Informative Essay on Benham, Conway and Co. Chartered Accountants Essay Example

Informative Essay on Benham, Conway and Co. Chartered Accountants Essay Benham, Conway and Co. Chartered Accountants was first established in the year 1987. It is based in Charing Cross in Glasgow. It primarily provides general practice services for small and growing businesses, most of which are owner managed businesses. BCC employs eleven staff. Three of these are partners in the company and are qualified accountants. The other eight employees are both qualified and unqualified. They have one person to work on the payroll and the others can do all sorts of jobs from secretarial duties for example typing, receiving phone calls to photocopying as well as having to do all the tedious work for example, inputting data to the computers. The firm provides services in many areas such as strategic planning, management and financial accounts preparation and financial forecasting. It also provides tax planning and compliance and organisational review and in addition to all this it will provide book-keeping and payroll services to clients who require it. One area in which BCC specialise is strategic planning and it can be tricky. Obviously it is easy for the company to use the same as before policy, and maybe it works, but when a company employs the help of an accountants firm it is easier to make a proper plan. In many cases the owner of the business will not have the time to think about and plan what direction he would like to move his business in so instead he can have a consultation with an accountant, express his wishes over lunch or a coffee and the accountant can draw up a detailed strategic plan for the owner and then present it to the owner of the business. We will write a custom essay sample on Informative Essay on Benham, Conway and Co. Chartered Accountants specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Informative Essay on Benham, Conway and Co. Chartered Accountants specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Informative Essay on Benham, Conway and Co. Chartered Accountants specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This saves the business time and they will end up with a better plan as it has been done by a professional. BCC can also present a business with a financial forecast. To do this the accountant can look at trends in the overall market or just in the department the business deals with to make a forecast of what will happen in any particular market. This will help the business to plan (or the accountant to plan for them) what to invest in to make their business operate at the greatest possible profit. It can also let them see if they need to change the direction in which the business is heading to survive. BCC can also help to improve the organisational structure of a company. The organisational structure is critical to any business so obviously those that use BCC will be no different. Nowadays businesses have to be flexible, efficient and effective to cope with the growing competition for the market. To help an accountants firm will try and make an organisational structure best suited to the business targets, try and work out an appropriate staffing level, reward policies and a staff grading system and monitor financial management and performance to try and then will try and think of a better way in which to organise or run the company. Another area BCC can be employed to help in is tax planning and compliance. It can help fill in a companys tax forms so that they are all legal. This can be very useful to a company as some of the owners may not know how to fill in the complicated tax forms required for a business. Getting a qualified professional to do this will guarantee that the company comply with all the rules and regulations surrounding tax forms therefore keeping them out of trouble. In short Benham, Conway and Co. Chartered accountants can benefit small or growing businesses in many ways. It can point them in the right direction to succeed, it can make them run more efficiently at a higher profit or they can even fill in their tax returns for them. BCC has benefited many businesses in the past and should go on to do so for many years to come.