Just started my own business and wondering if there a rating system or platform where I can find a good accountant. There’s only two of us in the business but we will be looking to expand in the coming months with a number of new contracts being negotiated. Any help would be great
WARNING!!!! WARNING!!! DANGER!!!!! DANGER!!!!
well, maybe you should be alarmed and maybe not.
If you have already started a business jointly with someone else and you DONT already have an accountant, you may need more help than you think. There is a bucketload of stuff that you need to make sure is covered off, ranging from tax, risk management, conflict resolution, business structure, exit strategy, the list just goes on and on.
Here is my rating system: find a CA.
There is no course or training program that is more difficult to achieve than the CA Program. You have a much better chance of getting someone with a wider range of skills and more indepth knowledge with those two letters after their name.
CPA's are also very highly trained and I would not hesitate to go with a CPA if you are comfortable with them.
There are plenty of accounting types out there with qualifications ranging from a bachelors degree in accounting to nothing more than a brass shingle on the door. Ask them what they are actually trained in. I know plenty of "accountants"whose academic background is a diploma of farm management, or they started out life as a sales rep, or any number of other professions..... which are themselves honourable vocations.......but nigh on useless when you want to get tax and business advice. Its a funny profession in that you dont need to have a qualification in accounting to call yourself an accountant.
But the major accounting bodies (CAANZ and CPA Australia) have very high standards......so start there.
And remember, if you dont "click"find someone else. You need to be confident that you can communicate with your bean counter, so they need to be able to explain things to you effectively.