When Accuracy is Required

We assume accuracy is beneficial all of the time, but perhaps not always necessary. You can think of situations where accuracy might be sacrificed for speed perhaps, creativity, or just to get the ball moving on a project. Remember the saying by  Catherine Carrigan, 'Perfect is the enemy of done.'

But when is accuracy essential in business?

Accuracy is required in your business' financial reports. This kind of information is used to make decisions for the future, to steer your business in new directions, to assess outcomes and determine fresh solutions.That is why it is so important to keep your business records up-to-date.

It's also useful to think about the opposite of accuracy, which is an error.  And if your business is full of errors, that just means a lot of wastage - in time and resources.

Paul Sweeney (Pretium Solutions) looks at these issues around accuracy, including the best ways of determining when being accurate is essential to your business, and when its not.

Paul Sweeney Chartered Accountant & Business Advisor, launched Pretium Solutions after a long and successful career in accounting and business advisory. Paul credits his passion for small business with growing up in country NSW, where family-run businesses were the cornerstone of everyday life.

For Paul, the driving force behind The Business Behind Your Business was to make high end, proactive, directed and value-based advisory services available to small to medium businesses.

Paul brings to the table decades of experience as a highly qualified accountant and business advisor at every level of business. Through consulting, coaching and on-the-ground training and operations, his focus is on unlocking the untapped potential for greater profitability. Paul’s qualifications allow him to pair strategic advice with an advanced understanding of taxation and compliance matters.

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