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What specific roles will my accountant play?

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All of the benefits of an accountant are generally categorized under several main rolls that the accountant can play in your company. If you are considering hiring an accountant but aren’t sure exactly what their job description will be, look no further. While this list is not set in stone (You may want to arrange with your accountant different expectations for his or her work within your company), it will give you a good idea of the roles that accountants are known for. They can handle your:

• Bookkeeping. You accountant will be able to keep detailed records of how much money other people owe you and how much you owe other people. The records will also reflect how much money has been invested in equipment and supplies. In addition to these services, your accountant can also put together all of your financial statements and handle bank reconciliation.
• Taxes. Not only will an accountant be able to correctly file your taxes – which will hopefully prevent an unnecessary IRS audit – they will also be able to help you save major money through tax planning and saving strategies. This will add value to your business. Your accountant can also help you with your audits (which are mandatory for public companies and sometimes necessary for private), reviews, and compilations. With all three of these services, the accountant will determine whether the financial statements accurately and fairly represent the financial status of the company, and the accountant will create financial statements to reflect these assessments.
• Business consulting. With this specialized service, your accountant can help you find ways to cut costs and improve your profit.
• Business valuation. If you are looking to sell the company, want to plan for your estate, or are applying for a loan, an accountant can help provide you with valuations.
• Financial planning. Your accountant can help you look to the future of your business and plan for ways of passing it on or selling it without hitting a huge tax problem.

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