12 Terrace Review — Wednesday, March 9, 1988

Business Beat Getting the most out of your accountant

Finding the right accountant is an impor- -

tant part of ensuring that your business gets off the ground smoothly.

Since you may spend more time during” : the start-up phase with your professional ' advisors than you do with your spouse, it’s vital to choose any new member of your business ‘‘family’’ with care.

. oe Getting Recommendations . How do you go about finding the right by Phil Hartl accountant? Ask you business associates Manager, Terrace and other professional advisors, such as Federal Business your lawyer or banker, for recommenda- determine the firm’s experience in dealing with your type of business. Find out what type of assistance they are

willing to provide —- and at what cost.

There’s no rule of thumb about whether a large or small account- ing firm is best for you. Every firm has its strengths and weaknesses, and it’s important for you to select the best match be- tween your needs and the firms’ abilities. :

Look For Rapporot

One key factor that must not be overlooked in your selection of an accounting firm is compatability. Since it is your business that is at risk, you should choose an accountant who understands and respects your perspective. At the same time, it’s important that you be willing to trust your accountant’s advice, especially on those oc- casions when they are the bearer of bad news.

During the past few years, many. accounting firms have taken steps to become more sensitive to the special needs of business clients. As a result, many firms have set up small-business specialists or divisions. Look for an accountant who is prepared to offer timely, effective business advice to. suit your schedule.

Use Your Accountant Wisely

Accountants are trained to advise you on matters such as finan- cial record-keeping, taxation, and financial planning. They can help prepare financial forecasts and cash-flow projections to support loan applications. And for the start-up situation, they can make im- portant recommendations pertaining to legal structure, partnership agreements, and share issues. ;

Although the owner-managers of small businesses often criticize . the accounting profession for high bills and poor service, there are a number of steps you can take to ensure that you get the most for your accounting fees. Here are some tips to follow:

@ Request a service quote of your accountant’s estimated hours and rates before work on a special project begins. Make sure you understand what you are going to get, and what assistance or infor- mation you will need to provide. .

@ Besure to ask questions whenever you don’t understand your ac- countant’s terminology or advice. Ask your accountant to explain the indicators which lead to their particular viewpoint.

e@ Work with your accountant to select a company year-end that is most appropriate for your business. Be prepared for an accurate in- ventory count, and balance your year-end books in a timely man- ner. ;

@ Ensure that your record-keeping system is accurately maintained throughout the year, and quickly provide your accountant with any required information. If you miss meeting your deadlines, your pro- ject may have to wait while your accountant fulfills an obligation to another client.

@ Pay your accountant according to the terms of your agreement. Remember that they also have bills to pay and mouths to feed.

Your accountant is a key member of your business *“*family’’, Choosing the right person for the job takes time and effort, but it’s one of the most important decisions you'll make. And a little atten- tion to your relationship with this professional advisor can help your business run a lot easier. .

- ‘This Terrace select men’s soccer team recently returned from the Northern

B.C. Winter Games with a silver medal for thelr efforts. The team is spon:

sored by Skeena Sawmiils.

Heritage Park is now open only for arranged tours. For more Informa- tlon, call 635-4546 or 635-2508. Rebekah Lodge Meetings are held at 8 p.m. every second and fourth Wwedners each month. For information or membership contact Ann, at . a .

Quick and easy...

TERRACE BUSINESS GUIDE 1 West Coast ia Thornhill Grocery . Chimney Service & Laundromat

— Open 7 k Ba.m. - 1] p.m. Clean Chimney Maintenance | Fresh 7 lays ‘ayo Dealer for:

& Fresh produce ‘Take-out’ foods FINGARD CHIMNEY *& Stamp Agency FIRE EXTINGUISHERS

635-9557 635-6624

~ across from Thornhill Elementary Pro TECH ELECTRONICS KALUM ELECTRIC 4519 LAKELSE AVE., TERRACE

Major Appliances: , 635-5134

Frigidaire’ Electrohome

Com c Westinghouse Quasar T.V. oe Sales & Service VCR Parts Depot We service Service centre for most for all makes all makes major brands 3234 Kalu St. - 635-6286

Satelite TV systems

Kalum Electric Ltd.

Your complete >. source for all Dy CONTR ACTING your heating | needs, = Commercial & Residential Construction, Northwest Consolidated Maintenance, Repairs & Renovations Ss uppy Ltd. Wood Stove installations

4-3916 MOUNTAINVIEW AVE. 635-5859

5239 Kelth Ave., Tenaca 635-7158 | TERRACE, B.C.

; joa Speclalizing Its BUSINESS SERVICES bey; a Rt matic = Os Sa ete Ge pope" 638-8195 North Coast Auto

41-3238 Kalum St., Terrace, B.C. VBG 2N4 ; Auto Glass Specialists ICBC claims handled promptly

638-1166

MERC CAUISERS vx MARINER OUTBOARDS HAMILTON & OUTBOARD MARINER JETS HOMELIGHT LAWNMOWERS YAMAHA 3 & 4 WHEELERS YAMAHA POWER PRODUCTS

SHINDAIWA CHAIN SAWS DI, No. 7550 & POWER PRODUCTS

-KEN’S MARINE

HN ti tie ati | 4946 Greig Ave. Phone: 635-2909

B&G

. Repairs Ltd ic2 er Dr., Terrace .

inflatable Boat Repairs

@ Durable — High Quality e 3 Vulcanizing Repairs ®°9 (2 ct

TERRACE LTD. 4711-A Kelth Ave.

r We specialize In Conveyer Belt “4, % Installations, Splicing, and Repairs. FA Vulcanizing and Pulley Lagging. 8

24 HOUR SERVICE. - HI-QUALITY BELTING & | ‘CONTRACTING SERVICES 638-8530 | 638-0663

Industrial 638-1876 ' Commercilal& ™ c Residential .

Wiring Nate’s Electric

_ Nathan Waddetl — Electrical Contractor . 4931 Lazolle Ave., Terrace

DOC’S CARTAGE

AND STORAGE CO. (1884) LTD.

Agents for URED GROCERY Une von nes WERE Laundromat & Carwash .. across town or across the nation.

635-2728

Open 8:30 - 10:30 daily

2701S. Kalum 3111 Blakeburn St., Terrace, B.C.

635-6180 In Kitimat — Phone 632-2544

Sales and Service for

Motorcycles * Chainsaws — Snowmobiles * Marine Supplies

TERRACE A EQUIPMENT | SALES = LTD.

4441 Lakelse Ave., Terrace

Ph. 635-6384

Review | 4535 Greig Avenue, 635-7840

G.C. CONTRACTING

SPECIALIZING IN MARBLE & CERAMIC TILE INSTALLATIONS Gary Christiansen 4834 Sunset, Terrace, B.C.

798-2254