Outsourcing the accounting and payroll services – Solution and challenges

The challenges appear quite often in our business. Personally, the biggest challenges had to do with finding a fiscal solution for an insufficiently regulated or unregulated case.

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MIHAELA DANALACHE

MIHAELA DANALACHE

PARTNER at ENSIGHT MANAGEMENT CONSULTING S.R.L.

The lack of clear regulations – a big challenge 

 

The challenges appear quite often in our business. Personally, the biggest challenges had to do with finding a fiscal solution for an insufficiently regulated or unregulated case. The challenge is even greater when there are several contradictory regulations for the analyzed aspect. Analyzing each and every word (or even a coma) from a law text, while considering the possible interpretations for the same legal text, represents a challenge for me. But the professional fulfillment is enormous, when I find the best fiscal solution.

 

It is also very interesting and challenging the link between accounting and tax legislation, the way the accounting transactions recorded according selected accounting policies are treated from a fiscal point of view.

 

Being an  accountant in Romania – not a stress-free job 

 

Unfortunately, the job of an accountant is often perceived as data processing, a routine which adds no value for the company, but rather consumes resources in order to observe legal requirements; in other words, is seen as... a kind of „fifth wheel of a coach”.

 

It’s about time to change this perspective, because the accounting profession can become „an art” when it is practiced with dedication and, above all, with responsibility. There is creativity in this field, as well.

 

Why do I say this? Because a good accountant must keep pace with numerous legislative changes, both in accounting and taxes, taken as a whole. Another argument is that a good accountant has to be a support for management when it comes to take operational decisions. He/she should provide the best solutions for optimal usage of company resources and cash-flows optimization, in a timely manner.

 

From my experience, I noticed a major difference between a professional accountant that uses legal leverages for optimal usage of company resources, who proposes the application of possible fiscal incentives and an accountant who strictly limites his/her activity to the „standard” processing of primary documents and issuance of reports. I know medium-sized companies that have contracted „cheap” services from accountants who are not certified by professional bodies in the field, companies which sooner or later have paid impressive fines and penalties, due to years of non-compliance with accounting and tax legislation.

 

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COMMENT ON THIS ARTICLE:

  • Lidia
    17.06.13 ora 02:30
    CvkWJahrvRZf

    That's a certaive answer to a difficult question





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