For lots of business owners, accounting is a murky trade that many have a lot of doubts about. Most accountants may be great with numbers, but then that is not the entire story. There are a whole lot of misconceptions that are doing the rounds of business circles and those who want to start an accounting business in Thailand.
1. The accounting trade is full of people who just crunch numbers and are boring. Other professions such as an MBA have been able to steal some thunder off accounting and are considered modern and suave professions. The fact remains, accounting is a true blue profession that has a lot of good pay and can actually be fun given the importance of software and the digitization phenomenon. Accountants can resort to cloud accounting techniques and do not use spreadsheets anymore.
2. A lot of people imagine that accounting is a big business activity that involves managing money of a big scale and is about paying taxes, skipping some and managing every dollar that comes your way. While most of this is true, it may be argued that accountants are needed in small businesses too. A solid business plan takes shape when accountants sit together and brainstorm.
3. Many large global accounting firms, some British and some American have got into an accounting mess in recent years. While the report card is not good for some in this profession, most firms are still competitive and accountants are doing well to keep a competitive edge despite the state of affairs. Accounting firms don’t charge a bomb if you employ them makes sense to have one roped in to keep taxes low and also follow laws and regulations well. You do not want to overpay taxes, right?
4. Accounting is all about balancing the books, is a cliche that has been played over and over again. Accountants do balance the books but that is simply not all they do. They also help you stay complaint with laws at all times and also inform you about the regulations in your trade. They will also sort out matters if you ever have problems with the tax officials. A solid business plan is often chalked out and some firms even help you network with competitors and others in your industry.
5. A lot of people still regard accounting as an old profession that has done little to reinvent itself. This is simply a myth that needs to be broken. A lot of accountants are very up-to-date with latest industry trends and will tell you about doing business the new age way! There are new software that are doing the rounds of business. Cloud books is an interesting software that is fast embracing new and better methods of doing business, transacting profits and helping maintain a steady profile in any industry. A lot of accountants have accepted technology wholeheartedly and the results are here to show!
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