The smartest leaders and business moguls surround themselves with people who possess deeper knowledge and more experience. We are either developers or maintainers. Just as every piece is needed to complete the picture of a puzzle, all skills should be employed to attain your dreams.
Professionally speaking a business owner needs to stay focused on the direction of the company not bogged down in the maintenance and operations. Similarly, our personal goals will benefit from assigning complex and instrumental aspects to our plans and dreams.
Our due diligence is assessing the qualities of a prospective accounting firm in Indonesia, with whom we will place significant legal, financial, and planning confidence. Answer the following questions for greater confidence.
- How comprehensive or narrow is their accounting firm’s focus? This industry is subject to continual regulation changes, and to remain current in all aspects of accounting law requires a group of specialists under one roof for effectiveness. You don’t need a forensic accountant for your small business.
- If they have education and successful experience in the financial sector you should ask for recent customer references. Do those references say this office is effective and rapid in communication, adheres to financial ethics codes, is professional, and is creative with solutions that provide desired results? If not, why are you talking to them?
- Any professional should be able to educate us and bring us up to speed for better decision-making with current market and industry expertise. While we can not hope to quickly learn accounting theory and small business tax codes over a few meetings; showing they care enough to reveal how things work creates more trust in the relationship.
- Education, knowledge, and experience are requisites but do not underestimate the power of the connections and relationships built during their operation. Who we know is important in every business to get difficult problems solved.
- After your initial consultation, a professional will provide you with a schedule for time management of future financial planning and the steps we need to achieve milestones and avoid roadblocks.
Indonesia has some challenging regulations for foreign investors to overcome when starting a company here. Translation and comprehension of foreign company creation regulations and accounting law demand you find a local guide who has navigated that jungle regularly.
Every financial business will have a license and certifications from recognized industry regulators, chartered and insured for your protection. Learn accounting laws and regulations in Indonesia here, and ask your accountant goal-applicable questions.
Take your personal, investment, business, budgeting, and retirement questions to a professional. Do not create an incomplete or false formula and expect desired results. Accurate and complete financial recording and reporting will keep you compliant with the law and avoid expensive errors that could damage your business’s liquidity and credibility or cripple your family’s future.
An accountant can help your retirement dreams become a reality sooner. See you on the beach.