It is very tough for any company to sustain in this cut-throat competition without having the support of a financial adviser.
The chartered accountant is the best person to provide financial advice, bookkeeping, auditing accounts along with maintaining the financial record. They also help the company to find the cost-cutting technique so that they can keep up the challenges in the business.
The financial health is the oxygen to any company and the CA is the only person who helps to maintain it.
Along with this, they can offer you an array of programs that help the business to grow. Though many people think that it is an additional expense to spend and they can manage it by themselves, it is a completely wrong decision.
Managing finance is a specialized topic and people with proper knowledge and license are allowed to do so.
There are so many ways one can get the benefits by hiring the service of CA in Delhi.
Key Role of the Chartered Accountant:
1. Finance Management:
The CA will do a deep analysis of the cash including the flow financial statement, expenses, etc.
They ensure that the fund is spent on projects that are useful and efficient. They don’t only audit the accounts; they can also help to build up the financial strategies to improve the economic condition of the business.
Financial records are very important for any business. It helps to track the financial growth of the company. The CA helps the company to maintain the records of all the financial transactions of the company.
Different types of records like sales books, purchase books, receipt books, and payment books are updated by the accountant. To keep up ultimate transparency, they prepare an income statement.
Saving tax expenditure is another key role of the CA. They will calculate the tax and suggest all the possible ways to save in taxation. They bring out all the legal tax saving schemes that will be helpful for the company.
Apart from that, they also help to file the tax and return as well. They also represent their assesses in front of the income-tax authorities and also advise some different types of taxes that are payable by the company.
4. Cost Cutting:
It is very important to have a realistic budget to run a company successfully. The financial performance of the business must be analyzed correctly and then draft the realistic budget.
The accountants will find out the expenses along with the method to control the cost. In this way, they will assist you to balance in between variable and fixed costs.
5. Financial advice:
The chartered accountant also works as financial advisors. They can help you with experienced guidance on investment, rules, and regulations of tax along with insurance decisions. They will suggest you the best financial planning that will work best for you.
Along with that, they will track the progress of the company and the growth of the business so that it can avoid any rough patch in the future.