The Value of an Accountant as a Business Advisor

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As a residential builder, you should consider whether you need an accountant who can simply handle your financial records and provide tax advice or an accountant who can also serve as a business advisor. Here are some expectations you should have for each

Accountant:

1. Timeliness: Your accountant should be able to handle your financial records, provide tax advice, and ensure that all financial reporting requirements are met on time.
2. Attention to detail: Your accountant should be able to pay close attention to detail and avoid errors that could result in financial loss or legal issues.
3. Knowledge and expertise: Your accountant should have a solid understanding of accounting principles and practices, as well as relevant laws and regulations.
4. Communication skills: Your accountant should be able to communicate financial information clearly and effectively, whether it’s to you or government agencies. They should also be able to listen to your concerns and provide helpful advice.
5. Ethics and professionalism: Your accountant should maintain a high level of integrity and ethical standards, as they handle sensitive financial information. They should also be professional and respectful in their interactions with you.

Accountant/Business Advisor:

1. Relevant experience and knowledge: An accountant/business advisor should have experience and knowledge in the specific area where you need help, such as financial management, risk management, or marketing.
2. Analytical skills: An accountant/business advisor should be able to analyze data and information, identify problems or opportunities, and recommend effective solutions.
3. Communication skills: An accountant/business advisor should be able to communicate ideas and recommendations clearly and effectively to you. They should also be able to listen to your concerns and questions.
4. Strategic thinking: An accountant/business advisor should be able to think strategically and help you develop long-term plans and goals.
5. Ethics and professionalism: An accountant/business advisor should maintain a high level of integrity and ethical standards, as they may have access to confidential business information. They should also be professional and respectful in their interactions with you.

Ultimately, whether you need an accountant or an accountant/business advisor will depend on your specific needs and goals as a residential builder.

If you’re looking for more than just basic financial record-keeping and tax advice, and you want someone who can help you grow your business and achieve long-term success, then you should consider working with an accountant who can also serve as a business advisor.

As a business owner it may be time to ask yourself do you have an accountant or do I have an accountant that is a business advisor.  Sometimes just having an accountant is not enough.