Close

CPA as Advisor to Small Business

Certified public accountants (CPAs) are the premier providers of business advice and technical assistance to small businesses

CPA as Advisor to Small Business

More than 300 new small businesses open their doors every business day in the United States. Their ability to survive depends, in large part, on their ability to plan for the future, while meeting the present challenges of today's ever-changing business environment. Certified public accountants (CPAs) are the premier providers of business advice and technical assistance to small businesses.

CPAs are professionals, distinguished from other accountants by stringent licensing requirements. They must have a college degree or its equivalent, pass a rigorous national examination, and meet certain experience requirements to qualify for a state license. Once licensed, CPAs are governed by a strict code of professional ethics.

CPAs' technical knowledge, training, and business experience enable them to help small business owners find solutions to their day-to-day problems. For example, CPAs provide accounting and financial services on an ongoing basis, review and make recommendations to improve internal accounting, administrative controls, help businesses secure loans, and prepare cash flow projections that show how the loans will be repaid. CPAs also provide advice to business owners on problems unique to the industries in which their businesses operate and help them make informed decisions, such as creating succession plans to effect a smooth transition to a new owner.

By providing accounting and auditing services, tax services, management consulting services, and financial planning services, CPAs help small businesses prosper and face their competition with confidence.

 

Accounting and Auditing Services

CPAs can assist small business owners by providing the following services in connection with financial statements:

• Performing an audit, a review or a compilation of financial statements

• Performing an agreed-upon procedure engagement with respect to specified elements, accounts, or items of a financial statement

• Performing attestation services in conjunction with a forecast or projection

• Developing formats for regular monthly or quarterly reporting

• Analyzing operating results

• Advising clients about the selection or use of computer software to generate financial statements

• Consulting services

Depending on the needs of the small business owner, CPAs can provide consulting services in:

• Cash management

• Risk management (insurance)

• Financing

• Environmental compliance

• Business valuation

• Compensation and benefit plans

• Computer-based accounting systems

• Succession planning for family-owned businesses

• Mergers and acquisitions

• Health care

• Compliance with government regulations

• Litigation support

• Total Quality Management

• Feasibility studies

• Software evaluation and design

• Disaster recovery planning

• Organizational restructuring

• Human resources planning

In addition, CPAs help small business owners monitor and reduce production costs, control inventory, and develop marketing and pricing strategies. They also provide financial analyses, including evaluation of economic projections and long-range planning objectives.

 

 

Track Your Refund

 
Track Federal Refund Check Federal Amended Return Refund

Check your State Refund

Client Login

 

Refer a Friend

.