A Big Business Starts Small

Ever wondered why certified accounting professionals are preferred over normal accountants?

Certified Accounting professionals work almost in all the fields of business and finance whether it is a public or a private sector. The intense program of education and training transforms them to become an evident leader with all the required finance and accounting expertise. It indeed requires a lot of dedication and patience along with the deep understanding of their domain.

Also looking at today’s competitive environment, importance of having a professional degree like IACPA/ACCA/CA is definitely very valuable as it open many doors together like auditing, taxation, cost accountancy, VAT/GST compliance, management accounting, financial reporting, corporate law, business management and Economics. Hence, clearly one can say that certified accounting professional’s qualification is not just about technicality, but it is also about identifying and solving different business problems.

Why do small businesses need a certified accounting professional?

A certified accounting professional is one of the most trusted and a very resourceful advisor especially for a growing business; they easily understand the dynamics of a small business and act like an upgraded version of normal accounting professionals.

Every small business or startup has unique requirements unlike big companies as here things are needed to be analyzed on micro level as well; certified accounting professional understands these differentiations very well. They help to maintain strong internal control system in order to manage proper accounts and sound financial position. They work hand-to-hand to create value and help the small business primarily in its initial survival to achieve stability and then success eventually.

Let’s look into the few facts that why a certified accounting professional in a small business is needed:

Initial stage and business plan formulation: From planning the capital structure to identifying the potential market and targeted audience, certified accounting professional acts like the most trusted and experienced advisor. Certified accounting professional’s opinion also strongly matters when it comes to the implementation of accounting standards.

The Number game: To maintain the financial fitness, number game played by certified accounting professional in small business plays an important role which mainly involves; setting price, internal audit, statutory audit, forensic audit, due diligence, save on tax, cost cutting and maintaining the books of account.

Time management: Certified accounting professional knows exactly how to get the things done in the right place at the right time. They spend time on market research wisely to figure out the opportunities in order to push the small businesses move forward.

Technological Knowledge: Certified accounting professional can grant to efficiency advancement using different software applications to manage financial reporting and other accounting requirements easily.

Still trying to manage all the business’s complexities on your own?  

Mrs. Pranjali Mehta who has held positions in top management in some of the most reputed firm as a Chartered Accountant says “A qualified CA has better clarity regarding the statutory guidelines and application of various laws prevailing than many other professionals.”

She further adds to the same telling “Chartered Accountants can come up with best fitted and accurate solutions for tax planning, investment and financial presentations”.

Mrs. Pranjali Mehta prepares standalone financial statements on quarterly and annual basis as per statutory guidelines of various international standards and various acts in multiple countries. She not only manages books of accounts but also handles acquisition related accounting, financial reporting, annual budgets and statutory & internal audit.

 

She has simultaneously worked on the projects based on “intangible asset valuation” & implementation of several financial reporting software for preparing financial statements.

 

She is also the co-founder of Rohan & Pranjali Outsourcing Solutions, a company which provides Outsourced Bookkeeping Service, Accounting and Taxation Service, Ledger Management, Expense and Risk Management, Invoice processing and Bank and Credit Card Reconciliation.

Now this clearly justifies how certified accounting professional are multitask and greatly contribute towards the growth and smooth functioning of an organization.

 

 

 

                                                                                                                     Author- Aanchal Verma