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

By Gary Krupa, CPA



The budget is another useful planning tool. This enables the organization to achieve its goals by knowing what they are and documenting them. The budget gives an individual or organization the best chance to achieve its goals by setting realistic targets concerning revenues and expenses, and then comparing the actual results with the desired or expected results, on a regular basis. The budget also helps the organization maximize its revenues and spend its money more productively.

Organizations and individuals usually don't prepare or maintain budgets because they don't want to know the details of their finances. They believe that a budget will reveal to them how little money they have and depress them. This was the reasoning given by Oprah Winfrey when Suze Orman appeared on Oprah on October 13, 2008 to give budgetary advice to Oprah's guests. However, unless someone maintains a budget, they're not in a good position to make sure that their expenditures don't exceed their income.

Tomorrow's entry: How an accountant can help you make more effective decisions, with financial wisdom, composure, objectivity and sophistication.


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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