How accountancy has changed over the past 100 years
At GSM we’ve been sharing our knowledge, (as well as tea), and best practice in accounting for our clients’ businesses for 100 years. And it has always been so much more than good stewardship of their finances.
Along the way we’ve navigated their funds through two world wars, many other significant world events and changes in business practice.
Historically, businesses have relied on accountants to prepare financial information for internal and external decision-making and to assist in the fulfilment of tax-filing obligations. As the business climate became more complex, demanding and rapidly changing than ever before, this affected the role of accountants making it increasingly important to adapt to this.
At GSM we’ve always moved with the times. No less so today.
Of course, we collect all necessary documents on time, explain accounting, tax and payroll legislation to our clients, keep them informed of external filing deadlines, stay on top of their requirements, explain changes in legislation and so on.
Notwithstanding these, over the years we’ve broadened our practice portfolio; we’ve added new accounting services, we’ve embraced online technologies, while not detracting from the personal partner-led service we’re renowned for. We’re on-top of ever changing regulation, as it impacts the wider business community, as well as for those changes that affect specific industries, e.g the charity sector.
Accounting has often been called ‘the language of business’ and as an accountancy practice we provide key areas of business support including financial accounting, tax, compliance, management accounting, auditing, evaluating financial systems, business planning, forecasting, payroll and more. Yet, in the past 100 years, while the core disciplines have remained fairly constant, we’ve recognised that the role of the accountant is changing.
So, how can your business benefit from this change?
With new technology, we believe that highly skilled accountants of the future will play an increasingly important role in bringing insights and heightened trust, whereby our judgement is enabled, not replaced, by technology. By responding in an agile and transparent way and having a forward looking mind-set, as we always have, we will remain relevant and sought after.
We believe that with increasing technological advances, client relationships take centre stage and at GSM it was ever thus.
As accountancy continues to evolve, business owners can benefit from more choice in the type and level of support they can expect. While traditional year-end and compliance services remain a very important core service, we are a valuable resource of knowledge and expertise to help clients achieve their business goals and help them build better businesses.
And so, we’re well prepared to react and indeed pre-empt changes in the business environment and how it may impact on our clients in the years to come. Are you? Contact us to hear more.