It is estimated that over 300 small businesses will open their doors each working day in the United States. The ability these businesses have to make it is heavily dependent on their ability to plan ahead for the future, as well as meeting the challenges of today’s constantly changing small business environment. These efforts are helped exponentially with the use of CPAs, or Certified Public Accountants.
A CPA is a professional accountant, which is distinguished from other types of accountants due to stringent license requirements. Not only do they have additional education, they must also abide to an established code of ethics, giving business owners additional peace of mind when utilizing their services.
CPAs have training, as well as business experience, which helps small business owners to find viable solutions for any day-to-day challenges that occur. One of the main services that an accountant offers is ongoing financial services for extended periods of time. With these services, small business owners are able to receive advice on improving internal accounting methods as well as preparing cash flow concepts and projections and securing new business loans.
Additionally, accounting firms can offer industry specific solutions for businesses, which allows them to make informed, smart decisions that will provide superior growth and development. The CPA services also provide auditing and tax services, financial planning and management consulting, which can aid small business owners in prospering and facing their competition with nothing but confidence.
The auditing and accounting services that are provided by CPAs include:
· Compiling financial statements, performing a review or audit;
· Analyzing the operating results;
· Consulting services;
· Helping clients determine which electronic software should be used for financial purposes, if any;
· Compiling a projection or forecast.
CPAs will also help a small business owner reduce and monitor the cost of production, develop pricing and marketing strategies and controlling inventory.
CPA Tax Services
In 1913 the very first federal law regarding income taxes was created and passed. A CPA will have extensive knowledge and experience working with different tax laws, which can help business owners, stay abreast of any changes in tax laws or regulations that may impact their business. Having this type of help from professionals, like Quon Associates, can be invaluable to a small business and can help them to alleviate any stress caused by audits.
Taking the time to find the right Calgary area accountants will make the job of a business owner much easier. Calling around to the various accountants in an area will help a business owner make the right decision.
Author: Shanti Maxwell