Businesses are run with a focus on increasing the sales and improving the product or service offerings to customers and so on. Profit making is also one of the objectives; if a business does not make profits consistently, then the future of the business itself will be in jeopardy. But while doing all these, the business owners and the management team have to keep track of the finances of the company. Internally, there would be accountants to handle the day to day accounting of income and expenditure. However, when it comes to financial planning and structuring of the company’s finances and dealing with taxation matters, you will need the services of a professional accountant or an accounting firm. If your business happens to be in New Zealand, you can approach one of the chartered accountants Auckland has today to handle these.
Services a Chartered Accountant Can Provide
There are a number of areas where a qualified and experienced chartered accountant can be of assistance to any business, big or small. These include:
- Financial planning and investment advice: This involves a deep understanding of the present financial status of the company and based on the projections for the future, preparing a financial road plan for the company. If there is a surplus cash flow, the chartered accountant can give advice on the best instruments the company can invest its funds in. Instead of the funds lying idle, the objective would be to make the funds grow in value but without any risks. Deep knowledge of the financial markets would be essential, and you can expect the chartered accountants Auckland offers to possess such knowledge. These can be broadly classified as business advisory services.
- Taxation Related Advice/ Actions: Taxation for any level of business is a specialised area and outsourced help is practically mandatory. Tax planning, ensuring that the taxes are paid at the right time and filing of returns as prescribed by the tax authorities are all handled efficiently by the chartered accountants. There may be other returns to be submitted. If your company has been chosen for audit by the Inland Revenue department, you will need the professional guidance of the chartered accountant to handle the intricacies with tact.
- Normal Auditing Services: Even if you have employed accountants on your regular payroll to handle the day to day accounting work, you will have to have the books audited by an external agency. Here depending on the nature of the organisation in New Zealand, there are statutory audit requirements also to be met. These are also in the portfolio of services rendered by chartered accountants Auckland wide.
Besides these, the CA firm also handles assignments like setting up of new firms and the formalities related to it. There may be foreign companies registered and operating in New Zealand and the regulations in their case also apply differently. The chartered accountants will be fully equipped to deal with all the requirements so that the foreign companies stay on the right side of the local laws. Any which way you look at it, the services of chartered accountants are inevitable for every business organisation.