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.