Features of a Great Accountant
As a seasoned general executive what I look out for in my accountant has developed over many years. I have been taught that often the right accountant knows more than I am doing and this data can make a gigantic favorable effect on the performance of the business.
I take for granted a good accountant should at a minimum be a licensed Public Accountant ( CPA ). A CPA standing should be validated and is the best proof you can get that an accountant knows debits from credits and has a fair command of :
* Financial reports
* accounting conventions
* Business Ideas
* Money Control Issues
* Taxes and Rules
A CPA is also a testimonial that talks to moral values and a dedication to the general public interest.Good CPAs are easy to find, but if you are truly serious about building a great business it’s worth the additional effort to get a great CPA. Great CPA’s all have the following qualities :
1.Have a treasure house of business experience. Experience with other enterprises in your sector is much better.
2.Think strategically about your business options. They should offer suggestions concerning how to grow your business next year and not just compile reports from last year.
3. Help you execute a tax plan that legitimately enables you to keep more of what you earn. This extends past the taxes the business pays and embodies the earnings taxes paid by the stockholders and principals.
4. Are candid and direct in their talks and communications. It is straightforward to find an accountant to meekly agree with your calls but you need somebody to tell you when they believe you are heading down the incorrect road and why.
5. Help you defend your business from fraud, crime, and deceitful staff thru good finance controls and processes. They should also help you implement internal procedures to faster sense any gaffes or oversights.
6. Supply an objective point of view about your business performance. Your sales manager will overstate sales and the operations executive always fails to add in one off costs so you want a clear and correct picture to make considered decisions.
7. Save your cash and raise your profit by helping you identify “best” practices. Here is where their experience gives them actionable comprehension of the business.
8. Be concerned in the business community. They should have contacts that will help you grow your business and form strategic coalitions.
A face to face interview supplies the chance to know if there is a “right fit” for your business. As well as all the above, the chemistry between your characters wants to match. And do not get lazy and fail to test their references. She should have a record of working with successful firms. It is reasonable to assume the accountant had a part in that success.
So how do I find my accountants? A referral is a handy place to start but I haven’t run into someone that failed to describe their accountant as “great.” with interviewing the referral applicants you need to perform an exterior search. Since changing accountants has a significant amount of agony, it is smart to take your time and do it properly the 1st time.