When small business owners think accounting, they are generally thinking about compliance based accounting services. These are the accounting services that focus on preparing tax returns, lodging BAS and ensuring the business’ financial records are accurate. As a result, this style of accounting is constantly looking at past performance rather than exploring opportunities for growth or preparing for upcoming challenges.
But there is another style of accounting that actually helps business owners make informed decisions, anticipate trends and gain a comprehensive understanding of their financial performance.
It’s called Commercial Management Accounting and it’s an area of accounting that has traditionally been reserved for large corporates. But thanks to the team at CFO@Call this type of accounting service is now available to small and medium-sized businesses.
What are the benefits of Commercial Management Accounting Advice?
Businesses that obtain commercial management accounting advice receive 3 major benefits. They are:
- Commercial management accounting is forward-looking so it is able to provide insights into your business’ future financial performance. This gives business owners and their management teams the information they need to plan, expand or consolidate with confidence.
- Commercial management accountants have more of a partnership relationship with their clients, rather than a once-per-year approach. This means they can examine your business’ financial data to identify patterns, tends and provide strategic insights which can be used to make informed decisions.
- Commercial management accounting includes services such as financial forecasting, business performance analysis, risk management and strategic planning. These services will transform the focus of your business so you can prioritise commercial success through gaining efficiencies, adopting innovation and maximising upcoming opportunities.
Are you ready to take a proactive approach to managing your business?
Obviously, compliance based accounting practices are essential for every business. But if you want to improve profitability, promote stable cash flow and gain the ability to make informed business decisions, you need commercial management accounting advice. In other words, you need to speak to the team at CFO@Call. So get in touch by calling 02 4713 1100 to discuss how we can help your business.
