What are the Important Services of a Chartered Accountant besides the Traditional Services

The accountancy profession has seen a rapid growth in the recent times, it is mainly because of the change in economic growth. The important types of functions performed by the various auditor firms in Chennai and other places are the following,

Accountancy
Accountancy means having writing up of accounts and also preparing financial statements. It includes a wide range of services from simple bookkeeping to other financial analysis.

Auditing
Auditing is one of the most important functions of a Chartered Accountant, as it amalgamates different skills such as specialized training, and judgment. Auditing helps show a true view of the affairs of the organization.

Taxation
A Chartered Accountant has immense experience in accounts and helps prepare the returns for tax purposes, representing assesses before the Income-Tax authorities and offering general advice on taxes to his clients.

Cost Accountancy
A Chartered Accountant helps to determine the varied costs of production and of processes at various levels of operations in manufacturing product and helps in the rendering a service. He/she provides costing information guiding the management and also provides cost control methods that would help the management in providing the right selling prices.

 Company Work
Chartered Accountants provides the perfect financial structure and the liquidation of limited companies.  They also undertake secretarial and registration work along with the duties of a receiver besides other company work.

Investigation
Chartered Accountants sometimes carry out investigations to find out the financial position of business in matters such as the purchase of a business, reconstructions, and amalgamations. Their services help in providing an efficiency in management or administration etc.

Companies Secretarial Work
In a group of companies, the Secretary is a man who comes with a professional qualification such as chartered accountancy. This helps the professional accountants to offer the right secretarial services to small companies.

Executors and Trustees
A Chartered Accountant often carries out the administration of the estate or settlements and he/she is an appointed executor under a will or trust. Here the chartered accountants need to work in tandem with the lawyers or solicitors. Lawyers too carry out different works to provide them the right assistance in the accounting part of their work.

Management Accounting
In this field too a Chartered Accountant is regarded as invaluable. He/she offers a number of services such as everyday control,  formulation of policies,  performance evaluation and so on.

So, an audit firm in Chennai or other cities of the country has numerous services to offer besides the more traditional services. No wonder, the need for a chartered accountant has been on the rise.