Sep 25, 2020
When it comes to hiring an accountant -or any type of assistant that is related to accounting-, you should first have a crisp understanding of what accounting is, or better yet, what it is not:
Accounting is not a science !!!
The common view of accounting is that it is just about gathering and multiplying numbers, but the truth is that it more subjective than you might think.... let us say your accountant had a receipt in front of him for a fancy dinner of the amount of a $400, he will then call you to ask you if it was business-related, you might say yes because you want to pay as little taxes as you can possibly can? But if he believed you and did that too many times, that could open your business to a possible review by the IRS, and that would be very very bad. -that is if he even bothered to ask about every receipt to see if it is business-related or personal-
That example was a simple common problem in accounting, other more complicated issues can have different valid answers, as many answers are there are accountants looking trying for answers.
Accounting has more to do now with technology than accountants!!
40 years ago %100 of accounting was done by accountants, but with the year's spreadsheet were infected and that percentage dropped to about half, after that accounting software got advanced and were able to connect to your bank accountant automatically, and now with AI less than %10 of accounting is done by accountants. -check out MiniAccountant, it is an AI accountant that can fully replace your accountant-
Business skills are more important than accounting skills in an accountant!!!
That might seem count-interventive but it's true, if the job of an accountant is to just prepare statements then you don't need one, you can hire any bookkeeper to do that, the job of an accountant is to advise, that doesn't mean that you will listen, but what they advise on & what type of information they can see in those statements will determine what you will think about and what you won't.....
Let's take an example to showcase this:
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