704-272-2236
  • Home
  • SERVICES
    • PERSONAL TAXES
    • SMALL BUSINESSES
  • ABOUT US
  • CONTACT US

Accountants

of

Concord

CALL TODAY
    Picture
Submit
Picture
Picture

Account Services, Bookkeeping Services, Tax Services

The field of accounting has always been historically described as a monotonous process often characterized by complex mathematical manipulations and numerous boring days spent inside congested cubicles ad nauseam. However, people eventually began to have renewed perspectives on accounting and its advantages, ultimately transforming it into a language that incorporates the influence of the science and philosophy of financing from the ancient times and the intricacy of its modern counterpart. This evolution can be attributed to the sudden rise of multiple industries and corporations that eventually emerged as global leaders in trade and commerce. The advancements in the field of accounting allowed it to broaden its relevance in different niches and fields that range from traditional services, fiduciary consultant services, and even forensics. This entirely eradicated the stigma against accountancy which described it as a field with only one purpose - bookkeeping. To date, accountancy continues to redesign itself with the noble purpose of efficiently catering to the needs of clients in the modern era where the world of business and financing is constantly evolving. Over the years, accountancy has undergone various revolutionary processes, consistently improving its accuracy and efficiency which can be attributed to the rapid development of science and technology. Tasks that previously required a plenitude of work hours can now be done in a significantly shorter time with refined accuracy.
 
Before exploring the various services being offered by accountants and the critical factors that are involved in the decision-making process on whether an individual requires hiring a professional accountant or not, it is crucial to have a grasp on the characteristics of a qualified accountant and the various services they can offer their clients.
 
To keep it simple, an accountant is an expert who is responsible for various accounting functions such as auditing or financial statement analysis. Take note that even though the terms ‘accountant’ and ‘bookkeeper’ are commonly used interchangeably, there are contrasting key features that differentiate these two job profiles. A qualified professional accountant is skilled in creating and developing rapport which fosters a collaborative environment that allows clients to make good business decisions. Accountants are also generally more flexible and have the capability to adapt and strategize their service approach in order to cater to the changing needs of their clients brought about by the dynamism of the business environment. 

​EXPLORE OUR SERVICES

PERSONAL TAX HELP

SMALL BUSINESS ACCOUNTING

Picture

CURATING FINANCIAL REPORTS TO DETERMINE FINANCIAL PERFORMANCE AND POSITION


It is commonly believed that accounting is a simple and straightforward job that requires little to no interpretation at all. To some extent, this may actually be correct especially when considering that a significant proportion of an accountant’s work involves recording financial data and facilitating methods that ease the presentation of these data. However, accountants play a more crucial role than simply compiling data and it includes intricate problem-solving and decision-making processes that revolve around the interpretation of existing financial data. After all, data are merely recorded figures that are meaningless unless provided with an interpretation. The analyses of raw data sources such as trend, ratio, and data analyses provide accountants with an overview of the overall financial performance and position. These analyses also enable accountants to determine the most appropriate approach in making vital decisions that could potentially cause drastic consequential effects on the firm’s well-being and financial success.
​
Picture

CONSULTATION


Accountants are valued for their competence in imparting high-quality financial advisory or consultancy services to their clients. These services cover a broad scope which ranges from determining the appropriate entity structure for a particular business plan on the basis of various factors such as availability of resources and market environment, arranging the necessary paperworks for due commencement of business operations, to financial statements for the conclusion of the fiscal year. The valuable insights provided by accountants are paramount in determining the direction a business should take in order to grow and succeed.
Picture

ENSURING COMPLIANCE WITH STATUTORY REGULATIONS


Laws, particularly those with pertinence to business, are invariably changing and keeping up with these constant modifications is an arduous task. Accountants aid business leaders keep abreast of these changes which ensures compliance with federal laws. Accountants also provide help in preparing a business’s tax returns and guarantee that all deadlines are met.
Picture

FINANCIAL FORECASTING


Around three-fourths or a staggering 75% of new businesses do not make it to fifteen years or more. In order to increase the likelihood that a firm will thrive in the future, long term planning is necessary. This is why financial forecasting is considered to be a precursor to a firm’s success, especially when considering long term goals. Financial forecasting utilizes historical data as inputs to predict informed estimates in both absolute and percentage changes. Risk analysis assessments can also be performed which enable accountants to come up with innovative approaches that can relieve the harsh consequences brought about by contingent and unforeseen events in the future. Forecasting also aids in the measurement of deviations by computing the difference between the predictions and the actual figures. From this, corrective actions will be implemented in lagging areas in order to minimize the deviations. 
Picture

GROWTH


Strategic guidance enables the assessment of the degree of influence of certain growth decisions over the available financial resources. This will also allow a firm to navigate transaction options that could be advantageous for recruiting additional sources of funds to meet the stringent financial requirements in the various stages of the growth process. For this reason, Transaction Advisory Services (TAS) are valued for their indispensable role for those who are contemplating mergers & acquisitions (M&A) which can redesign the entirety of the business structure.
Generally, the most experienced business owners prioritize appointing an accounting expert in order to reduce the workload and allocate more resources on more pressing issues that could negatively impact the core strategic elements of their businesses. On the other hand, one common mistake that the majority of start-up business owners make is that they often classify the needs for hiring accountants as a form of expense rather than a smart investment. What they fail to realize is that the advantages of hiring one far outweigh the costs incurred on behalf of the proprietors. Proficient accountants contribute in a positive manner towards the welfare of the firm, without which the attainment of goals such as effective strategic planning, identification and presentation of the firm’s financial health, and the projection of its growth perspective would not have been possible.

EFFICIENCY THROUGH STREAMLINED SERVICES


One of the advantages of hiring accountants is the role it plays in creating a worry-free environment that is less stressful for business owners. This alleviates the stress and workload imposed on them which gives them opportunities to appropriately allocate their time and effort to other crucial aspects of the business. The services offered by expert accountants are strategically structured to create a streamlined process with the intent to achieve efficiency. With an accounting expert around, the management of critical areas such as financial transactions, financial records, taxation and legal regulations will be supervised and processed within the deadline. 
Picture

OPPORTUNITY COSTS


​The opportunity costs incurred by small businesses when opting to forego the option of hiring an accountant is actually higher than what is commonly perceived by business owners. The total cost for hiring an accountant is significantly lower than the cost that a business owner will incur on potential penalties, incoherent business planning and forecasting, and uninformed decision making. Accountants are experts in preventing these hefty penalties, anticipating future gains and losses in advance in order to develop structured strategies to mitigate its impacts, and providing quality counsels on the framework of the capital structure. These advantages are among the plethora of services that accountants offer in order to ensure that firms will not head towards a downward spiral as a result of exposure to major financial crises and business risks.
Picture

COMPUTER LITERACY


With a wide array of computer softwares and computing tools used to process huge amounts of data on a regular basis and the multitude of technical skills required to utilize these tools, it is near impossible to expect an average business owner to be equipped with these skill sets unless they opt to forego the management of their business and focus entirely on learning these skills and tools. Accountants, on the other hand, are mandatorily recommended to have a commendable mastery over these technological skills. Accountants are also capable of applying the concepts that revolve around the in-depth knowledge and workings of accounting software, query languages, data analytics focused on huge data sets, and proficiency in the usage of Microsoft Suite such as Word and Excel into vital roles imperative for data processing. That is why, it is often recommended to delegate essential tasks to suitable personnels according to their area of expertise. With this approach, business owners not only achieve quality results but also save precious hours of effort just on keeping up with the demanding business environment. This also opens up opportunities for business owners to manage the overall operations and organizational structure of their businesses.
Picture
Understanding the pivotal role that accounting plays in the success of a business is a principal factor in the decision to hire an accountant. However, identifying the right person for the job remains to be an obstacle. There are certain misconceptions about accountancy that led most business owners to a clouded judgment that accountancy is a fairly simple and straightforward field. However, it is important to note that an accountant is equivalent to a business partner in all but name. This individual will be trusted to manage the firm's finances. offer consultations on the general direction the business should undertake in order to achieve its goals and visions, and play an essential part in the growth and success of the firm. To ensure that the accountant you are looking for is qualified for you and your business, there are a few characteristics that you should look into when considering potential candidates for this job position.
Picture

CERTIFIED OR CHARTERED ACCOUNTANTS


Just like any other profession, there are professional bodies that guarantee the quality, integrity, and competence of accountants. Accountants who are acknowledged members of these associations are known to be highly qualified individuals with exceptional professional standards and aptitude. Hiring those who do not fit this criterion would generally be considered a risky move on the part of the business owner.
Picture

​EXPERTISE


Capable accountants have plenty of strategies in their arsenal which makes them multiskilled workers that are versatile enough to effectively handle any contingencies. Generally, they can contribute a lot more towards the growth and success of a business. They are also very adept at identifying potential risks and coming up with solutions to prevent or alleviate the possible consequences should they arise. 
Gone are the days when accounting was described as a monotonous task filled with repetitive chores of manually filling forms and computing complex tax situations. Accountants are gradually moving away from the traditional form of accounting and quickly adapting to a more modern approach which is more efficient and accurate. Similarly, businesses are also having renewed perceptions on the field of accountancy. Global trends show that businesses are opting to make use of more innovative technologies and shift away from obsolete methods of accounting. What used to be a career defined as a ‘numbers’ job whose position could easily be occupied by someone who has a bare minimum proficiency in recording and maintaining financial transactions, evolved into a more distinct area of expertise that guarantees high levels of professionalism and competency all under the purview of regulatory bodies.
If you live in the Columbia area we recommend this website for accounting help! Website 

HOME

SERVICES

ABOUT US

CONTACT US

© 2020. Accountants of Concord
​All Rights Reserved
704-272-2236
Site powered by Tempest Hawk
   Privacy Policy  ​Terms of Service Disclaimer


  • Home
  • SERVICES
    • PERSONAL TAXES
    • SMALL BUSINESSES
  • ABOUT US
  • CONTACT US