Accounting is usually defined as the art of recording, classifying, and summarizing transactions of a financial manner, and interpreting the results in order to ascertain the financial status of a certain business entity. Financial statements are produced and reported by an accountant for the perusal and use of different individuals.
Internal clients are the managers and stockholders of a company who need an accountant’s reports in order to make sound management or operating decisions. Of course, a company’s financial stability should be considered when planning to invest in other projects or decide on an expansion. This type of accounting is aptly termed Management Accounting, because it provides relevant information to people inside the business such as the ones mentioned above.
Financial accounting is the type of accounting needed to provide information to people outside the business, or the external clients. It presents financial data that may be useful to external clients such as creditors (like banks), financial analysts, economists, and government agencies.
In Redcliffe, a city in Australia, an accountant is entrusted with a great deal of responsibility. The accountant is in charge of keeping track of a company’s money. The reports that he produce are indeed relevant to different users. The government, for example, need an accurate and honest financial report in order to determine how much tax the company must pay.
Large companies and those who have only just started a business based in Redcliffe rely on the skill of an accountant to make accurate financial statements that help people decide whether they want to invest in the company or not. Potential investors, customers, and future stockholders will have to determine if the company they are eyeing is worth investing their money in. Thus, the Redcliffe accountant plays a key role in the growth and success of a business, as his work has many important uses to internal and external clients as well.
A dedicated and enthusiastic accounting firm providing expert financial and tax advice to local Redcliffe business owners.
Our experience means that we can guide you in asking the right questions for your business because we’ve helped many business owners do exactly the same things you are.
Our approach is to keep things simple and allow you to concentrate on the big picture of working on your business without being stuck in the details of working ‘in’ your business. Because you should be the master and commander of your business and not the other way around!
To learn more about Redcliffe Accountant, visit their website @ Redcliffe Accountant