Role of a Chartered Accountant in an Organization.

A business involves a lot of book keeping, auditing, managing accounts, tax filings, liabilities and many other allied activities. If you decide to do it yourself, and you are not experienced, it will be a hassle and will cost you lot of time. At such a time, the need for a Charted Accountant is felt. The backbone of an organization, an accountant manages the entire finances of the company. He is competently qualified to clarify the legal facets associated to the legalities of a company, specifically in conducting Auditng & Assurance Services . A Chartered Accountant is your best ally, who looks after your books, tax filings and liabilities so that you can fully utilize your time and energy to concentrate on your business. Therefore, an accountant plays an essential role in an organization. He works all year around and not just during the tax sessions. A Chartered Accountant is skilled at solving your financial issues.

Your business can flourish only when you choose the right accountant. Today the situation is such that anyone can call himself a charted accountant and offer accountancy services. Hence, it becomes very important for a company to cautiously hire a well-qualified accountant. A company should look for a Chartered Accountant who has passed three qualifying examinations and has 30 months of experience before appointing him as a Charted Accountant in their company. Apart from a thorough knowledge about their subject, they must adhere to a professional code of conduct.

A proficient Charted Accountant builds a long lasting relationship with the clients of the company that may prove to be useful in the later years. Further, he helps in decreasing the tax liabilities so that you can retain more profits. To be precise, a professional Chartered Accountant is capable of handling your financial matters competently.

 

A Chartered Accountant caters to the following needs of the organization:

  • Establishes an effective accounting system adapted to the company.
  • Careful analysis of accounts.
  • Creation of transitional situation.
  • The review of accounting records.
  • Implementation on management accounting.
  • The preparation of annual accounts.
  • The preparation of budget evaluations.
  • The establishment of a cost accounting.
  • Dealing with Investment projects and budget control.
  • Help with cash management, examining the funding trend in the market and building relationships with financial institution.
  • Manages the Taxation process of a company.
  • Preparation of all tax returns.