Business Owners – What Type of Accountant Do You Need?

Accounting services are essential services that can help business owners run their companies more efficiently.

Yet before hiring just any accounting firm, it is important to know the different types of accountants and which one to look for.

This summary of the five types of accountants should help companies in need of accounting services find the right ones that will help them reach business success.

  1. Certified Public Accountants - CPAs are expert business accountants who handle things like an organization’s payroll, financial records, taxes, and other financial matters, as well as providing financial planning advice to the business owner. They are the accountants who most business owners turn to for the bulk of their accounting needs. 
  2. Management Accountants - CMAs start out as CPAs but continue their education in managerial accounting so they can provide financial consulting services to their business clients. CMAs are useful when companies must make important managerial and financial decisions that will affect the future of the business. They may also provide credit and financial analysis as well as other financial services to help companies make wise financial-based business decisions.
  3. Accounting Auditors - Auditors perform accounting services to ensure the accuracy of financial records. These specialists are usually brought in periodically to help non-profits, for-profits, and other businesses verify their accounting records and correct any errors that might be discovered. 
  4. Forensic Accountants - When a company must review financial records to confirm adherence with certain laws or standards or even to detect fraud, accounting law firms that specialize in forensic auditing are called in. Forensic accountants are highly skilled accountants who also have a mind for investigation, uncovering mistakes, and detecting unusual patterns that could indicate wrongdoing or errors. 
  5. Government Accountants - Whether employed by a state, a city, a county, or even on a federal level, government accountants deal with assisting government agencies with their recordkeeping, their financial planning, and their allocation of funds.

Every company, no matter what industry or sector it does business in, needs qualified accountants to help in keeping its finances straight.

While general accounting services from CPAs are at the top of most business needs, some may require the occasional services of other accounting firms as well.

With accurate accounting services provided by these different financial experts as needed, any business can maintain accurate records and have a clearer understanding of their income and expenses, staying compliant where necessary, and how to become more profitable in general!