Accounting consulting: definition, service features

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

The activity of any enterprise is connected not only directly with the production of goods, the provision of services and the performance of work. The manager has to solve a complex of organizational and managerial tasks.

Not every company has the means to maintain specialists in legal, accounting, investment and other issues. In such situations, consulting companies come to the rescue. Accounting consulting is considered today one of the promising areas in business. Consider further what it is.

General information

Consulting is a set of measures to advise management personnel and other employees on various issues. It includes analytics, a study of the prospects for the development of the company, the study of the resources and reserves of the organization.

There are quite a few firms on the market that deal withbusiness processes. The need to contact them may be due to various reasons. For example, accounting consulting services are in demand if the company does not have a specialist or reporting department.

Historical background

Companies involved in accounting and consulting began to appear in Russia at the end of the last century. This was due to changes that took place not only in the economic, but also in the political system of the country. In the early 90s, about 20 consulting companies operated in the Russian Federation.

With the transition to a market economic model, consulting services have become very popular. At the same time, their quality has improved significantly. Of course, competition has increased; foreign firms entered the domestic market. Domestic companies, seeking to maintain their place in the market, began to actively improve their activities. As a result, the sphere of consulting services has moved to a qualitatively new level.

Characteristics of companies

Firms that provide consulting services are the company's consultants on the most pressing issues for it. It is worth saying that these companies are not responsible for the actions that the management of the organization will take based on the recommendations.

Fields of activity

In general, the following areas of work of consulting firms can be identified:

• Providing assistance in solving managerial and organizational issues in problematic areas of activity.
• Counselling.
• Planning administrative and organizational activities.

There are several principles that guide consulting companies:

• Using evidence-based knowledge.
• Active use of information technology in their activities.

Specialists of the consulting firm can offer their idea if it helps to solve the customer's problem.

Classification

It is carried out depending on the area in which the assistance of a consulting company is needed. The range of services of modern firms is quite wide. In this case, the client can choose either one or several of them. In addition, it is possible to use the full range of works.

For example, it can be accounting, auditing and consulting. In this case, the consulting company is engaged in maintaining documentation, its analysis and consulting on reporting issues.

A related direction is financial consulting. It may include various services. As a rule, a consulting company conducts an audit, identifies problems, determines prospects, formulates recommendations for the manager on profitable investment, measures aimed at strengthening the financial position of the enterprise.

In addition, consulting is highlighted:

• Managerial.
• Personnel.
• Investment.
• Expert.
• Educational.

Accounting and tax consulting

Its purpose is not only to increase the efficiency of accounting for business transactions at the enterprise, but also to control the correctness of their reflection.

As a rule, highly qualified specialists are engaged in accounting consulting. The need to address them is due to the fact that the current legislation on accounting, taxes, and payroll is quite voluminous. At the same time, its adjustments are constantly taking place, for which the management of the enterprise does not always have time to follow. In addition, there are many gaps in the current legislation, and it is sometimes quite difficult for a non-specialist to understand any controversial issues.

Accounting audit and consulting are demanded services on the market. Not every leader is ready to spend his time and energy on dealing with the provisions of the PBU or Tax Code. At the same time, finding a good accountant can be quite problematic.

Accounting consulting firms help solve pressing issues related to reporting. In addition, they can recommend a trusted specialist.

Accounting consulting is not just consulting. It involves a detailed analysis of issues related to reporting, with references to the current legislation. It is important for a consulting company that the customer understands the information so that he receives reasonable and detailed answers to his questions.

Special attentiondevoted to tax matters. As you know, violations of the Tax Code entail liability. However, quite often, business entities commit illegal actions due to banal ignorance of the intricacies of the law. Consulting companies help to prevent problems and solve existing ones.

Directions

Accounting consulting includes:

• Registration with the IFTS.
• Reporting, including for special regimes.
• Restoration of accounting.
• Tax optimization.
• Formation of reporting (tax, accounting).
• Solving accounting issues, including servicing the activities of the accounting department at the enterprise.
• Checking compliance with the law when making business transactions, analyzing their feasibility.
• Control of the availability and movement of property, the use of financial and labor resources.
• Assessing the correctness and timeliness of settlements with suppliers and other counterparties, with employees on wages, with the budget for fees/taxes.
• Advising on IFRS reporting.

In addition, specialists of a consulting company can analyze the correctness of accounting in the 1C automated system.

Start interaction

As you can see, consulting companies solve quite complex problems. Accordingly, specialists must have the necessary qualifications, experience, and knowledge. Choosethe right company is quite difficult. Experts recommend consulting with business partners who have already applied to such firms.

Interaction with a consulting company begins with an initial consultation. According to its results, an agreement is concluded. The parties to the document establish:

• Terms in which consulting services will be provided.
• List of events.
• Size, payment method.
• Obligations of the participants in the transaction.
• Conditions under which the amount of remuneration may change.
• The procedure for terminating the contract, including early termination.

The contract can be concluded for a short or long period. This will depend on the nature and complexity of the problem.

Workflow

After the signing of the contract, the collection of information necessary for the effective solution of the task begins. At this stage, the consulting firm should assess the severity of the problem.

The next step is to develop a solution. This stage of work can be considered the main one. The tasks of specialists include drawing up a plan for effectively solving the problem. In this case, as a rule, several options are formed, from which the most effective and economical one is selected.

The next stage is the implementation of the solution and control over the implementation of the plan. Employees of either a consulting company or employees of a customer enterprise can monitor the accuracy of compliance with the plan. In the latter case, employee trainingorganizations.

Evaluation of the result

It is worth saying that it is far from always possible to evaluate their effectiveness immediately after the completion of events. Quite often it takes some time to pass. However, in any case, the summing up will be done by the head together with the employees of the consulting company.

If production indicators have increased, the profit of the enterprise has increased, the final settlement is made with the contractor.