Question

Accountants not only provide financial information to the firm, they:

Answer 1

Accountants not only present financial data but also provide crucial insights into a company's financial stability, aiding in strategic planning and investor confidence.

Step-by-step explanation:

Accountants provide a wide array of services beyond merely presenting financial data to a firm. They play a crucial role in offering insights into the firm's financial health, which is integral to strategic decision-making and enhancing transparency. As a firm matures and its strategies forecast profitability, the availability of information about the firm's operations, such as revenues, costs, and profits, starts to replace the need for personal knowledge of the management team. This accessibility of fiscal data becomes a cornerstone in garnering trust and investment from external capital sources like shareholders and bondholders who may not have personal relationships with the company's management.

Answer 2

Accountants not only provide financial information to the firm but they also assist in interpreting that information. Accountants examine the financial records. They also ensure that taxes are paid properly on time and financial records are accurate.