OfficiaNet - Knowledge Base
AccountingAccounting is a system of measurement and reporting of the economic events based upon the assets, liabilities and owner's equity for the purpose of decision making. Generally, when someone says "accounting" they are referring to the department, activity or individuals involved in the application of the accounting equation. Many within business look upon accounting as a chore, but detailed accounting and auditing can help you to run your firm more efficiently, whilst combating mismanagement, waste, or fraud. Your AccountantAn accountant's role is to ensure that your company remains compliant with taxation laws and to provide you and your business with advice about the best way to deal with your financial situation. A good accountant can navigate their way through the murky waters of taxation legislation, ensuring that your business is paying the correct amount of tax. They can also provide you with vital information which could help your company develop, and assist you with keeping your financial records accurate, up to date and organised. Once you have settled on the right accountant, he or she will send a letter outlining terms. Make sure you are happy with the agreement. Keep in regular contact, build a relationship and ensure he or she understands your business and keeps up with changes. |
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