that you ask any important questions when you enquire with an accountancy firm.
Here at Kara Accountants, you can be assured that your financial affairs are in excellent hands. We are registered Chartered Management Accountants, providing a wide range of services that can help support your business along with giving you a financial sounding board when you need it.
If you’d like to discuss your business accounting options, please get in touch and speak with our friendly team.