Cpa Is A Natural For Providing Management Consulting Services

During my travels in the eastern half of the United States and Canada providing consulting services to small businesses, it never failed to surprise me when I heard repeatedly from clients that their expectations were for their public accountants to provide organizational performance improvement services to them as part of their ongoing relationship. But when questioning these small business owners as to whether basic analytical, planning and profit improvement activities were being provided by the CPAs, the answer was always a reluctant no. Having had an earlier career as a public accountant, I explained to the business owners that the consulting services had not been contracted for with the CPAs, and that the CPAs had primarily agreed to provide compliance services, including the preparation of the annual financial statements and entity income tax returns. I further explained that having obtained a Master of Science in Accountancy degree and having taught at several colleges, it was clear to me why their public accountants were not offering management consulting or organizational performance improvement services to their small businesses.

If the thought of the IRS paying you a visit gives you a miniature heart attack, you may be able to find some comfort in hiring a CPA. First of all, compliant bookkeeping will reduce your chances of being audited and having an accountable professional will help you retrace your footsteps in a worst case scenario.

Are you spending too much time with bookkeeping?

Businesses grow when the principles are out there interfacing with customers, developing products and improving the core competencies. If all of your time is consumed with paperwork, payroll and bookkeeping, then it might be a good idea to hire someone else to handle this relatively mundane aspect of the business.

Are you losing money and you don't know why?

Having a clear financial picture of your company is key to improving your business. An accountant can give you an accurate snapshot of your cashflow and areas that need attention so you know where to focus your energies.

Are you thinking of restructuring?

Being a sole proprietor works for some businesses, but as you grow, you might want to think about incorporating. Choosing the right structure for your business can save you lots of time and money. A CPA can advise you on what's best for you.

By: Riki Clark

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