Consulting is all about using your expertise to sovle a genuine problem of another person who does not have that knowledge that you have under your belt. Accounting skills is one of such technical knowledge that can be used to make a living out of consulting. Accountants can be fitted in many facets of business and life style in general. I am writing this article because of the fact that I see many accountants still staying unemployed for a long period of time after qualifying as an accountant before finally picking up a paid job that will only take up their time and energy.
People are becoming increasingly in need of financial service and accountants are the most qualified professionals to give this advice. The recent global economic crises has made people to realise the importance of good financial management and this opens a wide new doors of opportunities for accountants and people with financial skills. People need financial management services just like they need to feed in order to remain healthy. All you need to do as an accountant is get your self properly equiped for the numerous challenges that exist in the financial management consulting business.
As the line between accounting and information technology and information processing continues to diminish, systems consulting become a viable option for accountants. Many accounting professional bodies have developed a new credential help equip accountants in this regard. The introduction of AIS in accounting curricular puts accountants ahead of other information processing professionals.
Tax planning in a good way of saving money that businesses and individuals can harness to their advantage. Tax planning is the process of taking advantage of loopholes in the tax law. Note that it is a criminal offence to engage in tax aversion. Tax aversion is the intentional act of businesses and individuals to defraud government of their entitlement.
Internal control consulting and fraud prevention services
Good internal control is the best way to fight fraud and financial crimes in businesses and other entities. Companies are actively looking for people with knowledge of internal control to help them establish and maintain a functional internal control. Accountants that are working from within the company may not necessarily be in a good position to make this happen as familiarity with colleagues may make them not to diligently carryout their operations. Hence, accountants as consultants are the best people for this.
Human capital development service
Humans are the best asset that companies and businesses have and recruiting and retaining the best of them all is usually a challenging task for businesses in this our modern day economy. The investigative and forensic knowledge of accountants makes them most qualified to act as human resource consultant of businesses and companies.
As business and business environment gets more complex, business executives and managers continually seek sound business advice to help them stir the affairs of entities under their care to greater height. The fast knowledge of accountants in business processes and management rightly equips them to judiciously discharge this function. Business owners are willing to pay heavily for this right kind of advisory service and management strategy. Carrying out business valuation through a process known as fundamental analysis is one business opportunity that exists in the area of consulting. Manp people don’t know how to use financial statements for valuation, so, an accountant acn come in from this angle.
I always chuckle when I see qualified accountants seeking paid jobs just to make ends meet while opportunities in the consulting field wait for them. I have not taken any paid job after my graduation till date and I still enjoy most good things of life. I encourage you today to quit snoozing and explore the vast opportunities that exist in the consulting field and fast track your race to financial freedom. Note that your chance of becoming financially free is slim while you work for someone else.
When packaged well, you can even float a company in consulting. Start today by writing an operational and bankable business plan. Your accounting skill is a valuable asset that you must put to work to make you financially free. To your success as a consultant!!