Business Accountant

Home » Posts tagged 'Business Accountant'

Tag Archives: Business Accountant

Business Accountant Magazine Out Now!

Business Accountant Magazine is an online magazine published the Association of UK Accountants 

http://www.uk-accountant.org/wp-content/uploads/Flipbook%20April%202016/data/mobile/index.html

https://www.linkedin.com/pulse/why-cima-mips-should-join-association-uk-accountants-steve-bicknell

It’s our second magazine, written by CIMA Members in Practice, the purpose of the magazine is show the wide range of skills our members have and provide useful advice to business owners and accountants.

The Association is a voluntary community interest company working with 350 CIMA practices, its not part of CIMA but supports CIMA members providing training and business opportunities.

If you have a business that would like to become a sponsor or referral partner please could me steve@uk-accountant.org

If you are a CIMA MiP please join us https://mybusinessaccountant.com/membership/mfm-join/#account/join we have generated lots of work for our members.

More than just accountants – Clients expectations are changing

Fotolia_91134201_XS Advice

There are 2 key reason why small businesses expect more from their accountant.

  1. In recent years we have seen a huge growth in Cloud Accounting Systems such as Sage One and Debitoor and automation of payments and bank feeds, its no longer enough for accountants just to provide book keeping or year end accounts and tax.
  2. Business owners want personalised, tailored partnerships with their accountant who need to be true business experts

So what are accountants doing differently?

The Virtual FD

According to Accounting Web….

Half the firms entering the Practice Excellence Awards this year (PEA15) offer management information as part of their service for business clients – up from 33% in 2014. One reason for this jump is that the approach has been shown to have a very beneficial effect on client satisfaction and practice profitability. Probably because it serves a fundamental client need.

Many smaller businesses and SME’s can’t afford a Full Time (or even in some cases a Part Time FD) but they need help with:

  • Business Plans
  • Budgeting and Forecasting
  • Cash Flow Management
  • Buy or Rent decisions
  • Capital Investment Appraisal
  • Accounting Procedures and Systems
  • Business Strategy
  • Business Funding and Investment
  • KPI’s

Virtual FD’s fill this gap because:

  1. You only pay for what you need
  2. There is no employment contract
  3. It provides access to higher level of expertise (in theory)

But here is the key question you should ask your accountant – Have you actually ever worked in business or been an FD?

It seems bizarre to me that so many accountants offer this service and yet have no experience as an actual FD

Weekly Management Reports

Accounting Web reports…

While many practices are becoming the finance team that puts together monthly reporting packs for company managers, Receipt Bank founder and CEO Alexis Prenn argues that monthly management accounts are not the future of accountancy. Cloud technology has changed the dynamic of accounting so much that advisers should be thinking more creatively about what they could do with this information.

What if accountants and businesses could get their hands on transactional data even more quickly and efficiently? Why not produce weekly management accounts?

In a scenario that is familiar to accountants on the Australian accounting conference circuit, specialist bookkeepers are now doing this for Antipodean coffee houses and eateries. “Cafés can run up costs very quickly – if you have three unprofitable weeks, you’re sunk. With online tools and transaction capture, the café can close its books on Sunday and get the weekly management accounts by Tuesday,” Prenn said.

I can see this being of great value in some businesses and cost effective with cloud accounting.

Business Planning and Forecasting

Sage suggest

Sage Planning

steve@bicknells.net

Business Accountant Magazine Launched

Magazine

Starting a magazine is a big undertaking and the Association of UK Accountants CIC has been working on it for months. Its funded by Advertorials.

The Association is run by Volunteers, the Directors, Editor and Assistant Directors give their time for free, we work to help and support CIMA Members in Practice and the 6 monthly Magazine is designed to provide practical tips and advice written by CIMA Members in Practice to help those in practice with compliance and to widen their skills and knowledge.

Click on this link to read it http://www.uk-accountant.org/wp-content/uploads/flipbook/1/mobile/index.html

Special thanks go to our Editor Joy Quarrie for making the Magazine a reality.

CIMA MiPs are invited to join the Association for Free

https://mybusinessaccountant.com/membership/mfm-join/#account/join

Or we have a Premium Membership which has additional benefits

As a Community Interest Company run by Volunteers all the profits are use to create benefits and resources for CIMA MiPs.

If you have services you would like to advertise and promote to AUKA members please drop me an e mail steve@uk-accountant.org

I need an accountant for my business!

Entrepreneur startup business model

Often business owners wait too long before they realise that they need help from an accountant.

Key reasons are:

  • They don’t understand the difference between a book keeper and an accountant
  • They think an accountant will just be an extra cost – the reality is that most accountants will save the business many times their cost
  • They think they accountants are just bean counters

But if you choose a qualified and experienced accountant they can bring huge benefits….

  1. Management tools to improve profitability
  2. Cost Controls
  3. Tax Savings
  4. Identifying Cash Flow needs and funding solutions
  5. Growth Strategies
  6. Business Planning
  7. Budgeting
  8. Business Structures
  9. Business Accounting and Reporting Systems
  10. Maximise Credit Scores to win more business

So don’t wait too long, getting an accountant should be a priority for all businesses!

steve@bicknells.net

 

 

 

%d bloggers like this: