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10 Questions to Ask When Working With an Accountant

by admin on June 21, 2015 Comments Off

There are ten basic questions you need to ask your accountant when you avail the Accounting Services Singapore. More than just the service, you will be able to understand the basic step by step of the accounting procedures for the growth of your business.

  1. How often will you contact your accountant?

Not all businesses need the accountant on a daily basis for the accounting services, but you should have a fixed time and schedule for your accountant to complete the accounting procedures and report to you about the finances of the business.

  1. How will your accountant help you get through the tax season?

Accounting and bookkeeping services are essential for the correct recording of transactions and monthly report of the financial status of the company. But when it is tax season, you probably have no idea how to get through the process. Your accountant will help you understand your income tax return long before it is filed.

  1. What are the things you should ask your accountant about more often?

There will be issues regarding your business venture that you will probably ask your accountant more often, and you should know these things as early as now. As part of the accounting, it is essential that your business comply with what the law requires as it grows and becomes more productive.

  1. How your accountant can help you make your business successful?

As you aim to make your business grow, your accountant can help you. More than just giving you and providing you with the most reliable accounting services, it is his or her duty to provide you with the right business advices as you make decisions for the growth of the business.

  1. How your accountant help you with your cash flow?

When you hire a professional accountant from a reliable accounting firm, your aim is to have a smooth flowing cash flow with an effective method. Your accountant should help you formulate one depending on your business and capacity.

  1. What is the figure for your break-even point?

It is very crucial for any business to determine the pricing to avoid break-even point, and your hired accountant knows that. Let him or her explain the value to you and see how you can work your sales to cover the costs and lessen the chance for break-even.

  1. What is the value of your business?

Your accountant can help you asses the real market value of your business. If it seems very confusing for you, you have an accountant to explain that to help you achieve growth and productivity to gain income.

  1. Can your accountant help you with the business contract negotiations?

Some accountants are not lawyers, and some lawyers are not accountants, which is why it is important that you allow both of them to collaborate for the better status of your business. If you need to sign a business contract, let both of them see it and discuss it with them before signing.

  1. What are the special considerations regarding this industry where my business belongs?

Each industry has its special considerations and your hired accountant knows what special considerations are provided for. There are certain tax exemptions that can be availed at some particular time, and you should be able to maximize it with the help of your accountant.

  1. What mistakes should be avoided while working the business with an accountant?

Accountants for businesses in Singapore are needed for the Accounting Services Singapore, and by simply hiding things from your accountant, you are already putting your business into its pitfall. Aside from that, you will also need to heed the professional advices, especially if it is about major decisions. This will keep your business stable and even more productive in the near future.

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