Certified Public Accountants are professionals who provide financial services to individuals, businesses, government agencies and nonprofit organizations. They must take certain classes and pass specific tests and background checks in order to become a CPA in Yorktown. They can assist with matters like financial planning, tax preparation, bookkeeping and other financial matters.
CPA’s offer annual tax preparation services for individuals and businesses, and they provide year round tax advice and planning for various organizations. With the ever-changing tax laws, they must participate in continuing education courses to keep themselves up to date on the changes made each year. In doing so, they prevent their clients from having to constantly worry about these issues on their own.
Another accounting service, mainly in business, provided by a CPA is compilation. CPA’s use their clients’ data to create financial statements. If any issues or discrepancies are found, the CPA may need to dig below the surface of the initial data to find the source of the problem. This is known as review and is used to decide where the error stems from and if it was in calculation or if a deeper problem exists.
The next step provided by a CPA would be an audit. This is an in-depth report covering all financial statements produced by the business. It helps ensure all financial documents are error free and confirms whether or not fraud may be occurring. CPA’s can also help managers and business owners organize their financial structure to reduce the risk of errors and fraud within their company.
In regards to the aforementioned financial planning, CPA’s offer their clients budgeting services and financial advice. They help their clients with estate planning, investing options, establishing and maintaining college and retirement funds and other situations they may need to plan for.
From organizing the financial structure of a business or government agency to helping families secure their financial future, CPA’s have the skills and education to help with any financial needs. While some only seek the services of a CPA once each year for tax preparation, others need constant, in-house CPA’s as part of their corporate staff.