When businesses require financial assistance, we immediately think they’re either using accountants, bookkeepers, or a mixture of both to ensure their financial documents and taxes are in order. However, many large financial institutions and businesses use certified public accountants who act as financial advisers.
For instance, a Hawaii CPA will work on a wide variety of financial matters, including business and personal financial planning and tax preparation. What makes a certified public accountant different than a regular accountant is the distinction that they have through their certifications.
Not only do certified public accountants need to go through rigorous testing but they must go through continued professional education in order to stay up to date on financial regulations and rulings. CPAs are regulated by the government.
Do You Need A Certified Public Accountant?
It’s recommended that if you’re running a business of any size, you should hire a certified public accountant as it’s unlikely that you’ll have the time to spend crunching numbers or trying to understand complicated tax forms.
The Advantages of CPAs
In addition to having the confidence in knowing your taxes are done correctly each year, a certified public accountant can help you create a budget that adheres to both your current revenue and expenditure streams, and offer strategic financial planning so you understand exactly where your business stands financially. CPA’s can also help with preparing financial statements, and help you with payroll and financial software setup.