Business Advisory Services vs Traditional Accounting Services: Which One is Right for You?

Apr 24, 2023

Business Advisory vs Traditional Accounting

The choice between business advisory services and traditional accounting services depends on your specific needs and goals as a business owner. Both types of services can be valuable, but they differ in their focus and the types of expertise they offer.

In the past I had been frustrated by the fact that all service efforts were focused on lodgements of tax returns and not on services that provide real value to clients. Which is why 7 years ago, I decided to play by different rules and place a large emphasis on delivering a more holistic approach for our clients.

Traditional accounting services typically involve tasks such as bookkeeping, financial statement preparation, tax compliance, and audit support—which is of course something we do super well (ensuring your financial records are accurate and compliant with regulatory requirements.) However, traditional accounting services are generally reactive in nature, meaning they focus on recording past financial transactions rather than providing strategic guidance for future growth.

Business advisory services, on the other hand, are proactive in nature and focused on providing strategic guidance to help you improve your business performance and achieve your goals. These services may include financial forecasting and analysis, strategic planning, risk management, and process improvement.

If you are looking for help with day-to-day financial tasks, such as bookkeeping and tax compliance, traditional accounting services may be the right choice for you. However, if you are looking for strategic guidance to help you grow your business, business advisory services may be a better fit.

Ultimately, the choice between business advisory vs traditional accounting services will depend on your specific needs and goals as a business owner. A bespoke approach is what we do best. Come and see us and let’s discuss our business advisory vs traditional accounting services.


  • Suzanne Walker

    Suzanne Walker is the founder of one of Australia’s leading public accounting firms, Clear Path Accounting, and has built her results-based reputation as a transformational business advisor over the last 25 years. She holds the philosophy that accounting is more than just tax returns and compliance and believes that accountants can have a profound impact on the lives of their clients.

    Suzanne began her career after completing her degree in Commerce from the University of South Australia. She started out working for a large accounting firm in Sydney before deciding to make the bold move of starting her own practice. Since then, she has helped countless business owners achieve their financial goals through her sound advice and guidance.

    Establishing a career as a young mum of three, in a male-dominated industry has also gifted her with a passion for helping other women in business. Motivating her to co-create courses and business mastermind groups specifically to empower women with the skills they need to find their own version of success.

    In addition to her work at Clear Path Accounting, Suzanne is also the Vice President of the Penrith Valley Chamber. She regularly attends and often hosts meetings, events and seminars, in an effort to support others in her local business community.

    Suzanne is passionate about helping her clients achieve financial success, taking a personalised approach to every engagement. Her dedication to her clients and her commitment to excellence have made her a trusted advisor to many businesses in Australia.