Value of An Accountant
First person, a businessman hires for his business and the last person a businessman fires during the closure of his business is probably in most cases either accountant or a bookkeeper. Bookkeeping and financial accounting are kinds of professions, needs of which are there from the start to the end of the business and every business require a bookkeeper to track its business transactions. Bookkeeper or a professional accountant is often underrated in a running business and its contribution to the business environment is often neglected when compared to other departments such as marketing or production in manufacturing concerns. The reason behind this illogical phenomenon is that real value of this profession is truly identified when the business lacks accounting and it has no idea of where it is going. Without proper accounting process, business lacks the visibility of their positioning and their way forward into their future which has to be co-aligned with the mission statement of the organization.
There has been a spike in the demand of business consultancy services across the globe. There has been a visible increase in the demand for financial consultancy and bookkeeping services in London. There are two chartered associations which are providing professional accounting services to the business owners in the United Kingdom. Association of certified chartered accountants and institute of chartered accountants of England and Wales, their extensive courses has enabled the accountants to stay updated with the industry innovations and add value to the business. Because of their composite effort, professional chartered accountants are being trained to add value in other parts of the business as well. There are providing courses which include basic know-how of other valued fields as well such as system information, marketing, internal audit and HR. A professionally qualified accountant is capable of handling multiple departments. Unlike the accountants of past which are considered to be number crunchers, thanks to extensive improvement in professional accountant grooming courses, a professionally qualified accountant is capable of adding more value to business than anything else.
As the organizations are getting automated, human involvement in the business will be on a decline for the rest part of the century. Despite this automation, the future of accountants in the industry remains bright because this field contains a lot of gray areas and judgmental based decision making which cannot be automated by the technology we have today. Driving various calculations and proposing different ideologies. Ever since accountants have started to develop other skills, their value to the organization has immensely increased and that has also resulted in a chance of better future for the accountants.
Accounting for small businesses has never been this important as it is today. A strong accounting department can help the organization save time, money and take timely decisions resulting for business owners to enjoy maximum benefit out by using financial information in its best form.