Hiring a CPA accountant can be of huge relief. Particularly for small businesses and entrepreneurs. These two characters have a lot on their hands making it grueling to focus on core business strategies. Entrepreneurs and small businesses can hire certified public accountants from accounting firms, which is less expensive than hiring an employee. These are some of the services offered by CPA accountants.
Types of CPA accounting services
Not only do accountants provide their usual tasks but they will also advise clients on financial strategies. For example, they provide reviews on the current tax laws, CPA practices for sale, methods of lowering tax burdens, and action plan on how to update your business plan. There are those accountants who have specialized in managing financial accounts while others in risk management. A good number of them ensure the clients get acquainted with regulatory changes.
As a matter of fact, high-level of accounting is offered by professional CPA accountants. CPAs are employed by accounting firms. Some examples of these services are: perfecting financial statements, creating budgets for clients, preparing tax returns, and much more.
Moreover, accounting firms monitor depreciation of assets, audit, and business valuation services, and helping clients determine cash flow needs. Besides, those companies are offering forensic accounting services. This is mostly done in firms facing fraud problems. And, others are specialized in setting up computer accounting systems and auditing information systems.
In most cases, if you hire an accountant from an accounting firm for bookkeeping services, junior accountants are the ones who are likely to provide you with these services. Bookkeeping services include; payroll, billing, accounts payable and receivable, monthly and quarterly taxes, general ledger entries, bank reconciliation, and monthly trial balances. Bookkeepers too can generate financial statements. But, they have to get scrutinized by a professional CPA before they are presented to the client.
- Tax Advisory Services
- They help clients comply with tax laws
- Aid with tax problems and representing clients before government agencies
- Help in planning short-term and long-term goals to lower tax liabilities
- Preparation of tax returns
- Business Financing Services
- Helps clients to obtain finance
- Develop budgets and forecast
- Create accounting systems
They do financial, inventory management, cost control, and credit studies. Depending on the nature of your business and services you need, now you know and what to expect.