| As an experienced general manager what I look | | | | to meekly agree with your decisions but you |
| for in my accountant has evolved over many | | | | want someone to tell you when they think you |
| years. I have learned that oftentimes the right | | | | are heading down the wrong road and why. |
| accountant knows more than I do and that this | | | | 5. Help you protect your business from |
| knowledge can make a vast beneficial impact on | | | | embezzlement, fraud, and dishonest employees |
| the performance of the business. | | | | through good financial controls and procedures. |
| I take for granted that a good accountant should | | | | They should also help you implement internal |
| at a minimum be a Certified Public Accountant | | | | procedures to more quickly detect any errors or |
| (CPA). A CPA standing should be verified and is | | | | omissions. |
| the best evidence you can get that an accountant | | | | 6. Provide an objective perspective about your |
| knows debits from credits and has a reasonable | | | | business performance. Your sales manager will |
| mastery of: | | | | overestimate sales and the operations manager |
| - Financial reports | | | | always fails to add in one-time expenses so you |
| - Accounting Standards | | | | need a clear and accurate picture to make |
| - Business Concepts | | | | informed decisions. |
| - Financial Control Issues | | | | 7. Save you money and increase your profit by |
| - Taxes and Regulations | | | | helping you identify "best" practices. This is where |
| A CPA is also a credential that speaks to ethical | | | | their experience gives them actionable insight into |
| values and a commitment to the public interest. | | | | the business. |
| Good CPAs are easy to find, but if you're really | | | | 8. Be involved in the business community. They |
| serious about building a great business it's worth | | | | should have contacts that can help you grow |
| the extra effort to find a great CPA. Great CPA's | | | | your business and form strategic alliances. |
| all have the following qualities: | | | | A face-to-face interview provides the opportunity |
| | | | to know if there's a "right fit" for your business. In |
| 1. Have a wealth of business experience. | | | | addition to all of the above, the chemistry |
| Experience with other businesses in your sector is | | | | between your personalities needs to match. And |
| even better. | | | | don't get lazy and fail to check their references. |
| 2. Think strategically about your business options. | | | | He or she should have a history of working with |
| They should offer suggestions on how to grow | | | | successful companies. It is reasonable to think the |
| your business next year and not just compile | | | | accountant had a part in that success. |
| reports from last year. | | | | So how do I find my accountants? A referral is a |
| 3. Help you execute a tax plan that legitimately | | | | good place to start but I have never run into |
| allows you to keep more of what you earn. This | | | | someone who didn't describe his or her |
| extends past the taxes that the business pays | | | | accountant as "great." Along with interviewing the |
| and includes the income taxes paid by the | | | | referral candidates you should perform an outside |
| investors and principals. | | | | search. Since changing accountants has a high level |
| 4. Are candid and direct in their conversations and | | | | of pain, it makes sense to take your time and do |
| communications. It is easy to find an accountant | | | | it right the first time. |