Busted! Don’t Believe These Accounting Myths!

Accountants take care of their client’s financial statements to ensure accuracy and that the records comply with the legal laws. Their job entails computing and preparing taxes as well. However, there are several myths floating around about accounting and accountants, in general, that are misleading. The reason is that an accountant’s duties may seem the same as a bookkeeper’s, but their job duties and specific expertise are different.

So to help you steer clear of these misconceptions, Denali Accountants has debunked two of the most widely believed myths about accounting.

Myth 1: You can save money by hiring bookkeepers instead of accountants
It is a myth that a bookkeeper can do an accountant’s job. You should remember that even if these professionals work in a similar field, their area of expertise is different. Accounting is a specialty, and accountants have a much higher level of proficiency than bookkeepers when it comes to accounting matters. Hence, it is always recommended that to get the desired results, you should hire an accountant, even if they are more expensive, as, in the long run, they will save you a great deal of trouble and money.

Myth 2: Financial statements can be managed by anyone
On the surface level, it may seem that managing your financial statements is easy, as all it takes is a couple of records of your financial transactions. But you should remember that accountants are experienced, trained professionals, and their level of expertise sets them apart from others. Without proper training, a current grasp, qualifications, and understanding of the financial world, you can’t possibly manage your financial statements, which is why it is recommended that you should only hire an accountant to take care of your financial statements.

If you’re looking to steer clear of these myths, reach out to Denali Accountants as the leading remote cloud accountants and bookkeepers based in Richmond, BC. We are a women-owned company with thirty-plus years of experience in accounting, bookkeeping, tax, and payroll services and also your QuickBooks Pro advisors. We specialize in providing consulting, advisory, accounting, and bookkeeping services to mid-size and large businesses covering a variety of industries like cannabis, real estate, restaurants, contractors, and professionals.

For a complete list of our services, please click here. If you have any questions about Denali Accountants, we’d love to hear from you, please contact us here.