Accounting Consulting: How Does It Work

.Accounting consultancy means all work that goes beyond the traditional accounting routines performed by these professionals.Here, the main focus is on guiding entrepreneurs with respect to best accounting practices to reduce costs, increase profits and avoid paying unnecessary fines or fees.

Among the main practices of accounting consultancy are participation in the preparation of tax planning, assistance in controlling financial management and guidelines for better business management .

It should be noted that decision making remains a function of the manager or the entrepreneur, but the accountant is now playing an important role in formulating this decision.

How to start your Accounting Consultancy?

When it comes to Accounting Consulting, proactivity is a key word. Often companies do not know that this type of service exists or, when they do, they do not have the exact dimension of the impact that it can have on the business.

It is up to the accounting professional to present this possibility to companies.

A survey carried out by the Brazilian Micro and Small Business Support Service (Sebrae) in 2016 showed that among small entrepreneurs, more than half of them are willing to overpay for accounting services , provided they receive a more complete job in return.

In other words, this indicates that there is a demand for this type of work, but entrepreneurs are not always aware of all possibilities.

More than being proactive, it is necessary to justify the reasons why your client will make an investment in your consultancy.

Use the numbers in your favor and well-grounded arguments to show how much a fiscal readjustment or more efficient financial management can impact on the profitability of a business.

What should an Accounting Consultancy offer?

The possibilities of services within the accounting consulting segment are numerous, but some of them are more recurrent among companies of any size. Being able to offer the following tasks will certainly increase the chances of finding customers in this niche.

1. Business tax planning

Tax planning, also known as tax planning, is a way for companies to reduce costs with the payment of taxes, fees and taxes within what the legislation determines .

Contrary to what many people imagine, this process should not be carried out just before the opening of the business, but also after its consolidation. Companies of any size can benefit from this type of planning.

2. Recommendations for business improvements

As already mentioned, decision making will always be up to managers, partners and owners. However, this does not prevent the accountant from making his recommendations for improvements in the business based on the numbers obtained .

As a finance specialist, the professional often sees possibilities that other executives do not see. This type of more qualified report is viewed favorably in the corporate world.

3. Performance and diagnostic reports

In addition to the advice itself, consulting accountants can also be responsible for preparing performance and diagnostic reports.

As they are easier to read the numbers, it becomes easier for these professionals to interpret and explain them in a simpler language for the company’s managers.

4. Support in Financial Management

The review of internal processes, advice on the use of more appropriate tools and principles of controllership and governance can also be established by a consultant accountant.

These forms of support for financial management aim to make the company more productive and profitable. In most cases, there is always room for improvement.

How to be a consultant accountant

In a previous article we already covered some details on how to be a consultant accountant . To seek opportunities in this segment, you need to understand what the real impact of your work is: are the solutions you are presenting able to impact how much the company that contracts your services?

Show with number the potential that is being wasted. Develop management skills to understand why certain decisions are (or are not) made and invest in relationships with your customers .

The more they trust you, the more likely they are to accept your proposals.

Finally, learn to set priorities. Every company has management aspects that can be improved, but some impact more than others. Opt for those capable of bringing better results and faster. This will earn you the trust of your customers for more ambitious projects.

What are the benefits of an accounting consultancy?

We have already mentioned some of them throughout the text, but the list is very long. Companies that use accounting professionals for consulting in general have a leap in productivity, when the focus is on process review, and profitability, when the focus is on fiscal and tax review.

The recommendations for improvements can positively impact the company in the medium and long term. In addition, with more qualified performance reports it is possible to make more assertive decisions. It is a job that can result in significant differentials for businesses of any size.


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