Tips on How to Understand Your Accountant

Posted by D&V Accounting Services

Jul 21, 2015 7:00:00 AM

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Accountants and business owners work hand-in-hand for the success of the business. However, their relationship, just like any relationship, is not without any challenges or difficulties. Chief among these challenges is the ability to understand one another, causing delay to the journey of your business to success. However, it is quite normal for business owners and accountants to speak different languages. For example, accountants, due to the nature of their work, are inductive while business owners tend to be deductive. To help you deal with this issue, here are some tips on how you can better understand your accountant.

 

1. Get over the numerophobia

Believe it or not, a lot of business owners are afraid to see their own financial statements. The main reason? They are afraid to look at numbers. Some say it is not their strength while others simply don’t understand numbers. In order to better understand your accountant and his/her work, you must get over your fear of numbers and do your best to understand them. Only you can do that.

 

2. Provide yourself with basic accounting knowledge

Yes, we get it, you hired an accountant to do your accounting because you’re not good at it, but this does not mean that accounting should remain a mystery to you. Read books, go into crash courses and do this with an open mind. This will help you understand more of your finances and provide an objective management decision.

 

3. Get to know your accountant

I guess we all agree that it is more difficult to understand strangers than the people you know. Take the effort and get to know your accountant. This will help you better work with him/her. Enjoy coffee together and just chat about other things than your business. If you are unable to do so given the circumstances (e.g. outsourced accountants) then just chat with your accountant. This will help bridge the gap between you and your accountant.

 

4. Don’t be afraid to ask questions

You don’t have to be someone who knows everything at a glance. Asking questions to your accountant shows your openness to learn and assures your accountant his/her purpose in your business. This would help you better understand the work of your accountant.

 

5. Keep an open mind

For business owners, listening is just as important as making business decisions. Lending an ear and doing your best to understand your accountant and his/her work is one of the most important steps to take to understand one another.

 

These are just some of the steps that you can take to better understand your accountant. Ultimately, it is your decision and initiative that would be the biggest catalyst in your aim to better understand your accountant.

If you are looking for an accountant that can help your business and provide you with the best advices that are easy to understand, visit D&V Philippines and experience finance and accounting in a whole new level.

 

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Resources:
http://www.smh.com.au/small-business/managing/enterprise/how-to-understand-your-accountant-20120502-1xyrb.html


http://blog.taxjar.com/4-things-your-accountant-wishes-you-knew/
http://www.entrepreneur.com/article/235341

 

 

 

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