3 Key Considerations When Hiring an Accountant

Accountant doing financingWhether your business is big or small, you need the services of an accountant to assist you with bookkeeping, financial planning, and tax work. To get the best accountant in Salt Lake City, Sorenson & Company noted to bear in mind these key factors to guide you with your choice.

Complexity of services

If you run a company that’s not that large, standard accounting services are enough to fit the bill. Bookkeeping, preparing general ledgers, and accomplishing financial statements can be easily fulfilled. You may also need an accountant to prepare your tax returns and make year-end financial reports.

If your company’s needs are complex and if you require tax and financial planning advice apart from standard work, consider hiring a firm that has a more comprehensive range of services. It’s best that the complexity of your needs also matches the complexity of an accountant’s services.

Certifications

It’s customary that you choose a Certified Public Accountant (CPA). The CPA designation shows the quality of the accountant’s skills. Passing specific exams for a licensure and certification is an industry requirement. A non-certified accountant may be able to work on financial statements, analysis, and bookkeeping, but when it comes to tax advice and return preparation, a certified accountant is mandatory. Additionally, accountants must also take courses and some tests to be updated with current industry regulations.

Industry expertise

Choosing an accountant who’s not adept with your industry or a similar industry isn’t advisable. Accounting firms now field accountants who have specialties, especially those who work exclusively with certain industry types and markets. Some firms partner with other firms to seek the services of specialists as well as to strengthen theirs. Select a firm that has industry expertise or specialists who know the nature of your business and its competitive environment.

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Choosing the right accountant requires a considerable amount of study of their services, qualifications, and expertise. Tap accounting services that fit your needs, your business’ complexity, and industry origin.