Accounting

Accounting

Why Do You Need An Accountant?

A good accountant is generally the quarterback of your advisory team. He or she is generally the first member of your advisory team that you will turn to for business advice.  You will need an accountant that speaks the language of the small-business owner, not accountant talk. An accountant will help monitor the financial health of your business, helping you avoid business risks and reduce taxes paid.  The accountant will complement your management team to ensure your business decisions are based on sound advice and good planning.  An accountant who is familiar with your type of business can also provide invaluable insight and assistance in reviewing your business plan. 

In Canada, accountants are regulated by the Chartered Professional Accountants (“CPAs”)  Association of Canada.  The Association represents the amalgamation  of the Canadian Institute of Chartered Accountants (CAs), the Society of Management Accountants of Canada (CMAs) and the Certified General Accountants Association of Canada (CGAs). 

How To Select The Right Accountant For You

A referral from a trusted member of your advisory team is always the best way to select an accountant.  These individuals are aware of your type of business and recognize that you need someone who has expertise in small business.  Professional associations are another source of accountants.  You can ask these associations to provide you with the names of accountants who provide public accounting services to small business in your local.  On-line searches, ads in newspapers and the yellow pages are also good sources of accountants.  A good strategy for the long-term is to make sure your accounting team includes an accountant with the skills of a Chief Financial Officer.

What An Accountant Can Do For You

The right accountant can help you in numerous areas, including: