Mollart & Co

Mollart and Co Accountants

The business's Accounts are a document that for many smaller business proprietors are regarded as a necessary evil. Why when they are actively involved in the day to day operation of their business and are full aware of the strengths and weakness, opportunities and risks that they encounter on a daily basis should they have to devote valuable resources to producing accounting information and maintaining business records?

A simplistic answer is to say because people like the taxman, the vatman and the bank manager require them.

The danger is that they are regarded as a historic document that has little relevance to what is happening now, today and this is in our view an opportunity missed. For many small business owners their opportunity to step back and look at what is happening in their business objectively rarely occurs. They are committed to the daily cycle of dealing with customers, suppliers, staff or whatever the factors that makes their particular business function. They know that preparing a plan and monitoring what is happening against that plan makes sense but more often than not the opportunity to do this never occurs. We believe that the accounts preparation function should not just be about satisfying those external organisations that require information it should also be about taking the opportunity to review what has happened in the year and form part of an ongoing dialogue between the business proprietor and the business advisors.