If this is also your view, listen up! A good accountant can be an untapped resource for your business! After all, they are familiar with your company and have access to all the right data in order to provide you with useful information to help you make better decisions. Your accountant may just hold the secret to how healthy your company really is and how to improve it.
If you are a relatively small company (i.e. less than $500K in revenue and/or less than 3 employees), you may benefit from consulting with your tax accountant at least twice a year on non tax matters. If you are larger than this, but not quite ready for a full-time CFO, your business could really thrive with a part-time or outsourced CFO. Consult with your CFO monthly or quarterly - depending on your needs and your budget.
Ask your accountant to examine your financial statements (P&L, Balance Sheet, and Cash Flows), to compare results to prior years, and to forecast future results. Discuss your current pain points and ask them where they feel improvement is necessary. Talk to them about your longer term goals and how your current results are either getting you closer to or further from your goals.
Good accountants should be able to point your business in the right direction. They are skilled at examining mounds of financial data, pulling relevant and meaningful information from this data, and translating that information into a format that you can use as a basis for making important decisions.
Its time to start thinking of your accountant as more than your bookkeeper or your tax guy or gal. They can be a trusted business advisor and can really help catapult your business to the next level!
Learn more about what we do at www.mytrustedcfo.com.
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