Essay Example on What does a business consultant Do

What does a business consultant do Every business in the world needs proper business accounting models These models are of different types The accounting firms are the bodies which carries out these functions The business entity provides all the necessary information to the firm Then firm analyses the information and prepares one standard account book This consists of sales purchase profit loss tax loans etc All the accounting information is represented in a perfect manner The accounting firms also suggest changes in business strategies These suggestions are from the accounting books Business growth may increase by changing the method and applying the suggestion Recently we are witnessing a trend of business consulting service Many business entities want to adapt to newer methods to increase their business growth This even applies to small scale industries and business Traditional consulting compliance In a business the consulting compliance plays a very big role The governments have ordered business entities to audit their business Then express the business transaction in a systematic manner 

Traditional accounting method of compliance and reporting was helpful for big and multinational companies In this method companies can maintain a balance by having consistency risk management efficient process and risk mitigation This will help the business to increase their value in the global market How does it work The process includes different steps Each step is governed and verified by an accounting firm To make sure compliance is in order it is necessary to have followed these steps 1 Recording all the business transaction 2 Verifying the transaction 3 Recording all the transactions properly 4 Reporting of all the transaction The firm will report the company's values in terms of company's debts assets expenses and liability Here they maintain different accounts Some are on journals Some are in ledgers and some are in balance sheets By doing this they are ensuring that there is no foul play in the business All these steps should follow guidelines and rules of the government This will help the company to understand whether they are growing in business or not Many of the firms provide different types of services to its client Need for transformation 

The process of recording transactions verifying them on daily basis and storing them is a big problem After doing all these steps perfectly they need to report it in perfect manner following guideline and the rules But the process takes too much of time You need someone for bookkeeping You need to mention all the details It may be simple purchase or the tax filing So it obvious that there is a chance of losing your data If that happens the process becomes much more difficult Business consulting service method has a hectic process If you are a small business person then you need to maintain all the bills Most of the bills are in form of receipt invoice So keeping them intact is difficult You need to keep track of all your tax files payable bills and bills receivable So there is a definite need of transformation There are so many options like using virtual systems cloud reporting an end to end reporting etc But one system works very well i e strategic advisory Strategic advisory It is very important to know about the advisory and the strategies The strategic advisory is a consultation service These are the services by Certified Public Accountants CPA Apart from this you can make use of individuals with skills and experience They will help you with a different process Even financial advisors do the same job More often than big companies have financial advisors 

The strategic advisory is an agency which provides its service on cash flow capital information management of assets and maintaining the account They help you and advice to take different steps They make strategies for you They will assist you with every business operation Depending on the services the client will pay fees to the consulting service How does it work The process is very simple They will help you in finding all the problems and correcting them in time They will follow standards depending on the jurisdiction The firm will process the information and produces accurate and the timely financial reporting They provide you a dedicated team which will advise you on financial accounting and reporting process The different range of services will help you maintaining and managing your financial activities in a simple manner The team will process audit and audit client information they even help you with the revised accounting standards Therefore there is no need to worry about the adaptability With the help of IPO process they will handle financial reporting and effective management of the business Strategies Business consulting service will provide following strategies 1 Cost of operation and investment strategy 2 Growth strategy 3 Strategies to approach a business and new client 4 Strategies on new and old deals 5 Transformation strategy Therefore more business entities are adopting business consulting services