Why Most Accountants Are Not Equipped To Give Profit Or Business Growth Advice

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There are book accountants and there are Chartered Accountants who are Profit First Certified.

The latter is me, Annette Ferguson – Chartered Accountant and Profit First Certified Professional.

 

There is a big misconception surrounding an accountant’s work. Yes, traditional accountants are meant to help you stay on top of your balances. They help you make sense of your financial books and make sure that every expense paid and income received has been taken into precise account. But more than balancing and payroll, some accountants serve more prominent roles than others.

 

With that said, if you are currently facing sensitive and crucial accounting issues, you may need more help than what your everyday accountant can provide, especially when you feel that the error or fault is stemming from the accounting records in the first place.

 

Aside from having an internal auditor, you must implore the help of a third-party accounting firm to review your business transactions and records for the year. Not only does this help make your accounts fluid and secure, but it can also help highlight some issues surrounding your current process in business. In short, you can gain new insights and information about your business when you consult a specialized accountant for advice.

 

In this case, a chartered accountant would fill the role just right.

 

What Does A Chartered Accountant Do?

 

Chartered Accountants or CAs are equivalent to CPAs (Certified Public Accountant) of the United States. There are many professionals granted this designation globally, and it is recorded that Chartered Accountants are the first group to form a professional body in Accountancy back in 1854, Scotland.

 

Anyone can assume the role of an accountant regardless of educational background given proper training. However, a CA is someone who is recognized by the Institute of Chartered Accountants or the Association of Chartered Certified Accountants. In other words, CAs are licensed accountants recognized internationally.

 

The licensed accounting professionals have expertise on creating and interpreting financial reports, audit accounts, and giving much needed financial advice to businesses and institutions regarding their financial records. They are the ones to call for matters that involve management and forensic accounting, taxation, auditing, and other sensitive problems concerning a business’s accounting systems.

 

This being the case, it is Chartered Accountants that you need to identify specific issues with your accounting processes and give you advice on how you can grow your profits in the most realistic amount of time.

 

So I Need A Chartered Accountant – But Why Profit First Certified?

 

As mentioned in earlier paragraphs, CAs can focus on different areas of accounting, and they are legally allowed to advise on business systems and processes. However, it takes one very special CA to help you grow your business income – you need someone trained and well-versed in the Profit First methodology.

 

The goal of Profit First is to help you create a sustainable system for your business that will allow you to increase long-term profits. Doing this will deepen your company’s foundation and improve your chances of thriving in your chosen industry for a long, long time.

 

Every Chartered Accountant follows his or her methodology, so if you are aiming to develop a system that will help you increase your profits long-term; you need a CA who is also Profit First Certified.

 

I would love to tell you more about how this methodology can change the very core of your business. Get in touch with Annette & Co. today for free advice!

 

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Annette Ferguson

Annette Ferguson

Owner of Annette & Co. - Chartered Accountants & Certifed Profit First Professionals. Helping Online service-based entrepreneurs find clarity in their numbers, increase wealth and have more money in their pockets.