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This month's edition of the Finance and Accounting update, courtesy of Ashley Reeve has landed, and while most have been out enjoying the sunshine, he's been totting up the cost of a bad hire and pondering whether industry experience really is an essential trait for senior roles. 🤔 Find out his thoughts and more about the current state of play below 👇 https://lnkd.in/e4Qx5pck #finance #financenews #accounting

CJ CPAs Simplified: The Difference Between an Auditor and an Accountant 📊💼 This week, we're clarifying the roles and responsibilities of auditors versus accountants. Understanding the distinction can help you better navigate the world of finance. Accountant: Role: Accountants handle the day-to-day financial transactions of a business. They prepare financial statements, manage budgets, and ensure compliance with tax laws. Responsibilities: Recording transactions, preparing financial reports, managing payroll, and filing taxes. They provide a clear financial picture of the business for internal use. Auditor: Role: Auditors review the financial statements prepared by accountants to ensure accuracy and compliance with regulations. They provide an independent assessment of financial health. Responsibilities: Examining financial records, identifying discrepancies, assessing internal controls, and providing audit reports. They often work externally and ensure the integrity of financial information. Key Differences: Focus: Accountants are involved in the creation of financial records, while auditors verify the accuracy of those records. Objective: Accountants aim to manage and report financial data, whereas auditors aim to validate and ensure the reliability of that data. By understanding these roles, businesses can better utilize the expertise of both accountants and auditors to maintain robust financial health. #CJCPAsSimplified #AuditorVsAccountant #AccountingBasics #FinancialHealth #CJCPAs

This month's edition of the Finance and Accounting update, courtesy of Ashley Reeve has landed, and while most have been out enjoying the sunshine, he's been totting up the cost of a bad hire and pondering whether industry experience really is an essential trait for senior roles. 🤔 Find out his thoughts and more about the current state of play below 👇 https://lnkd.in/ddjEEyBP #finance #financenews #accounting

This month's edition of the Finance and Accounting update, courtesy of Ashley Reeve has landed, and while most have been out enjoying the sunshine, he's been totting up the cost of a bad hire and pondering whether industry experience really is an essential trait for senior roles. 🤔 Find out his thoughts and more about the current state of play below 👇 https://lnkd.in/dhC3xsXx #finance #financenews #accounting

An Accountant - The Definition... An accountant is a professional who is responsible for recording, analysing, and reporting financial transactions for individuals, businesses, or organisations. Accountants ensure that financial records are accurate, complete, and in compliance with laws and regulations. Their duties often include preparing financial statements, managing tax filings, auditing accounts, and providing financial advice to help clients make informed decisions. Accountants may specialise in areas such as tax accounting, forensic accounting, management accounting, or auditing. They often play a key role in helping businesses track financial performance and maintain fiscal responsibility. #Accountancy #Accounting #Accountants #Manchester #BusinessGrowth #BrandGrowth

This month's edition of the Finance and Accounting update, courtesy of Ashley Reeve has landed, and while most have been out enjoying the sunshine, he's been totting up the cost of a bad hire and pondering whether industry experience really is an essential trait for senior roles. 🤔 Find out his thoughts and more about the current state of play below 👇 https://lnkd.in/dkJ-X43c #finance #financenews #accounting

What do you give me that a Management Accountant doesn’t? This is a question I’m often asked. I say that a Management Accountant will put the figures together, whilst a Finance Director will pull them apart. A Management Accountant will present data telling you how the company has performed. A FD looks at the figures and will try to determine what it means for the future, suggesting actions the company needs to take and the direction it should be going in. A good FD will not look at the figures in isolation but at the whole business and what the impact of changes will be. Having a trusted advisor, to tell you what the figures mean, to help you understand the impact of decisions and to work with you to determine the course the business should be on, working on solutions right away, is invaluable. The FD can also oversee the finance team, talk to Banks, HMRC, monitor HR and IT and so on, meaning you don’t have to. For a lot of small, growing, businesses this role can be done on a Part-time basis, meaning you benefit from the valuable financial expertise and direction, help and insight of a FD but at a fraction of the cost. Ultimately using a FD gives you knowledge about your business and that most precious of commodities, time. Time to work on what you do best – Promoting your business. #SME #Growth #Profit #Cashflow #FractionalFD #FinanceDirector

Key Duties and Responsibilities of an Accountant In any organization, accountants play a crucial role in ensuring financial integrity and compliance. Here are some of the essential duties and responsibilities that make accountants indispensable: 1. Financial Reporting: Accountants prepare financial statements, balance sheets, and income statements that provide a clear picture of a company’s financial health. Accuracy in reporting ensures the right decisions are made at every level. 2. Budgeting and Forecasting: Accountants help businesses plan for the future by analyzing past financial data, estimating future financial needs, and assisting in budgeting and forecasting. 3. Compliance and Audits: Ensuring compliance with tax laws and regulations is a key responsibility. Accountants keep businesses in check with audits, ensuring that all financial activities adhere to legal standards. 4. Tax Preparation and Filing: Accountants manage tax preparation and filing, ensuring businesses optimize their tax strategy while complying with government requirements. 5. Managing Financial Transactions: From payroll to expenses, accountants ensure that every financial transaction is properly recorded, categorized, and reconciled for smooth financial operations. 6. Financial Analysis: Accountants use their analytical skills to evaluate financial data, identify trends, and provide insights that can guide business strategies and improvements. 7. Cost Management: Accountants help in managing costs by analyzing expenses, recommending ways to reduce costs, and improving profitability. 8. Internal Controls: They establish and maintain internal controls to prevent fraud and protect the company’s financial assets. 💼 Behind every thriving business, there is a great accountant ensuring financial health and stability! #Accountants #FinanceProfessionals #FinancialManagement #Accounting #TaxCompliance #Business Strategy

Accounts vs. Statutory Accounts: What is the Difference? Running a business involves various financial reporting obligations. However, two critical reports often get confused: management accounts and statutory accounts. Management Accounts: ➡️ Internal Use: Prepared for internal stakeholders like managers and business owners. ➡️ Frequency: Created regularly, typically monthly or quarterly, to provide timely insights. ➡️ Flexibility: Can be tailored to include specific metrics relevant to your business operations. ➡️ Focus: Analyzes trends, identifies areas for improvement, and supports informed decision-making. Statutory Accounts: ➡️ External Use: Prepared to comply with legal and regulatory requirements. Aimed at external stakeholders like investors, creditors, and tax authorities. ➡️ Frequency: Annually submitted to relevant authorities. ➡️ Format: Follows a standardized format to ensure transparency and comparability across businesses. ➡️ Focus: Provides a historical overview of the company's financial performance for a specific year. In essense management accounts are your internal compass, guiding your business towards its goals. Statutory accounts are a formal record of your financial journey, required by law. Both play essential roles in ensuring the financial health and success of your organization. #entrepreneur #business #accountingservices #smallbusiness #economy #SouthAfrica #smme #friday #motivation #quotes #Blog ____________ 𝘊𝘰𝘯𝘵𝘢𝘤𝘵 𝘶𝘴 𝘧𝘰𝘳 𝘢𝘭𝘭: ➡️ Performance management ➡️ Audit ➡️ Accounting ➡️ Tax ➡️ Secretarial ➡️ Advisory services. 𝘓𝘢𝘯𝘥𝘭𝘪𝘯𝘦: +27 11 026 3052 𝘔𝘰𝘣𝘪𝘭𝘦: +27 83 246 5905

We have put together some great stats around senior finance, tax and treasury recruitment in the UK as part of our review of 2023. Including, where the market was busy and where we saw shifts. For example, we saw an increase in external hiring over internal promotion at the most senior level. Read the full update to find out why! If you are looking to build or develop your team please get in touch with Michael Johnson #seniorfinance #financecareers #taxcareers