AscendHire’s Post

I'm taking this weekend as a long one, so today is my Friday 😁 What's on the agenda for today? 👉 Client bookkeeping 👉 CIS Returns 👉 Preparing monthly accounts reports 👉 Making sure that everything is in order for those covering my work That's the great thing about having a virtual finance department. You never have to worry about holiday cover. That's something we manage so that you're never without the function. Our clients have access to all levels of a finance department without having to foot the bill for a bookkeeper, management accountant and a finance director. If you're in the construction or trade industry in the UK and would like to explore the options a virtual finance department offers you, reach out. #Empowered #Financedepartment #constructionindustry

We understand the challenges that businesses face, particularly when it comes to managing their financial resources. In light of this, we aim to alleviate the burden of hiring a full-time finance officer or accountant, which can often be financially taxing for smaller entities. Our key areas of focus include: 1. Affordable Financial Services. 2. Essential Financial Knowledge. 3. Orderly Books of Accounts. 4. Business Growth as a Focal Point.

Explore the responsibilities, skills, and qualifications that define the role of a senior accountant. From financial reporting to overseeing accounting operations, delve into the key aspects that make senior accountants pivotal contributors to an organization's financial health. https://ow.ly/R5FN50Q9hbe

If you've been on the fence about hiring an accountant, consider these 3 key benefits: ⏰Saving time 💷Maximizing tax deductions 🌟Gaining financial insights to make informed decisions. Hiring an accountant can truly be a game-changer for your business or personal finances. #accounting #financialsuccess

Understanding the Roles: Finance Manager vs. Chief Accountant In any organization, understanding the specific roles of finance professionals is key to efficient operations. Let’s break down the main differences between a Finance Manager and a Chief Accountant: 🔹 Chief Accountant: The Chief Accountant, often seen as the head of the accounting department, is primarily responsible for the accuracy and completeness of the company’s financial records. This role demands a meticulous eye for detail to ensure all financial transactions are recorded correctly according to accounting principles. Key responsibilities include: Maintaining and reconciling ledger accounts. Ensuring compliance with accounting standards and legal regulations. Managing payroll, accounts receivable, and payable. Preparing financial statements and tax returns. 🔹 Finance Manager: On the other hand, a Finance Manager provides a broader financial oversight beyond the realms of accounting. This role involves strategic analysis and planning to guide key financial decisions. Responsibilities extend to: Financial forecasting and risk analysis. Budgeting and resource allocation. Managing investment activities. Developing strategies to increase profitability and reduce costs. Liaising with senior management to align financial plans with company objectives. #FinanceCareers #Accounting #FinancialManagement #BusinessStrategy

We’re all about doing more with less when necessary. However, that shouldn’t become the standard because it leads to burnout and increases turnover. At some point you have to be realistic about what’s required to run your organization and manage the various levels of funding and their requirements. Your goal is to go after multi year grants and various funding opportunities. Typically these grants require audits, specialized reporting, and have certain compliance requirements. Are you really going to place your entire accounting function in the hands of an executive assistant and a FT bookkeeper. No shade to those employees because there’s a place for them. However, growth requires something different and piecing together an accounting function isn’t going to be the answer.

Empower Your Numbers, Excel as a Financial Accountant!

We’re all about doing more with less when necessary. However, that shouldn’t become the standard because it leads to burnout and increases turnover. At some point you have to be realistic about what’s required to run your organization and manage the various levels of funding and their requirements. Your goal is to go after multi year grants and various funding opportunities. Typically these grants require audits, specialized reporting, and have certain compliance requirements. Are you really going to place your entire accounting function in the hands of an executive assistant and a FT bookkeeper? No shade to those employees because there’s a place for them. However, growth requires something different and piecing together an accounting function isn’t going to be the answer.

It is true that being an expert in everything is virtually impossible, which is why seeking help from professionals can be a wise decision in certain areas of business. ⁠ ⁠ Accounting is one such area where it is beneficial to hire a professional.⁠ ⁠ An experienced CPA can help ensure your business stays on top of financial responsibilities, such as taxes, bookkeeping, and financial planning. This can be especially important for small business owners who may not have the time or expertise to handle these tasks themselves.⁠ ⁠ By hiring an accountant, you can also gain valuable insights into the financial health of your business, allowing you to make informed decisions about future growth and investments. Additionally, a professional accountant can help you identify potential areas of risk and advise you on how to minimize them.⁠ ⁠ Overall, while it may be tempting to try and handle all aspects of your business on your own, hiring a professional accountant can ultimately save you time, money, and stress in the long run.⁠ ⁠ Head to our website and let's get connected!

THE 5 TYPES OF ACCOUNTANTS: 1. Bookkeeper: Bookkeepers are responsible for maintaining accurate financial records. They handle day-to-day tasks such as recording transactions, reconciling accounts, and managing financial data. 2. Accountant: Accountants analyze financial information, prepare financial statements, and provide insights to help organizations make informed decisions. They can specialize in areas like tax accounting, cost accounting, or management accounting. 3. Controller: Controllers oversee an organization’s financial operations. They manage accounting departments, ensure compliance with regulations, and provide financial reports to senior management. 4. CFO (Chief Financial Officer): The CFO is a top executive responsible for an organization’s overall financial strategy. They manage financial risks, budgeting, and financial planning. Their role extends beyond accounting to strategic decision-making. 5. CPA (Certified Public Accountant): CPAs are licensed professionals who have passed the CPA exam. They offer services such as auditing, tax planning, and financial consulting. CPAs often work in public accounting firms or as independent consultants. #accountants #accounting #accountant