Why Accounting is Broken: A Better Approach to Business Finances
Hi there. Welcome to today's episode of Better Business Insights. Today We are going to talk about why I think accounting is broken because it's important for you to understand that accounting hasn't always been the big, scary monster that often people find it to be. Accounting can be many other things. It's about collaboration between the numbers and your mindset about your business. It's about collaboration between an accounting type person and you the business owner, because without collaboration, you can't use the numbers to get better outcomes from your business. Use those numbers to tell you what's working and what's not working in your business. Whether you're paying too much tax, whether you're paying too many wages, whether you haven't got a big enough margin? All of those things are discovered when you work through the numbers. Often, after you get the tax return back, that might be when you're looking at your numbers. That's not enough - That type of accounting is the accounting that I think is broken. So, reach out to your accounting professional, and start looking at your numbers today. We hope you enjoy them because that's what we are here for. Thank you.
Accounting can be many other things. It's about collaboration between the numbers and your mindset about your business. It's about collaboration between an accounting type person, and you the Business Owner, because without collaboration, you can't use the numbers to get better outcomes from your business. Use those numbers to tell you what's working and what's not working in your business, whether you're paying too much tax, whether you're paying too many wages, whether you, haven't got a big enough margin. All of those things are discovered when you work through the numbers. Accounting often after you get the tax return back, that might be when you’re looking at your numbers. That's not enough. That type of accounting is the accounting that I think is broken. So, reach out to your accounting professional, and start looking at your numbers today. Want to know more ?
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