Why Are Accountants Shifting to Business Advisory Services?
The number of scholars choosing accountancy is consistently decreasing and a number of other factors are contributing thereto . Several software packages and apps are available nowadays and that significantly reduced the necessity for professional accountants.
With the assistance of those packages, even individuals with decent exposure to accounting can
file their tax returns without the consultation of monetary firms and accountants.
Even, dedicated accounting services in Dubai also are facing tough times lately and that they reduced the amount of latest recruitments significantly.
That is the reason why most accountants are now that specialize in alternative career options
and business advisory services became their first choice.
Accountants who opted for advisory consulting can give their best due to the subsequent reasons.
● During their accounting practice, they could have maintained friendly relationships with several business
firms and that they know the pros and cons of every business. They also know the strategies to be adopted in expanding the business as they had seen the increase and fall of several business firms.
● Whatever the business could also be , the competition is extremely high nowadays. So all the startup entrepreneurs search for good advice to retain within the competition and become successful. nobody offers better advice than professional accountants.
● Accountants have a far better idea of utilizing all the resources available and thus very effective in financial
risk management in comparison to others. they will plan all the financial activities well for all the business firms.
● An accountant can easily understand this financial situation of various countries and may easily estimate the longer term financial and industrial trends. This helps in preparing the plans which can be very successful within the end of the day .
● Branding the business and services play a crucial role in making the business successful. together with his
experience, an accountant can efficiently plan the advertisement expenditure and one can get maximum benefits
by spending small amounts on ad campaigns.
● As accountants are during this advisory business for years, they know the possible consequences of the financial bills proposed by the governments and that they advise their customers to try to do some changes within the strategy to satisfy future needs. This shows their maturity and is really helpful in financial risk management.
● One must realize the very fact that albeit software packages and apps are very useful within the case of
people , MNCs and reputed companies still use the services of reputed and professional accountant firms.
● An accountant can even act as a bridge and therefore the companies referred by him are considered to be reliable and following the proper directions. Signing MOUs (if possible) with such firms will surely help in expanding the business.
From the accountant’s point of view, in comparison to traditional accounting, business advisory services are
highly profitable. All the businessmen and firms are able to pay fat paychecks if the special advisory services
offered by accountants can really increase their business and generate extra profit. Unlike the Cheap bookkeeping services in Dubai and accounting services which generate high revenue once a year, advisory services help in getting consistent income throughout the year.
