Qualified accountants are
- Regulated by their professional body.
- Bound by a strict Code of Ethics
- Work within a framework of professional standards.
- Required to hold a practising certificate and carry professional indemnity insurance when offering accounting services to the public.
Their regulation also means they are subject to inspection and oversight from that professional body. A qualified accountant will have years of training and experience bringing vital skills, expertise and knowledge to your business. Year end accounts and tax computations are just the basic element of a very wide range of services a professional accountant can offer. Qualified Accountants are also required to keep their skills up to date with continuous professional development, so they will have current knowledge of changes in legislation and be fully aware of how these changes will affect your business. Navigating your business, small or large, through its many changes is a full time job for any business owner, a qualified accountant has been trained to hold your hand through these different stages drawing on a wealth of experience and training to make your journey as smooth as possible: so any gaps in your knowledge will be supported by their expertise. It is just as important to plan for your businesses growth as it is to be prepared for choppy waters.
How much does an accountant cost?
Contrary to popular belief, most accountants no longer charge by the hour - they charge by the job. Through detailed discussions your new accountant will find out as much as they can about you and your business; from this information they will be able to tell exactly what services you need and build a package tailored specifically to your requirements. From this a detailed quote can be produced, so you can see exactly what you are paying for. Most accountants will be happy to agree spreading the cost of the annual fee over a monthly payment plan. In the event that any additional services become necessary during the course of the year your accountant will agree any additional costs with you before embarking on that work, so you are always in control of your spending.
Do I need to look for an accountancy firm near me?
An important point to consider when deciding how to select an accountant is location. With modern technology it is possible to choose an accountant based pretty much anywhere in the country. Some businesses however prefer to have their accountant close by, especially if they like lots of face to face contact and regular meetings, which might be the case when looking to use a small business accountant. It is always best to arrange an initial face to face consultation with any prospective firm so you can chat through your needs and and see if they are a good fit for you - a strong working relationship with a professional practice you feel comfortable with is going to be more productive, long term and beneficial to you and the health of your business. So by using a qualified accountant you are ensuring that both your business and it’s financial structure are in the safest hands.