Accounting professionals perform much more than their clients’ annual tax returns. Accountants must maintain accurate financial records and prepare tax documents for individuals and families, small to medium sized businesses, and large companies and organizations.
The financial records show whether the taxpayer made a profit and sustained a loss during the period. A professional accountant translates confusing financial information and organizes clients’ records so that they are easy to read and use. Properly prepared accounting documents allow clients to identify and correct problems associated with debt, cash flow, investments, and more. Clients in Hawaii may have specific accounting needs. A CPA in Honolulu assists clients in search of better financial health and long-term growth.
The accountant’s job involves recording, analyzing and reporting on the individual or company’s financial information and status. The accountant and accounting firm offer financial advice to clients. Accounting and finance services include:
• Accurate bookkeeping services to promote financial health: The client reviews bookkeeping services with the accountant on a regular basis and uses these records to make financial adjustments as needed.
• Maintenance of accurate financial details about business transactions in the company ledger: Information is then recorded in the business’ monthly, quarterly, and annual financial statements.
• Interpretation of financial data and statements to help the client identify both successful and problem areas.
• Specific industry and business expertise: The accountant may have developed many clients in the same industry and offer valuable perspective to clients as a result.
• Quarterly and annual tax preparation services required by federal and state governments. A CPA with prior IRS experience can provide in-depth insight into tax planning and defense strategies.
Certified Public Accountants
Not all individuals who work as accountants have the prestigious CPA credential. Certified Public Accountants (CPAs) are required to pass a difficult four-part examination. After obtaining the CPA, an accounting professional can work as a company auditor and attest to financial statements prepared on behalf of clients. CPAs also work within a client company finance and accounting team or augment the internal staff as required.
Professional accountants frequently join state and national CPA societies, such as the Hawaii Society of Certified Accountants and the American Institute of Certified Public Accountants (AICPA).
Choosing the right accounting and finance professional may save individuals, businesses, and organizations money. Invaluable peace of mind is a by-product of hiring a professional finance and accounting partner in Oahu, Hawaii.