Fergus Cleaver Applauds New Initiatives to Bring Accounting Assistance to Small Businesses

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The recent Business Advice Service week in the UK has revealed the importance of proper accounting to many small businesses in the country. New Zealand accountant, Fergus Cleaver discusses other resources that help with small business bookkeeping.

As many business owners are aware, keeping proper records of company accounts is a challenging process that becomes even more difficult when incorporated with other daily responsibilities. With new standards in economic regulation across the globe, many businesses and government authorities are pressured to comply with strict accounting requirements. According to a recent article from The Financial Times, the Business Advice Service (BAS) set in place by the Institute of Chartered Accountants in England and Wales (ICAEW) has provided many business owners with necessary insight on how to approach their accounting procedures. Fergus Cleaver, a reputable accountant in Auckland, New Zealand, conducts a wide range of financial services for businesses, small and large, and discusses how important such initiatives are.

According to the article, BAS provided a plethora of resource materials for entrepreneurs such as “help on various topics, including access to finance, business growth, exportation and better business finance.” However, while Fergus Cleaver believes that knowledge is the first step in helping enterprising individuals avoid financial pitfalls, business owners must also seek professional help to comply with national regulations. According to ICAEW chief executive, Michael Izza, “It’s not just [the] government’s responsibility to help businesses to survive and thrive. As a profession that acts in the public interest, ICAEW chartered accountants recognise their responsibility to offer crucial guidance.”

Fergus Cleaver is part of a very similar organization in his country, known as the New Zealand Institute of Chartered Accountants (NZICA). Like ICAEW, NZCIA certified accountants have a thorough understanding of government regulations, taxation policies and other business accounting procedures that the typical entrepreneur is not aware of. According to Fergus Cleaver, every business is different in its accounting needs, but every requirement needs to be addressed carefully to avoid any penalties that the law enforces.

In addition to his many accounting services, Fergus Cleaver recommends Xero.com to his clients to help them track accounting in a more efficient way. He explains, “The age of the World Wide Web brings with it many tools and initiatives which can be utilised by small businesses to better gauge and improve their profitability. Reporting tools, such as Xero.com, can get live feeds from your bank account and provide vital real time reporting to your business, taking a lot of the sting out of compliance.”

Cleaver adds that many new businesses may not have the confidence or means to approach a professional accountant. However, every country that requires intensive training of accountants, offers plenty of free resources, like that of BAS, to help promising entrepreneurs start off with a strong foundation.

ABOUT:

Fergus Cleaver is an accountant based in Auckland, New Zealand. Known for his service to both business and individual clients, he serves as the Senior Accountant at Cleaver Richards. At this firm, Fergus Cleaver assists in providing business and personal services, as well as tax guidance. An established professional within the financial industry, Fergus Cleaver understands the importance of personalized service and the fact that every client has unique financial goals and needs.

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Michael McGarety
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