September 12, 2017
This article tries to draw attention to the role that accountants could play as business advisors within your business. Historically, accountants occupied the position of “bean-counters,” which essentially focused on what happened in the past, not on what the future of the business holds.
This has changed, and it’s important to understand the dynamics of how it works in today’s business context.
While there is a great deal of value that comes from applying accounting expertise to the historical viewpoint, such as that which comes with preparing tax returns and historical financial statements, it is clear that accountants can bring to the table a set of unique skills that go beyond simply working with historical numbers.
Aside from working with past data, accountants also possess skills that are exceptionally well-suited for analyzing what can be coming down the road in terms of financial activity in the future. In fact, it has been shown that accountants are well-equipped for assuming the role of financial advisor.
What this means is that accountants, equipped with their financially centered skill-set, have shown that they are in an excellent position to provide advice to the management team by identifying and negotiating financial challenges to the business’s future.
The following outlines identify opportunities being taken advantage of by accountants who occupy the role of financial advisor.
Read more … https://www.mgivensassociates.com/blog/how-accountants-can-help-improve-business-performance