Many times the accounting is seen as a burden, a slab to load by legal imperative that is not worth anything at the business level. The truth is that knowing how to use accounting to our favour is a whole competitive advantage and that's what our entry today is all about.
Accounting is an issue with some controversy, at least within the financial/accounting area, as it serves several purposes and some of them are not very clear to serve anyone. For example, accounting can be useful for valuing a company for a purchase, but for small business is difficult for anyone to be bought. Governments have applied to these complaints by offering simplified versions of their accounting standards for small businesses, but it is true that for many people these rules remain too complicated for the role they play. Accounting, therefore, is a complex service that in many cases is outsourced.
But of course, if we only focus on complexity and costs, we will be unable to see other opportunities. Many accounts are made without using all the benefits that the law allows for companies, or in a very suboptimal way for accounting to serve as a key factor in the company. The accounting rules are complex in all countries, full of depreciation methods, the possibility of deferring acts etc... The value of a really extensive knowledge of the accounting standard in the daily chores is often not valued in the right measure.
Also, something that hurts me a lot to see is that overall the management accounting that is carried within most businesses is a downfall. Many companies do not know what time of day they sell the most, what day of the week they do or how much they earn for each product they sell. At the moment of truth. they have ways to calculate their profitability that would admit many improvements. I believe that, in the face of accounting services, the lack of analytical or management accounting is the most pronounced, and ironically it is the most important.