Who are accountants?

WHO ARE ACCOUNTANTS?

Unfortunately, there is nothing to stop anybody calling themselves accountants. You will need to carry out some research in order to find the right freelancer accountant to help you run your business. So you can understand the difference in the different accountants, here are the three types of accountants.

• Book-keepers - Their role is largely to "keep the score" by recording the financial effects of what a company has done. They are usually the best people to do routine accounting work.
• Qualified accountants and tax advisers - These are experienced professionals who have undergone rigorous training and passed extremely difficult exams. There are a number of leading qualifications - but if you look for the letters ATII, ATT, ACA, FCA, ACMA, FCMA, ACCA, CA or FCCA after the accountant's or tax adviser's name you should not go too far wrong. Qualified advisers are best at dealing with the non-routine aspects of your business, for example, helping you to increase your profits, produce your statutory accounts and pay less tax.
• Unqualified tax advisers and accountants - There are also many unqualified people. Before deciding to use the services of one, we suggest you ask yourself: "Would I put the health of my family in the hands of an unqualified doctor?" If the answer is no, why consider putting the health of your business in the hands of an unqualified tax adviser or accountant? Don't be afraid to ask what qualifications and expertise they have and if you have any doubts, try somebody else.

A DEFINITION OF ACCOUNTANCY

Accountancy is about identifying and recording, analysing and explaining the financial implications of business transactions and decisions to enable businessmen to understand the performance of their businesses and to help them make decisions and take actions which assist in achieving the objectives of the business.

More on freelancer accountants and limited company accountants.