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A quick guide to the most common FAQs related to accountancy

It doesn’t matter whether you have a startup company or the company exists for long. Accounting plays a vital role in all types of industries. If this is the first time you are looking for an accountant, then you must check out the most commonly asked questions related to accountancy by the startups.

These will answer most of your confusion and queries before hiring a good accountant for your company. The questions are answered by some of the top accountants by registered firms like ACCOTAX Comptable.

Commonly asked FAQs related to accountancy:

Owning a small or large business can be highly responsible with plentiful of activities to do. Many questions related to accountancy rotate in the mind. Check out these along with the answers for your reference.

Why do I need an accountant?

An accountant is a qualified professional who takes care of the accounting work of the firm. He/she records every financial transaction, invoice, and other types of finance related activities.

What is the role of an accountant?

An accountant performs several responsibilities on behalf of the company. An accountant takes care of the financial reporting. They also prepare financial reports for auditing and inspection. In case of financial crisis, they are the first to help you out with the solution.

Is there more than one type accounting?

Yes, accounting can be of various types and an accountant is hired based on the nature of work. Financial accounting, tax accounting, management accounting, and administrative accounting are some of them. The role of the accountant may vary as per the type of accounting work he/she is hired for.

Is hiring an accountant expensive?

Identify the types of accountancy and you will realize how much cost you can save. Noting every single transaction by self can result in errors, delays, and mistakes. This can result in further penalties for the company to pay. Thus, preparing tax returns can cost you more than an accountant’s fee.

How do I get a good accountant for my firm?

You need to look for registered and licensed firms like ACCOTAX Comptable if you wish to get the best accountant for your firm. They hire well-qualified accountants who come from an experienced background. Be open to communicate with them and screen a few companies before you finalize someone. Don’t hesitate to ask their quotation in advance.

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