Are bookkeepers the next financial planners?
SMH My Small Business 27th Feb 2015
"Bookkeeping is the instrument that gauges of the lifeblood of every business by recording income and expenses. As such I believe high standards of bookkeeping are essential. It underpins and aids the success of any business, small or large," says Peter Horsfield from financial advice firm Smart Advice.
He explains the most important benefit good bookkeepers provide business owners is information about their own business, so that they can proceed with, or decline, opportunities presented to them with greater confidence, based on real information about their business performance.
"Bookkeeping plays such an important role in aiding reporting and decision making processes in a business, better regulation of this role is important and would have flow-on benefits for consumers, business owners and bookkeepers," Horsfield says.
It would mean bookkeepers would receive recognition as an important profession in their own right. It would encourage better professional advancement by allowing them to more closely partner with accounting bodies.