Accounting Services - Providing More Than Accurate Computation

Typically, when you find out that somebody’s an accountant, the first thing that comes to your mind is that the person does taxes — which is true, but accountants actually do more than add up numbers. You may find yourself one day in need of advice for business recovery or guidance in real estate and be surprised that an accountant is the professional who can help you best (chartered accountants, especially, for they mind t come   offer a vast range of services made possible by their extensive experience and knowledge on different business aspects).

Accounting services are typically divided into six categories: audit and assurance, consultancy, deals, human resources, legal services, and taxes. All of these work in effectively meeting personal and corporate objectives.

For audit and assurance, you have actuarial services which consist of the analysis of disability, mortality, retirement and other contingency rates. Under this category as well are financial accounting, financial statement audit, internal audit, Sarbanes-Oxley compliance, corporate reporting improvement, IFRS reporting (quite a tedious process to a large extent and due to the fact that each country has its own set of rules or policies), and several other tasks.

As for consultancy, accountants are required to keep abreast with financing trends, the latest technology for data gathering and organization, and all relevant information about the market and the economy. Hence, companies consult them on how to develop strategies to stay on top of their investments and risk management or activities that can directly impact the movement of the business’s finances and resources. Likewise, they are the ones who determine the money trail of various operations; they’re tasked to properly investigate when there are some irregularities in the financial records of any organization.

Now, for deals, accounting firms include business recovery services (which are necessary for enterprises that are affected by market behavior changes), corporate finance, delivering deal value, financial due diligence, strategies, and valuations and economics.

When it comes to human resources, though, they provide ideas for better HR management, reward systems (which a steadily growing number of corporations employ to reinforce employee engagement and satisfaction) that a company can include in its overhead costs, and international assignments.

Meanwhile, legal services are provided by accountants in the areas of asset management, dispute resolution, employment, immigration, real estate, and public law.And lastly, for tax, accounting services are known to cover the following: global compliance services, indirect taxes, international tax services, mergers and acquisitions, sustainability and climate change tax, tax accounting services, tax function effectiveness, and finally, transfer pricing.

About the author:
This content was written by Sarah Miller. She is a business consultant by profession and a content creator, writer and blogger by passion. She focuses on writing useful information about various methods and strategies of improving business performance. She follows different informational websites like http://www.allianceaccounting.com.au/

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