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The services of a good accountant can be invaluable to your small business. We tend to associate accountants largely with their tax related work but there are actually specific job duties that vary widely among the four major fields of accounting.
Public accountants perform a broad range of accounting, auditing, tax, and consulting activities for their clients, who may be corporations, governments, non-profit organizations, or individuals. For example, some public accountants concentrate on tax matters. Others are consultants who offer advice in areas such as compensation or employee healthcare benefits, the design of accounting and data-processing systems, and the selection of controls to safeguard assets. Public accountants, many of whom are Certified Public Accountants (CPAs), generally have their own businesses or work for public accounting firms.
Management accountants—also called industrial, corporate, or private accountants—record and analyze the financial information of the companies for which they work. Other responsibilities include budgeting, performance evaluation, cost management, and asset management. Usually, management accountants are part of executive teams involved in strategic planning or new-product development. They analyze and interpret the financial information that corporate executives need to make sound business decisions.
Government accountants and auditors maintain and examine the records of government agencies and audit private businesses and individuals whose activities are subject to government regulations or taxation.
Internal auditors verify the accuracy of their organization's records and check for mismanagement, waste, or fraud.
If you don’t already have an accountant working for your business, how do you go about finding a good accountant to hire?
1) Ask other business people about their accountant. Find out who they use and how satisfied they are with the services their accountant provides. If you don't or can't get any worthy referrals using this method, use the phone book or try your local Chamber of Commerce.
2) Call a selection of accountants to discuss their services. Ask him or her about their education (such as whether they're a CA or CGA), about their experience with your industry, and about their fees. Use this first contact information to choose 2 or 3 accountants to interview.
3) Prepare a list of questions you want to ask prospective accountants. For example, you may want to ask:
An accountant can be so much than just your tax filer; so make sure you have the best accountant for you and your business.
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