By trade I provide accounting services. However, by design I provide financial management services. Are they the same or different? Let’s define.
Accounting services is pretty straight forward. It includes bookkeeping, financial analysis and often time’s taxes are included in this category as well. The services are provided using the application of general accepted accounting principles.
Financial management is the process of planning, organizing, directing and controlling the financial activities and accounting services. These services use the application of a combination of general management principles and general accepted accounting principles.
So what does all this mean to you as a business owner? It means that you need to determine the level of service you want for your business and then hire the appropriate person to do the job.
What financial services do you need help with in your business? Do they require an accountant or a financial manager?
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