How Accountants Act As Business Advisors

Accountants are responsible in analyzing and assessing the revenue, expenses, reporting financial matters and giving advice about the financial health of their employer. They help their client to know the best way to run a business by tracking and analyzing where does the money of the business go. They also give suggestions on where money could be made and advice in budgeting the money in the business.

In order “to offer high-quality accounting services”, Arthur Andersen (AA), a Northwestern accounting professor started a business to offer services to clients promoting “integrity and sound audit opinions over higher short-run profits”. The company’s “four cornerstones” was good service, quality audits, well-managed staff, and profits for the firm. Their strategy was to focus on quality and high standards of audits rather than profits, a very successful strategy that led to consistent growth over the years.

Qualifications: there are a number of qualifications you need to undertake the career of an accountant. Core knowledge areas needed are accounting systems and processes, financial accounting, and management accounting these are essential for a career in accounting. Other areas of knowledge are optional so you don’t have to do them but they would help you pursue your career in accounting. Things such as commercial law, corporation’s law, accounting information systems and more. The career of accounting is available through a bachelor of commerce. Different types of accountants have to attend different subjects because they need some subjects

As a financial consultant, one must be able to assist a company by evaluating drawbacks and advising solutions. Consultants deliver an analysis of current practices of a business and offer suggestions that will help a business progress to the next level. A consultant’s duty for a business usually begins with an understanding of what clients wish to improve. This includes examining financial statements, business opponents, and the company’s practices. So making recommendations on an accounting system for a new business is a consultant’s forte. In a case where a business owner knows nothing about accounting, a consultant will create a business model and formulate a plan tailored to the client’s needs.

The purpose of this paper is to identify how different factors effect on the growth of small businesses. The growth of small businesses has been influenced by factors such as growth strategy, business forms, short and medium term goals, financing assistance, organizational structure and staffing needs, customers and promotion, and ethics and social responsibility. In this paper will to discuss how the different factors alter the advancement of small businesses.

One great problem that has been realized to have entered into the accounting industry is that a lot of accounting firms only give help to their clients whenever they feel so. Unfortunately, this has far much bigger negative results to businesses. A lot of the businesses go through a stressful experience and sometimes it is adverse. We have a great understanding that our clients choose us because of our great effort to ensure that we help them most when in need.

In “Ownership of an Enterprise Built to Last,” Poza speaks on how the ownership of a family business should be structured, in terms of how much share and corporate control individual family members receive. He also explains that although some family

Family: the business can succumb to the familial conflicts over succession, money, or any other problem. The family should ensure the transmission, from generation to another, of the sense of commitment, and to permeate their ethos. Developing and respecting financial and managerial

In this essay arguments for capitalism as the dominant economic system, and the role that accountants can play in improving this system is discussed. Capitalism is defined as “An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. ‘an era of free-market capitalism’ “ (Anon., 2017).

Experience shows 90% of family and small businesses generally fail, because of lack of leadership, decision making, or to become fully professional and competitive in the market. It is on Mr. Pacheco’s shoulders, as the family business leader, this decision rest, to keep the existing path – or - grow and prosper with a new structure.

Ruth Hines’ paper discussing how we construct reality is very interesting and leads one to wonder whether accountants have too much power. Accounting classes teach concepts of realization and organizations as if it has always been that way. It is hard to think of why accountants do things the way they do, because it is just the way it is supposed to be done. Accountants are considered to be the professionals that everyday stakeholders trust to provide reliable information. As Hines said, “Everything would be a mess without us.” Naturally, everyone assumes accountants always know how to handle an issue; it is safe to say most people assume they do not have issues in the first place. But, of course, there are always issues that need to be handled.

One of the issues confronting a little business is as far as bookkeeping. With the restriction in assets, some bookkeeping is finished by the entrepreneur. The business person is tasked to maintain the business and in the meantime handles the everyday bookkeeping prerequisites of the organization. As

Bragg, S., & Burton, E. (2006). Accounting and Finance for Your Small Business (2nd Ed.). Hoboken, NJ: Wiley and Sons, Inc.

Conclusion: This paper is intended to give clarity on the depths of small businesses, how they plan to succeed and get through possible adversity. The surviving mechanism it takes to maintain in a world where large businesses are expected to exist longer than small business.

Since reliable financial information is essential for investors and other stakeholders to take adequate decisions, this reliability must be backed by independent review performed by independent and certified auditing firms, which are supposed to verify and certify financial statements issued by a company’s management. If the auditor is not competent and independent from management, the audit of the financial statements loses its credibility (Schelker, 2013, p.295). According to Impastato (2003), because of audit failures, accountants are to blame for investors losing billions of dollars in earnings in addition to market capitalization (as cited in Grubbs & Ethridge 2007).