I find a lot of my clients do struggle in this area.
Some of it is a mental block on the subject; thinking this is just to complex to ever understand.
Part of the problem is that SOME accountants don’t see their role to education their clients. That is unfortunate. I have more business that comes in from helping someone set-up their system and then teaching them how to run it without me -- leading to more complex needs latter on vs. taking on a small client and running the accounting for them. And many of these clients are not just starting out, but include those who find that their accountant is really just providing data entry services.
In fact, I feel so strongly about this, I started My Fiscal Office with a core principle that states “We teach you not to depend on us. Most accountants will provide you with timely and accurate financial information. At My Fiscal Office, we will coach you to interpret and act on your financial information.”
Just today, I am doing two webinars (for another company) on how to produce timely and accurate financial statements AND how to interpret financial statements.
My advice is to find an accountant who will explain accounting in English, who is willing to teach you the story behind the numbers and, most importantly, will not put their ability to generate fees from you now ahead of what is in the best interest of your business.