What do Chartered Accountants do?

 What do Chartered Accountants do?

I had heard somewhere… that

CHARTERED ACCOUNTANTS MAY NOT BE THE KINGS BUT THEY DEFINITELY ARE THE KING MAKERS…..!!!!!

“Chartered accountancy will be the last required profession when you want to build a civilization, but it will be the first required occupation when you want to develop a civilization”

In this answer , I’m not gonna list up the names and types of services provided by a CA…those are available on google, but will try to make you understand what is the importance and requirement of those services, obviously along with the names of the services.

A Chartered Accountant is a technically a doctor of finance. The CA can be a one stop solution to almost all the problem one faces while managing his/her wealth and can help one being far more richer if the CA is trusted and believed

Following are the areas in which a CA can be helpful in guiding you and helping you create an empire, or maybe sustain one….

1. Managing Your Finance
   This area majorly includes various services such as Project Report, CMA report, Debt Restructuring, Capital Budgeting, Forex Management Etc. A Chartered Accountant definitely has a great in-depth knowledge of all these fields pertaining to the subjects like Financial management and Strategic financial management embedded nicely in the curriculum and would definitely help your money make money for you.
2. Checking Compliance
   From Returns to Challans, a CA shall do it all…… When it comes to completing the compliance , be it ROC, Income Tax, TDS, GST ,Customs or any other international compliance, a CA has an all round knowledge about the various due dates and the required forms and some strange online procedures required to complete the compliance and can let your business function smoothly
3. Pillar of Trust
   A Chartered Accountant is entrusted by the Government of India to Audit and check the books of accounts and Financial Statements of any business and determine the validity and Accuracy of the Figures. However, there is a big stereotypical mindset in the heads of business owners that AUDIT IS JUST A FORMALITY….. which is one of the most dangerous mindset for a business owner, as Audit not only helps in identifying any discrepancy, but also helps in cutting the unnecessary costs and increasing the profitability of the business. Thus, if Audit is understood more as a positive procedure then a hated compulsion… things shall actually change.
4. Your International Ally
   A Chartered Accountant is well versed in various international taxation rules and Foreign Exchange management act and rules and hence shall be your strongest ally when it comes to doing business abroad or opening a company or a branch or expanding your business abroad. As because a CA shall help you starting from getting a LUT/LOC , to clearing custom compliance, managing Forex and upto saving your tax from international operations. A CA has the total knowledge of the taxation and compliance related formalities relating to foreign countries.

Thus, a CA can help you grow your business multiple folds but, if and only if his knowledge and wisdom are respected and properly understood and followed and a CA can definitely be a one stop solution for all your business problems…..except sales…that’s on you..!!