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An Extensive Range of Services Provided In United Kingdom, Chartered Certified Accountants originally worked only in public practices, selling advice and services to other individuals and businesses, but today in addition many work within private corporations and government bodies. Furthermore, according to European Union's Mutual Recognition Directive, Chartered Certified Accountant is EU legally recognized accountancy qualification and could practice in all member countries of the European Union, European Economic Area and Switzerland. (For more details regarding the legal recognizations of Chartered Certified Accountant qualification worldwide, please refer to the page of ACCA.) Since Chartered Certified Accountants are independent business advisers, they are in a position to help the clients build and develop their businesses. Chartered Certified Accountants can offer an extensive range of services. Some of the types of services they may offer are listed below. A. ACCA Business Navigator providers To help the clients achieve a well managed forward-looking business ACCA has developed this packaged assurance product, which is offered by accredited firms. The aim is to make significant performance improvements to the clients business, to help identify practical solutions and to implement change. This service is aimed at providing value-added services to help the clients achieve business success in a challenging economic climate. Five key areas are analysed: better cash flow, improved profitability, higher returns to owners, improved long term stability and reduced compliance and business risk. ACCA Business Navigator accredited providers are listed, and are indicated by the symbol . B. witness|Expert witness work ACCA has a register of expert witnesses who meet stringent criteria - all hold ACCA practising certificates, have undertaken suitable litigation training, have had experience of acting as an expert witness, and have been able to provide references from two solicitors who have engaged them. C. Insolvency|Insolvency work If the clients are facing the possibility of personal bankruptcy or corporate insolvency, an ACCA licensed insolvency practitioner can provide the clients with invaluable advice. If professional advice is sought as soon as the signs of trouble appear, then insolvency/bankruptcy may be avoided. If the clients are a trade creditor and are concerned about a debtor or have been told that a debtor is insolvent, a licensed insolvency practitioner can investigate and advise on the best course of action. To become an ACCA licensed insolvency practitioner, stringent criteria must be met and an ongoing experience requirement must be achieved if the licence is to be renewed each year. D. Advice on starting up a business ACCA business advisers may offer advice on the legal form most appropriate to starting up a business. In addition they may advise on related legal and taxation issues, business plans for presentation to banks, and what you should expect when starting up a business. E. Accounting and Bookkeeping Advice can be provided on setting up business systems, from basic bookkeeping (cashbook) to comprehensive management reporting. Some accounting firms will undertake the bookkeeping function, which may also include VAT return preparation. Practitioners can also assist in the preparation of year-end accounts. F. Advice on running and managing a business Both ACCA practitioners and non-executive directors (NEDs) can provide independent advice to managers of businesses; such help can be used in a variety of ways, including: G. Taxation|Tax - statutory requirements and planning opportunities ACCA business advisers are able to offer advice on tax including corporation tax, income tax, capital gains tax, PAYE and VAT. In addition, business advisers can also offer tax planning advice and minimise your tax liability now and in the future. H. Management accounting ACCA business advisers may set up systems to ensure that the clients know how their businesses are performing. Additional services offered include budgeting and performance monitoring and helping to ensure that a business runs in a smooth and efficient manner. I. Corporate finance ACCA business advisers may offer advice on how to finance a business and how to buy or sell a business, as well as other related considerations. J. Audit|Auditing a company ACCA business advisers, who are registered auditors, may audit a company's accounts - such an audit may, in some circumstances, be required by law. K. Investment|Investment advice Advice may be sought on pensions, unit trusts, life insurance etc., from advisers authorised to give investment business advice. See also | |||||||||
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