There was once a time - relatively recently, in fact - when only a fairly limited range of services was offered by the typical chartered accountant. It's all too easy to imagine that this is still the case, but nothing could be further from the truth. Today's chartered accountants offer a very broad and deep range of professional services that can help your company to thrive and grow - as well as working with you when things aren't going as well as you'd like. Here are just a few of the reasons why using a chartered accountant for your business makes sense.
Outstanding corporate assessment
Using a chartered accountant will open the door for your business to gain from a detailed, accurate and appropriately tailored assessment of its financial situation. This can be a huge advantage when seeking investment funding or considering a stock market flotation for your company. All relevant data will be produced with a total commitment to full due diligence, something that will reassure and actively attracts banks and other potential sources of lending. An assessment produced by a chartered accountant is also likely to make it much easier to sell your firm for the price you expect when the time comes for you to step down from the business you have built.
Business plan preparation
A business that does not plan for the future is a business that is far more likely than not to fail. This is especially true in today's fast-moving, online-centric marketplace where even small mis-steps can prove extremely costly. A carefully planned "road map" indicating the situation of your business one, two or three years from now will allow you to measure your company's performance against expectations, thus enabling you to take swift and decisive action at an early stage if things start to go wrong. A realistic, hard-headed business plan produced by Linghams Chartered Accountants will also be vital when you wish to convince potential lenders to, or investors in, your company.
Practical help when things go wrong
No matter how well run your business may be, there's always the potential for unforeseen events to throw it off course. If this happens, your best chance of avoiding disaster is to be able to call on people who have experience and expertise dealing with similar situations. Chartered accountants will be able to set aside the emotion you will probably be feeling about your business and immediately start working on a plan of action to retrieve the situation. They are also used to working under pressure and to very tight timescales. Many of the larger firms of chartered accountants will have whole departments dedicated to business turnaround and recovery programmes.
An assurance of quality
All chartered accountants hold professional qualifications in the field, but their commitment to standards goes far beyond this. They agree to a code of ethics, so you can be assured that they will maintain the highest levels of trustworthiness, probity and discretion. Because the needs of business don't stand still, neither does a chartered accountant's commitment to staying abreast of new innovations or changes in regulatory regime. All of them will undertake continuous professional development to this end. Chartered accountants will also have full indemnity insurance and are regulated by the Financial Reporting Council.
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