Your accountant’s job can be simplified into 4 main steps:
Recording is the process of documenting all of the revenue and expenses that the business is dealing with. Recording is summarizing the entirety of bookkeeping. As a business grows, bookkeeping is often one of the first jobs outsourced. Assemblage excels at bookkeeping services.
Reporting is the next step. The three major reports are the income statement, the balance sheet, and the cash flow statement. These reports can get very cumbersome very quickly but an accountant is well prepared to make sure they are accurate.
Interpreting is arguably the hardest step. Looking at the reports, what do the numbers mean for the business? What changes need to be made to the strategy to increase profits?
Analyzing is done once the numbers have been interpreted and various projections run to ensure that when the accountant comes to you with answers, you know they’re the right ones.
Each of these steps increases in difficulty the bigger the business gets and the more money flows in and out.
To talk about where your business is and how an accountant can help you at this step, schedule a call with us! We can help you analyze your accounting needs and guide you in the right direction.