The traditional perception of Chartered Accountants in India is focused on the financial and legal standpoint of a person or company. But times are changing, as we are tapping into Industry 4.0 with smart manufacturing, process automation, and cloud computing.
Today, for a modern CA firm in India like MPVD & Associates, a normal weekday involves much more than conducting tax audits and bookkeeping. We are overly busy with the responsibilities of consolidating different solutions owing to tax planning, financial audits, company formation, corporate restructuring, and lots more. As a leading tax consultancy in Kolkata, we also help our clients with full-fledged business incorporation and mergers and acquisitions.
Streamlining the financial health of companies in India, we deliver strategic planning to establish a solid business ecosystem that is organized, compliant, and truly world-class. Speaking for ourselves, this article will further explain how the role of chartered accountants has evolved in the age of Industry 4.0 and globalization.
Beyond Financial Statements: How Modern Chartered Accountants Are Creating Opportunities in Domestic and International Trade
Digital businesses and borderless economics can make the most of industrial knowledge and trends. But there is a gap in the process where chartered accountants, despite having the vital strength of in-depth knowledge about market trends and opportunities, are often tangled in accounting, tax, and company law-related matters.
Tax management automation eliminates a lot of human effort and saves time for chartered accountants, reducing manual work and enhancing protection against Government compliance problems caused by severe errors in tax filings.
This frees up CA professionals to add bonuses for improved strategic services while ensuring that businesses get real-time access to company finances.
This is more valuable for developing tailored strategies for bridging gaps in operational and financial processes. CA Professionals can leverage their market knowledge to identify risk factors, engage in bigger opportunities, and develop strategies for higher growth.
Financial Leadership Offered by Chartered Accountants
Business managers and owners can make wise decisions based on up-to-date financial information when they have real-time visibility into their financial data.
Big, multinational companies hire chief financial officers (CFOs) for financial leadership and to inspire the future of the company. If you are a small to medium business, the role of a CFO might be too over-the-top and the cost too expensive for your company. You can do so much by hiring a chartered accountant.
You never know how your cash flow and balance sheets can reveal valuable insights into the health of a company. By channeling such insights and making use of new schemes like the MSME single point registration scheme and other policies like those offered by The Startup India portal, you can aim for the skies.
Company Formation with MPVD & Associates: From End-to-End Legal Setup to Finding The Right Office Space
When is the right time to consult a chartered accountant about setting up a business?
The traditional concept would say⸺ that when you are ready to register your company!
But modern concepts say otherwise.
Entrepreneurs must consider having a chartered accountant in place right from the start, or when they are ideating the business plan.
At MPVD & Associates, we entertain clients from different industry domains who seek our help to gain knowledge about business loans and the best practices for pitching business ideas to an investor.
Serious and conscious decision-making aids business owners in building a strong portfolio right from the start, avoiding fraudulent and misconducting involvements, and enjoying a stable and clean growth process.
- Legal setup for businesses: it involves all the legal procedures associated with company formation, including company registration, GST registration, and other tax registrations under Excise, ESIC, and Foreign Trade.
- Physical setup for businesses: At MPVD & Associates, we will also help you find appropriate office space, assist with lease agreements, and generate your corporate address.
- Ongoing Services: Once your company is successfully incorporated, we will further keep up with our ongoing services, which include secretarial services, end-to-end tax planning, filing, consulting, company and business compliance services, and tailored support for legal needs.
New companies need to keep their heads in the game of getting more projects and gaining a strong market foothold. In this phase, it is detrimental for chartered accountants to keep the processes of expense management, payments, and investments noise-free. There are so many instances where new businesses get involved in scams and malicious perpetrators. Our job is to keep guard against such unsolicited approaches.