Dutch Tax And Accounting | Facts & Trends
In this blog we want to give you a deeper understanding of what Accounting is and what the trends are within the area of Accounting. We’ll start this blog with some fun facts about accounting, the most common accounting mistakes that entrepreneurs make and continue with some Accounting Trends.
Accounting Fun Facts
The inventor of Bubble Gum was an accountant
There are over 2000 FBI Agents trained as accountants. They were also the ones to bring down Al Capone!
There are quite many famous people that studied accounting. Some of them are:
The Co-Founder of NIKE
The first person to register his name was an accountant!
Most Common Accounting Mistakes
Even though there is often a misconception of what accounting is and what accountants do, one can avoid many mistakes by hiring a certified accountant. Especially, when you’re a small business and do not have the skills or people to effectively keep your accounts in order. The most common mistakes include:
Calculation and math mistakes, which can turn out to be very costly!
Getting behind on the piles of paperwork that comes with Accounting, which means it will come down to the last minute for deadlines and they always say “more haste, less speed” is more efficient!
Not (exactly) knowing what you’re doing, and therefore miss out on benefits and financial benefits.
Accountants will keep up to date with new regulations, tax benefits and other very important laws. It’s what they do - daily. And you probably don’t have the time to keep track of this yourself.
Big Data and IT
This will help accountants to bring more added value by supporting their advice with supporting data. They might even upgrade their services with Strategic Business Advice.
The Future is Now
This will make sure that accountants have more time for advice, analysis and client support because the entry of data will probably be taken over by software or automation.
Embracing the Cloud
This is a trend that is getting bigger and bigger, which means your accountant will be able to access your financial data from anywhere at any time.
Block chain is the next big thing!
There are many theories out there that say that block chain will not only be used by crypto-currencies but may also be used for f.e. Accountants to speed up the process of compliance, auditing and reconciliation. And even will be able to more accurately and with greater security and transparency.
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