| In any type of business, whether big or small, it is | | | | financial consultation, offering financial advice for |
| important to keep track of growth. Doing this will, | | | | individuals, small businesses and big corporations, |
| of course, need one to have a thorough and | | | | business record keeping, auditing, preparing |
| in-depth knowledge on the way a business should | | | | detailed financial reports, auditing financial books of |
| be run. There are some entrepreneurs who are | | | | companies, and preparing and reviewing financial |
| not organized, thus, making it impossible for them | | | | statements. |
| to keep records of their business finances. Even | | | | Every company needs someone or another |
| those who are religiously following their business | | | | company to keep and review their financial books |
| transactions may not also do so effectively due | | | | as these help in making tax-related decisions. In |
| to lack of expertise. In this case, certified public | | | | terms of taxes, there are many reasons why a |
| accountants or CPA's become indispensable. | | | | businessman would need to hire a CPA. |
| These are skilled, knowledgeable, well-trained and | | | | Everything, however, comes down to the fact |
| tested individuals who can help businessmen | | | | that when handling tax concerns, an expert is |
| organize their finances and be updated about their | | | | always needed. People who are not |
| business growth. | | | | knowledgeable nor experienced enough will always |
| Certified Public Accountant is the legal title for a | | | | have difficulty handling their own tax concerns and |
| qualified accountant who either works on his own | | | | will be incapable of assessing their tax situation |
| or is part of an accounting firm. A CPA has the | | | | right from the beginning. In effect, legal problems |
| responsibility to be true to this profession as | | | | may arise. |
| required by its code of ethics. He is obliged to | | | | Aside from the assurance of having accurate and |
| give his clients good and rational financial advice. | | | | precise data in a businessman's financial book |
| To retain his license, he must take 120 hours of | | | | reports, certified public accountants also make |
| continuing education courses every three years | | | | their personal guarantee that the tax returns they |
| as a way of staying updated with his profession. | | | | file are error-free. But should there be errors, |
| A CPA is an individual trained to do many things | | | | CPA's will offer to review data and work on the |
| including filing multiple federal as well as state tax | | | | documents again free of charge. This is a way of |
| returns, organizing receipts and other pertinent | | | | making sure that everything is done correctly and |
| documents, basic income tax preparation, auditing, | | | | to the best interest of the client. |