If you want to know the role of the Chartered Accountant In India for the success of any business, then you have come to the right place. While establishing a business, most people think about the product, vendor, real estate and marking. Little they pay the importance of how they will plan their finance.
From the initial days, we think that handling finance is a pretty straight forward affair but with time everything seems to go south. There is always a bigger picture than what we think especially in the time of handling the finance. From the wages of the employees to the taxation of the company; you have so many responsibilities to take care of. To get help in this matter, there is no other help than hiring the Chartered Accountant In India to handle the financial aspect of any business.
- Accountancy: The whole financial matter should be maintained properly throughout the year. Bookkeeping is a professional realm where licensed CA can only execute the work perfectly. From calculating every expense of the company to do the planning for the future, the accountant can help the business to run smoothly. They do complex financial analyses to produce the end result perfectly.
- Auditing: The specialized training, judgment power, and professional skills are the abilities of the professional CA to resolve their day to day duty. The process of auditing is essential for every business to ensure that the financial statement of the year has been prepared following the right accounting principle. The goodwill of the company is based on the audit report. If any company produces a fake financial report, then people will question the credibility of the business and their future reputation will be hampered hugely.
- Taxation: A business has to handle different types of taxes depending on the industry it serves. The company must be aware of the present and continuous tax information as it is very important for the economics of the core management of the business. The accountant must be responsible to prepare the tax as well as the return, assess the representation to the Income Tax Authority and provides general advice to the customer so that they can invest and plan the finance properly to avoid any hassle in the future.
- Cost Accountancy: The role of Chartered accountant gains more importance when it comes to cost accountancy. It is the duty of the CA to calculate the cost accountancy of the manufacturing firm. They must consider the production cost and the expense that happens during different stages of production. They must have all the costing information so that they can manage the finance properly. They will suggest ways to control the cost and appropriate selling price of the final product.
- Special Company Work: From the formation to the liquidation of any limited company, it is the CA who plays a crucial role. The accountant has to take care of several duties like registration work, secretarial, receiver duties along with financial count management.