What is the Role of a Certified
General Accountant in Business Success?
Financial analysis is an integral part of business since it helps in analyzing how well business operations are being performed and whether such operations are providing desired results. This is where role of a certified general accountant (CGA) becomes important since a CGA has needed proficiency in managing these aspects. Moreover, CGA can also work on development of strategies which can help you business improve its profitability. In the following sections we will examine main duties a CGA has to perform and how your business can benefit from using services of a certified general accountant.
CGA – A Professional to Manage Varied Responsibilities
A CGA is adept at guiding your business in income tax preparations as well as function as a business consultant. There are several other financial responsibilities they can manage such as:
- Financial accounting, estate planning, financial analysis and reporting.
- Managing corporate finance (comprising of tasks like issuance of shares, mergers and acquisitions, organizing public offerings and other similar tasks).
- Tax planning as well as preparation.
- Forensic accounting comprising of aspects such as detection, prevention and investigation of different types of financial frauds.
- Periodic reporting to regulatory authorities.
- Management consulting as well as performance management.
Tasks Certified General Accountant Performs
Some of the tasks CGA has to perform include:
Perform Internal Auditing: As part of internal auditing a certified general accountant has to check efficiency and effectiveness of various internal controls of your organization. Moreover, CGA needs to examine validity of financial data as well as check mismanagement, likely frauds and wastage. They also have to take necessary steps for proper credit proofing of your company's corporate assets.
Take Care of Managerial Accounting: Another important task of CGA is to prepare financial statements so that company's managerial team can use it. The management team makes use of these statements to take proper investment and other business decisions. Moreover, certified general accountant has to make sure that all budgetary constrains are adhered to, prepare budget as well as plan strategies which would lead to business success.
Carry Out Tax Accounting: The benefit of using services of a CGAs is that they can plan different tax strategies which can help in reducing as well as avoiding unnecessary expenses. In addition to it, they keep themselves updated with changes taking place in tax laws so that necessary steps can be taken to modify your firm's tax strategies according to changing tax laws. All these steps help your organization reduces taxes that are to be paid and also facilitates improved cash flows.
Advantages of Appointing a CGA
CGAs are adept at performing different activities, making them quite useful for any organization. Let us go through some of the other advantages of using services of a CGA.
- Accounting Expertise: Excellent knowledge of accounts helps them perform varied analytical tasks effortlessly. They also have proficiency in using different planning tools and ERPs.
- Wealth of Experience: Right from accounting services to financial management, CGAs are able to handle many different tasks with relative ease.
It is quite clear that CGAs are able to manage several different activities, proving to be quite useful for company's looking to excel in their business endeavors.