Friday, August 7, 2015

Communication and Accounting: Factors to a Successful Business


Having good communication between the owner and his/her accountant is one of the biggest factors behind the success of a business. It is also a one good reason why business opportunities in UAE are thriving. The country has a high standard of living as a result of their high per capita income and successful diversification of commercial efforts. You may want to see here the United Arab Emirates Economic Statistics and Indicators.  

                If you are an individual who also wants to effectively manage your own business, you would surely love to know what characteristics effective accountants in UAE possess and why communication is an important factor of a successful business. And you would want one on your team. It is the accountants that function as the bridge between the business owner and the financial capability (and incapability) of the business. 

Accountants in UAE, for example, are not just good in recording every single detail of information on their journals and ledgers; they are also able to explain what they had understood.

The following are key points on finding a good accountant for your dream business.

1.  An effective listener and is client-focused. A good accountant listens to his/her client’s query. He is capable of building good communication by listening to his/her client’s clarification and description about the business. When he/she is on a meeting, he/she pays attention to his client. His thoughts are not flying and as a result, he is able to give his client clear solutions.

2.   Adheres to facts and accountable. He/she attends to questions and clarifications based on facts, facts, and only facts. Since, an accountant is responsible for the financial matters, he/she provides clear financial statements of the business. He/she is liable to recording, summarizing and analyzing any financial information.

3.   Provides proper feedback and pays attention to every single detail. Recording data may be a repeatedly tiring task, however, a good accountant does not jump on some data. He/she makes sure he/she has double-checked each detail and guarantees an appropriate opinion. He/she gives enough time and effort in formulating possible solutions.

4.   Can easily express thoughts and ideas as well as understands the information system. Accounting is not just about numbers and a good accountant understands it not only by mind, but by heart. It is an information system referring to the process of summarizing, analyzing and reporting business transactions, whereas, he/she is capable of conveying what he/she understands to his/her clients. He/she can easily explain numbers and financial matters to his/her client.   

5.  Has the empathy of the client and knows the word “confidentiality”. A good accountant is trustworthy. He/she holds confidential information about his/her client’s business; therefore it is a must that he/she knows how to keep confidential information. He/she has the responsiveness of his/her client whenever needed. They both understand each other and share the same understanding and vision about the business itself.

In parallel to the characteristics of an effective communicator, a good accountant also is able to freely express his/her ideas regarding his/her client’s business. As a result, having a good communication between them, a higher possibility of successful business ventures may come in.

For accountants in Dubai, visit

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