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

The 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.

Are you interested in hiring a certified public accountant, or CPA, for your business located in Irvine, California, or the surrounding area? There are a variety of reasons you might be seeking the help of a CPA in Irvine.

Maybe you’re looking for someone to audit your company’s operations so that you can cut wasteful spending. Perhaps you’re wanting someone to help you prepare for the tax season before it begins, to ensure there are no unpleasant surprises later. Whatever the reasoning, you want to make sure you find the best CPA for the work at hand. Use the questions below to help find the best CPA fit for your company.

1. Do you have a specialty?

Even though many CPA’s choose to serve a broad variety of industries, you want someone who has the most experience in your industry. A CPA who works in your specific industry will be able to pinpoint irregular expenditures and find tax breaks with a finesse that someone with broader experience might not be able to.

If the industry your CPA has experience in is not your primary concern, you might want to search by accounting-related specialty. For example, you might hire a CPA to try and pinpoint the source of irregular spending from one of your employees.

In that case, you would want a CPA that specializes in audit and review services. This tells you that your CPA has worked on cases similar to yours and is highly qualified to manage your case.

Even if you are looking to benefit from a CPA with broader experience, knowing about their past work will help you gauge their level of expertise, as well as the room that your CPA offers to grow with your as your business expands and evolves.

2. How long have you been in business?

One of the first questions you should ask any service provider is how long they’ve been in business. In this case, there are two different ways you can frame this question.

First, you can ask how long the company through which the CPA has been in business. Next, ask them how long they have had their individual CPA certification.

The longer the company has been in business, the more you can trust the judgment of the CPA’s they’ve chosen to hire to work in their firm. Firms with more than fifty years of experience, like White Nelson, have a higher standard for the CPA’s they hire.

Experience matters, especially in accounting because it ensures that the CPA has experienced a variety of technical intricacies. Take an audit, for example. An experienced auditor will be able to identify certain trends that they’ve seen in the past, thus connecting the dots with more success.

3. Who will I be working with?

An accounting firm is likely to have several qualified CPA’s that can help you with different accounting aspects of your business. Each CPA will have their own strengths and weaknesses.

It is possible that the option will present itself to work with the same CPA throughout your time with a firm or to work with several different CPA’s within the same firm. These options can depend on your needs as well as the workflow of the firm you hire.

If you’d like to work with the same CPA the entire time, your firm is likely to accommodate. However, working with a team of CPA’s can also yield results, as you get to benefit from the strengths of each CPA–your own financial wonder team!

4. What are the fees for your services?

There are many, many different ways that CPA firms charge their clients. Because of this, you will want to ensure you understand a firm’s fee structure prior to choosing to retain their services.

Some will charge a pre-set rate on a task by task basis. Others will charge down to the very minute that they service your account. Neither way is right or wrong, but you’ll want to be clear on how you are being charged to prevent any miscommunications later.

Feel free to ask how CPA’s track their minutes when you are not around, or what their fixed-rate price offerings are. Asking these questions will help you decide which way you’d prefer to be charged, in order to continue on the path to meeting your financial goals.

5. Do you work locally?

If your business is in, or near, Irvine, California, then you’ll want to hire a CPA firm that can say the same. A local firm can ensure you are following federal law, state law, and local ordinances that out-of-town CPA’s are unlikely to be aware of. Some cities even offer tax breaks, and you will certainly want your CPA to be up to speed on those!

More importantly, their proximity to your business will mean that you will always remain a priority. You’ll always be able to meet in person and benefit from conveniences like being in the same time zone.

Ask These Questions to Find an Irvine CPA Firm

Now that you’ve gathered multiple questions to ask while searching for the perfect CPA firm in Irvine, California, it’s time to head out and find the right fit for your needs, as well as the needs of your company.

For more inquiries, please feel free to reach out via our contact page. We will be happy to assist you further!