IFAC's record of achievment since the mid 1970s is a testimony to its success in identifying farmer needs and tailoring a high quality professional service accordingly.
- With a client base of approximately 14,00 clients, IFAC is the largest Farm Accountancy Practice in the country servicing all 26 counties through a network of 160 Recorders and 21 Branch Offices.
- IFAC is the 11th largest accountancy practice in Ireland (including all the large Dublin practices) Finance Magazine 2008
- IFAC offers a range of services to farmers which are not available from most other accountancy practices e.g. recording service, management reports, consultancy services etc.
- IFAC's expertise is acknowledged by other bodies. IFAC has provided consultancy services and expertise to IFA, Macra, the Banks, and other accountants.
- Value For Money - other agents who charge more, but provide less than IFAC often ask the question - how can IFAC do it ?? The answer is simple - efficiency ! The efficient use of computer technology lowers unit cost while also enabling IFAC to provide clients with a detailed comparison of costs and returns with other similar farms. By specialising in farmer taxation, IFAC has developed an expertise in farmer tax which other accountants with a more mixed bag of clients find difficult to match. IFAC, because of its size, can provide specialist national back-up services which smaller accountancy practices do not have, yet the service is very much based on personal contact with clients through Recorders and local Branch Managers abd staff.
- An Eye to the Future - IFAC has always held the view that data which has to be collected (and paid for) for completing tax returns, should be used for management purposes to help farmers run their business more efficiently. Now online you can access your Financial Management Report, complete your Teagasc Profit Monitor and carry out Cost Budget Analysis by comparing actual costs on an ongoing basis with your budget costs. The data collected by your recorder on each visit is loaded onto the IFAC website and you can compare your actual (incremental) costs todate with the budget values you have set for that accounts year. This gives you real power to cut costs because it shifts the balance of 'how your actual compared with forecast' to 'how your actual is comparing to budget forecast'. You work in the present rather than the past. This is made possible by the IFAC book-keeping service and on-line Cost Budget Analysis.
These are examples of IFAC changing to meet our clients' needs, combining forefront technology with shifting regulations. This is evidence of IFAC Accountants helping farmers adjust to CAP Reform
LEARN MORE ABOUT:
- Financial Management Report Click Here
- Teagasc Profit Monitor Click Here
- Cost Budget Analysis Click Here