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White Nelson Diehl Evans CPAs
Menu
  • Our Firm
    • Close
    • Our Team
    • Our Impact on the Community
  • Services
    • Close
    • Accounting & Financial
    • Advisory
    • Audit
    • ERISA Audits
    • ESOP
    • Estate & Trust Planning
    • Tax Planning Preparation
    • Tax Services
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    • Close
      • Aging Services & CCRC
      • Business Services
      • Construction & Contracting
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      • Government
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Landing Page of Laptop with Accounting Services Concept. 3D.
24
Jun

7 Things to Look for in Accounting Firms in Irvine

Is it time for your business to outsource your accounting needs? All businesses can benefit from seeking accounting help, especially in light of the fact that 82% of businesses fail due to cash flow problems.

An accountant can assist you with bookkeeping, budget development, tax preparation, and more. These services will allow your business to stay compliant and will enable you to make more sound financial decisions.

However, not every two accountants are the same. You need to ensure that when you embark on your search for an accountant, you choose someone reliable, with the proper experience and certifications.

If you’re struggling to find quality accounting firms in Irvine, here are the seven best qualities that make for an ideal accountant.

Certifications

Certified Public AccountantsThe best accountants have certifications that allow them to meet all state requirements. First, you’ll want to look to ensure that your accountant has a degree. This degree program requires field experience and qualifying examinations.

In California, CPAs must meet specific requirements to achieve their degree:

  • Completion of undergraduate education, equaling one hundred and fifty academic credits
  • Twenty-four academic credits in accounting and business topics
  • Successful completion of the Uniform CPA Examination
  • Successful completion of the Professional Ethics Examination for CPAs
  • One year of experience in accounting that is supervised by a licensed accountant

Some CPAs will have additional certifications if they have chosen to specialize in a particular field. For example, the Certified Management Accountant, or CMA, handles a business’ internal financial demands.

Other common certifications you might see could include the Certified Valuation Analyst, or CVA, Accredited in Business Valuation, or ABV, and the Personal Financial Specialist, or PFS.

Size

There are many different firm sizes. They can range from an independent practice firm to a major national brand hosting multiple CPAs. While this shouldn’t impact the quality of your service, you will want to decide what size of the firm will be best suited to your needs.

Many businesses trust the reputation that comes with hiring a major firm. You’ll receive high-quality work and larger companies are reliable. Because they are able to host many CPAs with a variety of specialties, you can ensure that all of your needs will be competently addressed.

Industry Experience

Not all industries are alike, and none of them have identical accounting needs. Your accountant should have experience handling the finances for businesses in your niche. They may also hold specific certifications that demonstrate their dedication to learning more about your unique industry.

Reputable accountants provide a list of industries in which they have experience. Some may even offer information regarding the specific services they offer for each industry.

Some accountants work exclusively in one industry while others work across the spectrum of businesses. Decide if your needs call for a specialist or a generalist.

Referrals and Reviews

The best accounting firms have devoted clients who use their services frequently. If you’re struggling to find a good accountant, reach out to colleagues in your industry for recommendations. If that doesn’t yield the results you are looking for, research reviews.

Experienced accountants have honest reviews from past and current clients. Some even make this information available on their website.

If you’re reading reviews on a third-party source, make sure you read both positive and negative reviews to get a holistic understanding of the accountant you intend to hire.

The Services You Need

There are different accounting services, from tax preparation to budget development. Before choosing an accountant, think about what your business needs.

If you need an accountant for basic needs, such as bookkeeping and preparing your financial statements, find an accountant who works primarily with these services. On the other hand, if you need an accountant with intricate knowledge of payroll processing, take a look at their website to ensure they offer these services.

Fees

Every accounting firm will have different fees and payment structures.

For example, some accounting firms charge a set pay rate. This usually only occurs when you need a particular, fixed service, such as tax preparation or creating financial statements.

If you need more services or will use accounting services regularly, other firms may develop pay structures, such as a monthly rate. These structures are not only easier for you to manage, but they may help your business save money longterm.

Fees aren’t the only indicator of quality. You’ll want to take timeframes, consistency, communication, and honesty into consideration when weighing out different fees and prices.

Availability and Flexibility

Your accountant should be flexible and willing to communicate with you. This can include answering simple questions or more detailed calls for advice. With this in mind, how often you plan to see your accountant can be an important factor to consider.

Do you only plan on meeting with your accountant periodically to handle taxes and financial statements? Or do you want an accountant who is available any time you call? Make sure you know what you expect from your accountant and you communicate your needs accordingly.

Reliability is also a major factor. If you make an appointment with your accountant, they should be available. If they must reschedule, it should be with proper notice and professionalism. If an accountant is inconsistent or unreliable, you’ll want to hire another one.

We Are One of the Best Accounting Firms in Irvine

There are many accounting firms in Irvine, but not all accountants are the right fit for your business. Whether you need help with settling and maintaining a budget, or you need accounting for a specific niche, we have an accountant to fit your needs.

If your business is based in Irvine, you don’t have to look farther to find a great accountant. Contact us to see how we can help.

Irvine CPA
11
May

How to Find the Ideal Irvine CPA Firm

In 2019, the global market for accounting services grew to almost $574.4 billion. By 2023, that size is anticipated to reach $734.7 billion. The impressive growth of the public accounting industry over the years is proof of how crucial the accounting services sector is in today’s economy.

A reliable certified public accountant (CPA) can significantly boost your business’ revenue. Few entrepreneurs start their journey in business with a good grasp of how to organize and manage business finances. Almost every business owner can avoid common tax preparation mistakes by working with a seasoned Irvine CPA.

In this comprehensive guide, we tell you all you need to know about selecting the best CPA for your business.

What is a Certified Public Accountant?

A certified public accountant, or CPA, is an accounting professional who has successfully passed the CPA exam. Besides passing the CPA exam, a CPA must have fulfilled the state education and work experience requirements before they’re licensed to become certified public accountants. All standards CPAs must meet are set by the board of accountancy in their state.

CPA firms in Irvine CA help all kinds of businesses achieve their financial goals, from small businesses to multinational corporation.

Certified Public AccountantsWhat Does a CPA Do?

CPAs do a variety of jobs in accounting firms in Irvine, CA. Read on to learn more about some of these unique roles a certified public accountant can take on.

Auditing and Review

One of the primary jobs of a CPA is to audit your company’s financial statements and issue an expert opinion of those statements. As an unbiased third party, the CPA reviews and evaluates your business’ financial statement after they’ve been prepared by the management. Then, they give an opinion of the financial statements and disclose whether they’ve found any financial misstatements.

Tax Preparation

One of the most challenging things business owners encounter entails tax preparation. Fortunately, CPAs are experts when it comes to the preparation of various types of tax forms, from income taxes to property taxes. A reliable CPA will also advise you on what tactics you can use to structure your company’s affairs and reduce tax burdens.

Consultation Services

Public accounting firms are constantly engaged in consulting services to help companies determine business problems and conduct their operations more effectively. A CPA can offer consulting services by evaluating your company’s internal controls and suggesting operational improvements.

Forensic Accounting Services

Instances of employees embezzling money from businesses are quite rampant, with US businesses losing about $50 billion annually to workplace crime. In many cases, it takes months to uncover sophisticated embezzlement schemes.

A seasoned CPA can dig through your company’s financial records, identify any stolen money, and inform you of any fraudulent activities that may be happened without your notice.

Litigation Services

CPAs may not be licensed to practice law, but they can help discover and prove evidence as expert witnesses in the courtroom.

How Do You Select an Irvine CPA Firm?

With more than a million actively licensed individual CPAs in the US, selecting the ideal one to work with is easier said than done.

Check out the following list of six top tips to help you make the right decision regarding your choice of CPA firm.

Have a Clear Picture of Your Business’ Finances

Before you can begin interviewing CPAs, it’s important to know what your individual needs are. Take the time to gather your company’s accounts and keenly examine your finances. This way, you can figure out the kind of financial assistance you require.

How big is your business? How many employees do you have? What’s your budget?

The answers to these questions can help you choose a certified public accountant who is most qualified to meet your needs. For example, at White Nelson Diehl Evans, our CPAs specialize in a variety of industries, allowing them to hone their work to their clients’ exact industries.

Determine Which Services You Need

Few professional licenses are more highly regarded than the CPA license. However, no CPA can handle every accounting need out there. That’s why you need to determine what kind of tax or accounting advice you need before hiring the right person for the job. Hiring someone to manage your taxes annually will demand a dramatically different relationship than the person who handles the day-to-day finances of your business.

Value Experience Aligned to Your Industry

The best CPA for you is one with considerable experience in doing returns for your specific industry. You don’t want someone who has never heard of the type of work that you do to file your tax returns, especially when you run a big company where the task will be a demanding one. Sure, a more experienced CPA will probably charge a higher rate, but getting the job done right is worth every dime.

Consider Using a Local Firm

The benefits of working with a local CPA are many, with the biggest one being the ability to meet with your CPA in person and discuss your personal needs. Generally, you want to make sure that your initiatives are in line with your overall business goals.

Of course, there’s convenience in holding remote meetings in this day and age. Choosing a local firm means that even if you’re meeting virtually, you won’t have to work to shuffle your respective timezones, thereby providing an additional layer of convenience.

Seek Referrals from Your Peers

The best accountant is someone you can trust and feel comfortable working with. Arguably the best way to find such a professional is through referrals.

Talk with friends, colleagues, and relatives to find certified public accountants they’ve worked with previously. If they’ve had a good experience with a certain CPA, chances are you’ll have the same. Of course, you can also check out online reviews to get an idea of what to expect from a particular CPA.

Find a Personality Match in Your CPA

A good certified public accountant can become a great business partner. You want a CPA who will be able to advise you on how you can set goals and grow your company.

During your interview, find out about their communication preferences and work schedule. Also, consider personality fit and determine whether they’re really interested in working with you.

The Right CPA Can Make a Tremendous Difference in Your Business

There’s a lot of value in hiring the right Irvine CPA for your company. Not only will they take the stress out of filing taxes, but they also provide valuable guidance on how to make your business more successful.

Are you looking for reliable tax and accounting services for your business? Please contact us today.

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