Anyone can be an “accountant.” In simple, day-to-day tasks such as buying the grocery, paying the bills, or going to the bank — each one of us is “accounting.” We record and manage our budget, time, and resources in the manner that we deem most efficient.
On the other hand, not everyone can be a Certified Public Accountant (CPA). Here are four good reasons why you should hire not just an accountant, but a CPA, for your business:
1. CPAs have the expertise that you need.
Before a person becomes a CPA, he or she should have completed an accounting degree and passed an accreditation exam. Such an accomplishment indicates that he or she possesses the essential knowledge and skills needed to do accounting work effectively. Moreover, a CPA is updated about the latest tax regulations, policies, and developments pertaining to accounting and financial management.
2. CPAs can help you in planning and analysis.
Aside from doing accounting tasks, a CPA can also help you in planning and analyzing your business performance. In other words, he or she can act as an adviser when it comes to making crucial business decisions. They can help in assessing the viability of a future business project, as well as help in preparing business proposals. Based on their past experiences with other clients, they can also share with you some tips in planning and managing your business.
3. CPAs are connected with other financial experts.
Aside from passing a board exam, CPAs are also encouraged to apply for membership in local, national, and even international associations specifically established for CPAs. By being connected with other experts in the field, they can hear about new methodologies that would further improve their skills. Being in a network with other CPAs also means that they can easily consult with other experts when necessary.
4. CPAs engage in continuing education.
Just like any other field, accounting is a constant state of change and development. It is influenced by changes in technology, banking, and even the global economy. Hence, it is essential for a CPA to engage in continuing education. Depending on the region, every three years or so a CPA needs to undergo numerous hours of training in various accounting subjects. In doing so, they are able to keep abreast of the latest issues and developments in the industry.
When it comes to handling your money and resources, you should hire only the best, and not just any “accountant.” By having expert knowledge, skills, connections, and continuing education, a CPA should be able to manage your financial matters effectively.