When hiring a professional, it is important for you to understand exactly what it is they do. Whoever you are hiring - whether it be for accounting work, investment advisory, legal guidance - you need to make sure that what they are doing, you understand. If your accountant recommends something, you need to know why, and hopefully they're able to articulate why they are recommending that certain thing to you.
Just last week, we had a client come in. She needed me to explain to her the difference between dividends and wages. I was very open to explaining it as many times as it took in order for her to understand.
That being said, no matter how many times your professional explains it, it doesn't necessarily mean that you are going to understand with clarity. There is going to be some blind trust that you need to put into those professionals.
Your professional should be willing to explain these concepts to you as many times as it takes for you to understand, or to the point where you understand that it's not something you will ever understand. I know for a fact that many of my clients just trust that I know what's best for them from an accounting perspective.
Try to understand, and make extra appointments with your professionals if necessary. Get in there, and get the information- you are the boss!
Bryan Petersen is an accountant and entrepreneur with over 20 years of experience mentoring small and medium businesses across Alberta. Learn more about working with Bryan and the dedicated team at Alberta Wide Virtual Accounting.