{"id":5540,"date":"2024-03-07T10:00:07","date_gmt":"2024-03-07T18:00:07","guid":{"rendered":"https:\/\/berkonomics.com\/?p=5540"},"modified":"2024-02-23T14:58:08","modified_gmt":"2024-02-23T22:58:08","slug":"do-you-really-need-an-accountant","status":"publish","type":"post","link":"https:\/\/berkonomics.com\/?p=5540","title":{"rendered":"Do you really need an accountant?"},"content":{"rendered":"<p><strong>First, let\u2019s be sure we define our terms.<\/strong><\/p>\n<p>Accountants are trained, certified and usually quite experienced in financial analysis, both<img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-3279\" src=\"https:\/\/berkonomics.com\/wp-content\/uploads\/2018\/01\/bean-counter1.jpg\" alt=\"\" width=\"224\" height=\"224\" \/> creating and reviewing data.\u00a0 Bookkeepers are often trained on the job although sometimes more formally and handle the physical work of accounting for the transactions.\u00a0 To expect a bookkeeper to provide analytical planning is to ask for something they often cannot provide, except in a cursory way.<\/p>\n<p>We need to repeat this distinction on occasion, because there is a considerable difference between the cost of a bookkeeper and an accountant.<\/p>\n<p><strong>Why bother with this<\/strong>?<\/p>\n<p><span style=\"color: #993300;\"><em>[Email readers, continue here&#8230;]\u00a0<\/em><\/span> \u00a0 Many early-stage founders and CEOs believe they can delegate design and creation of metrics, flash reports, analytical reports and more from their bookkeepers.\u00a0 And at some early stages, a bookkeeper can prepare such information.\u00a0 It does not take long for a growing business and a knowledgeable CEO to quickly outgrow the lack of depth and sophistication such reporting usually offers, looking instead for deeper analytical tools.<\/p>\n<p><b>On the other <\/b><span style=\"color: #000000;\"><b>hand,<\/b><\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-3884\" src=\"https:\/\/berkonomics.com\/wp-content\/uploads\/2019\/07\/Help-me1.jpg\" alt=\"\" width=\"285\" height=\"177\" \/>Many early-stage CEOs are not trained and ready for such tools even if available.\u00a0 The lesson here is twofold.\u00a0 There is a benefit to using a good accountant to help devise critical reports for a corporation; and CEO\u2019s must quickly become financially savvy in the analysis of financial statements and metrics that measure the health of a business.\u00a0 To fail to have this skill is to reduce the corporation\u2019s capability to discover problems early and take advantage of growth opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>First, let\u2019s be sure we define our terms. Accountants are trained, certified and usually quite experienced in financial analysis, both creating and reviewing data.\u00a0 Bookkeepers are often trained on the job although sometimes more formally and handle the physical work &hellip; <a href=\"https:\/\/berkonomics.com\/?p=5540\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[8,20],"tags":[],"class_list":["post-5540","post","type-post","status-publish","format-standard","hentry","category-depending-upon-others","category-protecting-the-business"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/berkonomics.com\/index.php?rest_route=\/wp\/v2\/posts\/5540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/berkonomics.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/berkonomics.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/berkonomics.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/berkonomics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5540"}],"version-history":[{"count":0,"href":"https:\/\/berkonomics.com\/index.php?rest_route=\/wp\/v2\/posts\/5540\/revisions"}],"wp:attachment":[{"href":"https:\/\/berkonomics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/berkonomics.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/berkonomics.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}