Friday, July 10, 2009

Accountant or CPA - which is best for me?

One of the biggest questions a business owner faces when selecting a professional to perform accounting functions is whether to hire a CPA or non-CPA accountant. Most people think that CPA is always best and all non-CPA are not smart enough to be a CPA otherwise they would have it. While CPAs are to be given the professional respect that they deserve, it is ill advised to assume that a CPA is always best for you. Especially if you have a new or small business, you should give serious consideration to a non-CPA firm that can offer total accounting function – monthly bookkeeping, quarterly tax preparation, and accounting advice.

There are situations in which talented accountants do not pursue a CPA designation because they do not meet one or more aspects of CPA qualification determined by the State Government. The most common is no prior experience working for a CPA. Nearly all CPAs earn this designation after college as they work for a public accounting firm in their audit division. Alternatively an accounting graduate can elect to work for a private company in their accounting department. Other reasons for not pursuing a CPA include no desire to work with publicly traded companies or governmental agencies. These entities require accountants to have a CPA in order to be hired.

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