How Accountants have helped throughout the global pandemic

6 months into a pandemic which feels like it has caused nothing but uncertainty. Most aspects of our home and work lives have been slightly or dramatically altered, and for a lot of us, our realities feel entirely different to how they were last year. Cities and industries across the world have faced their own challenges, in order to develop and engage new, hygienic habits to be integrated into our everyday lives.

After what can only be described a surreal year, one thing that has reflected positively is our human ability to adapt and to overcome. Various sectors have been tested somehow or other, and for finance professionals – that’s no different.  

In the UK, COVID-19 has brought (what feels like) never-ending, continuously changing legislation, new financial protocols, and updated rates and schemes which have had to be learnt overnight! It’s not that an accountants role wasn’t enough of a challenge prior to the pandemic, but the situation has seemed to elevate it to another level of fast-paced demand and expectancy. New things have had to be learnt and they’ve had to be learnt quickly! It’s not all negative though – as new, life-long lasting skills have been acquired. Some job descriptions are now even requesting experience which didn’t actually exist this time last year from potential candidates, such as furlough and flexi-furlough knowledge.

In addition to the acquirement of knowledge surrounding new COVID-aged government schemes, accountants have also been vital when it comes to just generally keeping businesses afloat. Consolidating the finances throughout what has been a difficult time for most organisations has become the focal point of the role for many. An accountant can help navigate the cashflow in order to survive, overcome and eventually generate growth, as well as offer security, reassurance and expert industry knowledge.

Accountants have always been sharp and composed, but you can now add resilient, ability to adapt and expert to the list. Now more than ever, they are a crucial part of businesses in order to allow a smooth operation.

Of course – most businesses have discovered the apparent need for an accountant early on. For efficient management of accounts and finances, then the obvious route is to opt for an accountant, whether internal or externally sourced. The coronavirus pandemic has only highlighted the importance of why an expert is needed to manage the money. Although challenging, it’s a great time for accountants, with an abundance of opportunity, and a renovated reputation which will last for generations.

If you’re seeking accountancy expertise for your business, please don’t hesitate to get in touch: https://www.rkaccountancy.co.uk/contact-us/

Fort the latest government Furlough/Flexi-furlough information: https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme