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Thread: Accounting Business Advice

  1. #1
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    Apr 2014
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    Default Accounting Business Advice

    Hello Everybody,

    Sorry for being so quiet lately -- tax season hit me pretty hard.

    In any case, I had a client today ask me for a bit of clarification on the difference between the different types of accountants out there. So here it goes...

    Tax Accountant -- the one we are all familiar with. Tax accountants deal with year-end taxes & tax strategies that will help you reduce the taxes you owe when year-end comes around. They do not manage your financials through-out the year and it is a disastrous mistake to assume that they do.

    Operational Accountant -- the lesser known field of accounting, but a vital one. These are the accountants who act as your Controllers & CFOs. Their area of expertise is managing your cash flow, profit margins, company risk, and forecasting your financials. They will work with your tax accountant, but do not file taxes themselves.

    Bookkeepers -- While not technically accountants, bookkeepers perform a vital role in a company. They log and classify all your financials so Operational & Tax Accountants can help you with financial advice and planning. However, they cannot provide financial feedback, interpret financials, or anything of the sort.

    Well, I hope this helps!
    Tran Nguyen
    Accountant
    Tran'sActions Accounting, LLC

  2. #2
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    Nov 2016
    Location
    Australia
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    Well sometimes our clients are also confused about our accounting service because they just know accounting but they don't know that accounting has many parts. So we are explaining everything to them part by part. The 3 mentioned in your topic are all accounting but in different aspects, i think i can use this one to explain to our client in detail on what are the accounting parts such as tax and bookkeeping. Thanks btw!

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