WHAT MORE CAN WE DO FOR YOU THIS INTERNATIONAL ACCOUNTING DAY?

International Accounting Day is celebrated on November 10 every year. The day is all about acknowledging the role of accountants in supporting businesses and the economy – at local, national and global levels.

ACCOUNTANTS SUPPORTING THE ECONOMY
Accountants are integral to any economy, as they:

• Enable strong, sustainable, and inclusive global economic growth through quality financial reporting, auditing, and ethical behaviour.
• A greater number of accountants correlates to better economic performance in each measure reviewed in IFAC research.
• Accountants who are members of professional accountancy organisations (like SAICA), make an even more meaningful contribution, correlating to even stronger performance on the economic indicators.

Source: The International Federation of Accountants (IFAC)

ACCOUNTANTS SUPPORTING BUSINESSES
At the risk of tooting our own horns, now seems a good time to remind you of the many ways that we help businesses to not only survive but also thrive. We can do this by:

• Translating companies’ financial data, so all stakeholders can “understand the numbers”, using accounting, aka the “language of business”.
• Monitoring, recording and reporting business performance.
• Keeping track of finances to help you manage cash flow.
• Enabling accurate budgeting.
• Ensuring compliance with laws and regulations to help you avoid penalties.
• Managing payrolls.
• Optimising your tax affairs.
• Facilitating informed, data-driven decisions by providing understandable financial reports that help you to:
  • identify the most profitable products or services
  • optimise spending
  • allocate resources to high-growth areas.
• Enabling accurate forecasting of revenue and expenses, and informed financial planning.
• Detecting and preventing fraud by identifying red flags and investigating suspicious transactions.