Whilst the primary role of an accountant is to review and analyse financial records, keeping track of income, expenditure and tax liabilities, educating clients on financial literacy is also a key responsibility.
As we work with clients, we also aim to financially educate to promote sustainable growth and financial health within their business for their long term success.
Key education areas that we work with our clients on are:
1. Basic Concepts:
Educate clients on fundamental accounting principles, financial statements and key performance indicators.
2. Ongoing Learning:
Encourage clients to engage in learning about basic accounting through podcasts, webinars, or online resources.
3. Simplify Complex Terms:
Break down complex accounting terms into simple, understandable language. Explain acronyms, concepts and give real life examples to explain the terminology.
4. Strategic Planning:
Workshop with clients on their long-term financial plans, including budgeting, forecasting, and financial goal setting.
5. Risk Management:
Educate them on risk management strategies, including insurance, diversification, and contingency planning.
6. Digital Solutions:
Provide advice on the most appropriate cloud accounting package for their business that will help streamline their financial processes to improve efficiency, such as electronic invoicing and automated payroll.
7. Data-Driven Insights:
Help clients use financial data to make informed strategic decisions, such as pricing strategies, expansion plans, or cost-cutting measures.
8. Ongoing Support:
Be a trusted advisor who is invested in their long-term success, not just a service provider. Focus on building a relationship based on trust and mutual goals.
Here at Hopscotch we help our clients interpret reports and explain the story behind the numbers. We provide analysis of management reports through graphs, key performance indicators and analysis of results versus budget, we then schedule meetings where we discuss the numbers with clients and not just email them through.
We don’t just give them the numbers, we take the time to talk with our valued clients and explain the numbers, and by doing this, during the process, we educate them a little more each time.
If you would like Hopscotch to help your business with long term success, please call us on 1300 HOP 123.
