Why It Makes (Dollars and) Sense to Hire an Accountant to Do More Than Just Prepare Your Tax Return (continued from Friday)

by Gary Krupa, CPA


The business owner or director of an organization should meet with the accountant at least a few times a year, even if the only services they require are tax planning and return preparation. This is because the accountant can better advise their client regarding tax saving strategies if the client makes the accountant aware of their financial situation on an ongoing basis.

Accountants are superbly trained to create and maintain business systems, especially accounting systems. This provides an organization with a solid financial foundation. Think of the footing laid by a mason when building a retaining wall. The footing prevents the wall from collapsing in a monsoon, or when mud places pressure against the wall. In much the same way, an accounting system is an important element of a good system of internal control, which makes financial reporting more reliable, and minimizes the possibility of theft or collusion.

The management of an organization, especially one that's expanding, depends upon their accountant to help them interpret the raw bookkeeping data in a meaningful way, so that the management will be better able to make sound business decisions.

Tomorrow's entry: What prevents many small organizations from achieving their potential, and how an accountant can help an organization achieve theirs.

Gary Krupa is a CPA in New York and Arizona, with more than twenty-five years experience providing accounting, tax, audit and computer services to small and medium-size organizations. He’s especially attentive to the needs of his clients. He moved to Rimrock, Arizona in late May 2008. He has offices in Rimrock and Peoria, AZ. His e-mail address is gkcpa@q.com.
Read more about Gary Krupa's accounting service by following this link:

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