Why Businesses Hesitate to Engage External Accountants
Lack of Awareness
“The second is that often they don’t know what they don’t know,” said Maury. These businesses don’t understand their finances and run the risk of missing opportunities to grow. As the first step to fix this problem, accountants should step in to help them identify a need. Their role here is to help these businesses create meaningful information out of the numbers in their spreadsheets in order to get a clearer picture of their business value and make better decisions.
This study underscored the importance of financial education and the opportunity for accountants to become proactive in advisory services. “There’s a really strong role for the accounting profession to play, not just in terms of compliance but also in terms of educating some of these start-up businesses in the basics of financial fitness,” Maury added. The Outsourced Accountant supports Australian and New Zealand accounting firms by helping them understand and implement outsourcing solutions to help them become more proactive and truly add value to their clients. If you want to know more about outsourcing, call us at 1300 896 522/0800 452 853, and download our e-book. REFERENCES: http://www.intuit.com.au/r/financial-literacy-quiz/]]>