How to Protect Your Business with a Specialized CPA | CPA 70808
When managing the finances of your business, it is important to hire an accounting professional that is able to pay attention to detail to a high degree. This is why hiring a certified public accountant (CPA) should be one of the most important first moves you make.
A CPA is responsible for much more than just balancing your finances at the end of each quarter. Change your mind to think of a CPA as more of an advisor. Being a business owner, you can experience different obstacles and barriers.
The role of a CPA is to guide you through the various pitfalls you may encounter. Some routine tasks covered by a CPA include overseeing point of sale transactions (POS), billing, cash flow, and accounts receivables/payables. Unlike a general accountant, a specialized CPA can counsel you on industry-specific best practices.
Sound Financial Advice for Business Owners
It is difficult for many business owners to hand over control of their office finances. A specialized CPA can provide additional understanding to strengthen the financial health of your business and to provide an extra set of eyes to give you the financial advice you need when making an important business decision.
Maybe your staff is not matching your production levels, but you would not notice it unless an outsider told you. Also, they can give you advice on when it comes time to invest in new equipment and tips on what you can do now in order to minimize your tax payments in the future.
Fraud Prevention
One of the most common occurrences in business is fraud, and it can derive both internally and externally. Businesses can lose thousands of dollars from employee theft and insurance claim irregularities.
You know how hard you’ve worked to grow your business, and it would be a shame to damage that. A specialized and experienced CPA knows how to spot red flags and methods relating to industry-specific fraud. They will help protect your business and livelihood with their keen understanding of how to apply fraud-deterrent policies and procedures to your everyday routine. Even if there is no fraud suspected, it is still necessary to conduct a risk assessment to indicate the likelihood of it occurring in the future.
A Smart Investment for Your Business
In order to run a successful business, it takes more than being able to type in numbers on a spreadsheet. A specialized CPA has an intricate understanding of the variables that will help the production of your business, and also will be able to listen to you and communicate clearly when it comes to goals and best practices.
Partner with a specialized CPA today to guide you towards a successful future. Contact our accounting office in Baton Rouge, LA today for a consultation.