An emblematic figure in the business world, the accountant is above all a professional figure. In times of crisis, it is precisely the role of the accountant to help the company keep the boat afloat and circumvent the pitfalls.
Most companies use accounting services in Delhi for practical reasons: saving time, lack of knowledge and expertise, etc.
Accountants can work externally, and intervene on an ad hoc basis with their clients, but also be contractually attached to an employer, and work full time for the company. The choice depends above all on the accounting needs of the company. To do this, the managers of the company must take into account its sector of activity, its structure, and its short, medium, and long-term objectives.
In addition to keeping the accounts, the accountant can support a company in:
- Procedures related to the creation or takeover of a business: choice of statutes (of the company and the manager), of the tax system, search for financing, and, more generally, taking charge of all the related administrative formalities;
- Business takeover;
- The establishment of the business plan;
- The implementation of administrative procedures;
- Tax exemption;
- Internal management of accounting activities.
Contrary to popular belief, the accountant does not just line up numbers in your Excel tables. He assumes the role of adviser, auditor, strategist, analyst, and whistle-blower (in the event of jeopardizing the health and financial security of the company).
In small structures, such as VSEs/SMEs, which must keep an eye on cash constantly while ensuring continuous activity, its presence is essential.
Identifying the strengths and weaknesses of the company is part of the mission of the accountant. As we have seen, the accountant has an advisory role, but also a preventive one. In times of crisis, the accountant may be called upon to:
- Accentuate its monitoring of bookkeeping,
- Carry out regular checks on the budget and cash flow,
- Check debts,
- And, if necessary, stop accounting and use his time to carry out certain reviews and in-depth analyses, to ensure the company’s regularity, anticipate its evolution, etc.
- Implement reorganization measures, and a backup or recovery plan.
Although he does not have the authority required to trigger an alert (only the auditor is authorized to do so), he nevertheless must advise the manager.
An ideal figure for solving economic-business problems, the accountant is a professional who mainly deals with taxation, employment relations, business administration, and accounting.
As you can understand from the premise, his activities are different: the accountant can take on the role of consultant in specific subjects in large companies, or the role of the external contact person in small and medium-sized companies.
The usefulness of the accountant can therefore manifest itself strongly in the management of the documentation necessary for the establishment of a company, in the preparation of all documents useful for the tax return, in the drafting of the financial statements, and the choice of sources of financing.
All companies that want to comply with the current accounting regulations, like Ind AS Implementation in India, therefore need to resort to the services of a good accountant.
Making use of an expert, competent and up-to-date accountant helps to carry out all the formalities correctly and in good time.
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.
Posted by
CA Aman Aggarwal
AKGVG & Associates