When you are looking for an accountant company, you may notice that some businesses are labeled as chartered accountancy firms and some are not. Understanding the difference between the two is critical. This will help you to make sure that you benefit from the best possible service when hiring an account, whether for your personal or business requirements. With that being said, read on to discover what a chartered accountant is, as well as the benefits that are associated with using one.
What is a chartered accountant? What is the difference between a chartered accountant and a standard accountant?
It is vital to understand that chartered accountants tend to have gone through more training when compared with standard accounting. A chartered accounting must have successfully completed an academic postgraduate program. After this, i.e. once they have graduated, they then need to have worked under a mentoring program for at least three years.
This is what is required to be deemed a chartered account. Plus, rather than concentrating on tax returns and other ‘real time’ elements, chartered accounting will focus on ensuring that your business produces accurate financial transaction records and that you’re operating in an efficient manner.
What are the benefits of choosing a chartered accountant?
Now that you know what chartered accounting is, let’s take a look at the advantages that are associated with going down this route. First and foremost, you can have peace of mind that the professional you are hiring has extensive experience and training. As you can see from the explanation that we have provided above, chartered accounts undergo much more training and they have to prove themselves in a real working environment as well.
When you consider this, there is no reason why you would not choose chartered accounting, right? You are going to have a much better chance of experiencing a high-level service when you opt for chartered accounting. Chartered accounts must maintain professional standards and the services that they provide are regulated. Because of this, this gives you the security of knowing that the people you are working with need to work to a particular standard. You also know that you are going to have the best possible advice for your business.
Hiring chartered accountants with such high-level skill, knowledge, and commitment mean that your business is going to be able to capitalize on expert advice that they otherwise may not receive if they simply choose to hire a standard account. Don’t overlook the fact that this is essentially going to benefit your bottom line and ensure your business is running as efficiently as possible.
One thing a lot of people do not consider is the impact that hiring chartered accounting is going to have on their brand image. After all, if you outsource elements of your business to regulated and high-quality professionals, this says a lot about your company and the pride you take in your business. It shows that you operate a professional establishment.
You still need to choose a chartered accountant with care
As you can see, there are many benefits that are associated with choosing a chartered accounting over standard accountants. However, do not let this fool you into thinking you can simply choose the first chartered accounting you stumble upon. You still need to do your research and make sure the firm in question is right for you. We recommend that you take the time to read about the company in question.
Take a look at their history and experience in the industry. Aside from this, find out about the different services that they provide so you can make sure they offer everything you need. Furthermore, take the time to read reviews that have been left by people who have used their services before so that you can make sure they live up to their sales pitch and that they provide a reliable and high-quality service. Check out independent review sites to be sure of the authenticity of the comments.