How Chartered Accountants can support business creation?

How Chartered Accountants can support business creation?

The chartered accountant is often perceived as a professional figure, whose role is limited to the accounting of the company. For many, this professional should only be called upon when the business is already in place. However, the latter can intervene in the process of creating the company. Discover in this article the roles of an accountant in the creation of a business.

Upstream choices

Before starting a business, several decisions are important to make. These decisions are essential for the future because they directly impact the assets of the company. But that’s not all. They will also influence the possibilities in terms of tax exemption.

All this calls for knowledge of the notions of taxation and law. To this end, the intervention of an accountant can be of great use as he can operate on several levels.

From a legal point of view

The chartered accountant can also help you in choosing the legal status of the company. You will find several statuses and a CA can also help in the choice of the form of your business.

On the commercial level

To set up a business, it is important to have financing. To this end, the accountant can help you find them. Thanks to his knowledge, he can help you perform all the steps you need to obtain a bank loan, for example.

The establishment of a provisional budget

As you will have understood, this is about money and management. And when it comes to money, the intervention of the accountant is more than indispensable.

Indeed, for the establishment of the provisional budget, it is necessary to be both ambitious and balanced, but also, and above all, coherent.

It is a question of managing to make fair projections to achieve one’s objectives while being rational and realistic. It is for this reason that the capacities of analysis and deduction of the accountant are of great necessity.

For the accountant, this will mean analyzing the company’s financial data and the business model. It must be solvent and consistent in projecting and managing its finances.

The accounting professional will therefore review the forecast turnover, the profitability, the budgeted expenses, the financial structure, as well as the cash flow.

The culmination of this analysis is the establishment of provisional financial tables. It is given these results he will have to adapt the company’s financing plan.

Cash monitoring and management

Once the company is created, the role of the chartered accountant remains eminent. The latter thanks to his skills and expertise, is useful for setting up the accounting organization of the company.

To this end, he can assist the entrepreneur in the choice of management tools as well as tax and administrative declarations. It can also be a great necessity for keeping accounts up to date, closing the financial year, bank reconciliation, etc.

In summary, the chartered accountant is a professional of great use in the process of creating a business. He can accompany you before, but also after the creation of your company. However, to be sure to have the best advice and services in this area, you must turn to someone qualified.

This content is meant for information only and should not be considered as an advice or legal opinion, or otherwise. AKGVG & Associates does not intend to advertise its services through this.

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