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The Different Services and Functions of Accounting Firms
by
Jenna Rivers If you’re starting to be convinced you need to hire an accounting firm for your business but think you still have a lot to learn about how doing so can help you, read on. The number of employees in a certain accounting firm can vary from one firm to another. A firm can have 1 to more than 100 employees who can be CPAs themselves handling different fields in accounting. These people provide services related to accounting, finances, business and others. Since these people will be handling the finances of someone or of an entity, they are guided by their own Code of Ethics that value trust and honesty in dealing with clients. The clients are asked to supply the needed documents so that the accountant can perform all the needed tasks for their clients. Accounting firms have 6 major functions and the most basic is related to providing clients with accurate financing reports. In general, accountants start with making financial reports for clients and they provide an explanation or an interpretation of the numbers that they have come up with and explain how the business is doing financially. Accountants can also do external audits and prepare tax reports for clients. Since all businesses are required to pay taxes, accountants help the clients in making sure that he won’t be delayed with his payment to avoid problems. Business consulting is an additional function that these firms offer. There are expenditures and decisions that businessmen need some support with, especially when the person is a newbie in business. Not all business owners have knowledge about how to expand how to make their businesses grow. Another service an accounting firm offers is Internal Audit & Risk Management which basically deals with cases of theft and fraud. The accountant can advise the business owner on how to re-organize his system, his employees and even its electronic data processing department. This is to protect the business from factors that can bring the business down further. Specialty services may also be offered by the firm. These include short to long-term term engagement providing high class support to the international market. This is the service that companies should get when the business growth is so big that there has to be major changes in the current accounting system so it can continue to work. For any business, it is important to protect the interest of the entire organization. Thus, when you choose to hire the services of these accounting firms, make sure that you make the right choice because your success will depend on the reliability of the people handling your finances.
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, an Irvine CPA or a professional who works anywhere in the county, remember, you have many options. The challenge is for you to choose carefully the people you’re going to trust.
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