(i) Strategies to Communicate Complex Technical Issues to a Client A professional advisor will often...

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(i) Strategies to Communicate Complex Technical Issues to a Client
A professional advisor will often advise their clients on a range of technical accounting and tax matters. However, in many instances clients do not possess the necessary financial expertise or technical accounting or tax knowledge to completely understand the information/advice provided by the accountant.
Throughout your degree, you have acquired a range of technical and disciplinary skills that will serve you well when advising clients. These clients will come from a variety of backgrounds and, in some cases, will not understand the ‘language and terminology’ that you would ordinarily use to explain (at times) complex technical accounting and taxation concepts.
Required:
Identify and explain three (3) strategies that you would adopt to simplify the content being delivered to clients.
In other words, what strategies could you implement to simplify the financial advice provided to a client (like David and Jake) where they readily admit that they lack the necessary financial acumen to understand what you are saying?
You must use 11 point Arial font with 1.5 line spacing. There is no need for references or footnotes.

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Vasudha · Accepted Answer

MYOB Project
Strategies adopted to simplify the content being delivered to the client:
Strategy 1: Define the Simplified business model: As the business grows, there will be added responsibilities in the areas of accounting, recording, compliance, taxes and reporting and analysis of financial statements. Defining the business model in this, complex accounting environment becomes paramount important as it simplifies the tasks as per the company’s requirement.
Financial statements are referred by various stake holders and from different angles, accounting firm should design as per their requirements or the important points of consideration for that particular stake holders. It is not possible to present every accounting detail to the stakeholders, whereas the important and relevant points should be presented with relevant schedules, annexure, disclosure points under the legal frame. This helps the person from non-accounting background to understand the financial statements. More clarity on technical terms and its computation. E.g., what constitutes as the part of debt and equity while calculating debt/ equity ratio.
Strategy 2: Provide Product Training and customer Service: Training and helping the clients, how the product works is vital. Through training and skill development, clients gain knowledge.

(i) Strategies to Communicate Complex Technical Issues to a Client A professional advisor will often advise their clients on a range of technical accounting and tax matters. However, in many instances...

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