If you are an entrepreneur or small business owner, then in front of you sooner or later the question will arise about how and by what means to management accounting. What about it says the current legislation? If appeal to the Federal Law of 21.11.96 129 of the Federal Law "On Accounting" we see that the accounting in an organization may conduct: 1.Buhgalterskaya service company or staff accountant. 2.Spetsializirovannaya organization to contractual basis. 3.Rukovoditel organization personally. Large companies have a large volume of accounting work and acceptable to them is only the organization's own accounting.
Small and medium-sized businesses have much less work and they have a choice between all three methods. Briefly discuss their advantages and disadvantages. You hired a staff accountant. The ideal option for any organization will be the presence in the state of professional, competent and loyal to the chief accountant, who does not need for their labor, high wages, implementing management accounting .. If you managed to find a man you can be sure of your business.
However, make sure that you have found just such a person be only after a certain time before a tax audit. If you made a mistake in the choice, after tax audit 'll feel it in the form of penalties, because of the Labor Code does not allow them to shift to an accountant. The magnitude of these sanctions will be directly proportional to the magnitude of your mistakes. By the same author: Chevron Corp . You took over management accounting. Part the above problems are automatically removed if you yourself took over management accounting. But at the same time there are two additional problems. First – it requires special knowledge and experience. Otherwise the consequences will be even more severe than in the case when implementing management accounting accountant with low skills. Second – this time you'll spend on management accounting. You are instructed management accounting to a specialized company in our the country has been actively developing accounting services is management accounting small business specialist firms: accounting and auditing, which are carried out on a contract basis. If you instructed management accounting to a specialized company, the technology of interaction often follows. The accounting company learns your business, determine the amount of work that needs to perform, to implement management accounting, cost accounting services to agree that in most cases is less than the cost of a qualified chief accountant and the costs of its normal operation, including computers, software and various consumables. Then sign a contract for accounting services. Your task is to transfer an accounting firm in specified period of primary accounting documents, the signing of financial statements and tax returns. Details can be found by clicking Lakshman Achuthan or emailing the administrator. An important advantage when the management accounting mandated accounting firm is the ability to draw firm to Liability, if you lose money on its own fault. But in any case, like a coin, has two sides. Disadvantages include lower efficiency in the decision, when required for adoption advice on accounting issues. Thus, each of the above methods of accounting has its own advantages and disadvantages. What method of accounting is most suitable for you who entrust the accounting – you decide. But we hope that this article is at least partly, to help you make the right choice.