Significance of Having a Good Accountant

Having a good accountant is important because it can lead a business to its success or to its failure.

According to the New Zealand Institute of Economic Research, their study of MYOB’s survey revealed that the companies that were growing positively in 2013 are the ones with the good advices from their accountants.

Regardless if it is those competitive small or medium enterprise in the pressured markets, good accountants have helped them do the job good.

The problem in other small businesses is the fact that they only use their accountants for taxes. According to sales manager MYOB Scott Gardiner, strategies could have been made through the advices of accountants to make the businesses better.

"Often, owning a small business can be a lonely life. Often, you're doing it all on your own," he said. "Your accountant is another voice, which knows your business. They often have excellent advice and there's not much they haven't seen before."

NZIER  study also revealed that by knowing where your costs are, improvement is possible – a place where an accountant is surely expert on.

 "Over the course of the downturn, access to debt has been of huge benefit to businesses as it opened up productive avenues for investment and can help smooth out seasonal cycles," the study said as it explained that small businesses lack access to its debts.

Book keeping and effective systems were the ones that made businesses grow as it has clear information which led to better decisions with fewer risks.

But Gardiner also added that a good accountant should be someone who was familiar with the industry to have a good relationship, hence would bring forth good value in business.

Posted by Diane Araga, on March 15, 2013 at 9:00 AM