When you run a small business, you may find that you’re confused by some of the accounting terminology and that it sometimes creeps over into jargon. Let’s look at the issue.
What’s the Difference Between Terminology and Jargon?
The terms sound similar, but there’s an important difference. Terminology is the essential language needed to understand a function, whereas jargon is difficult for people outside of a profession or group to understand. In this way, terminology is essential to aid understanding, and jargon makes communication harder.
So Is Jargon Necessary?
No. If you’re looking for business accountants in Worcester and they resort to using jargon, it can be a sign that they are trying to block communication and make it difficult for you to understand what they do. It makes more sense to find an accountant who is a skilled communicator and able to explain something in a way that can be understood. Business accountants Worcester, such as https://www.hazlewoods.co.uk/expertise/business-accountants/worcester/, take pride in being clear, transparent and skilled at communication to make their clients’ lives easier.
What About Terminology?
Accounting terminology is different. If you run a business, it’s essential to understand business accounting terminology, as it will help you to understand your finances. Learn the basics and you’ll find it’s far easier to have productive conversations with your accountant, bank and business partners. Financial literacy is a basic essential in business, so it’s vital to grasp it, and there are plenty of resources for learning and developing basic skills in this area as you grow your enterprise and make sound financial decisions.
