One of the best things any Portland business owner can do for their business is to hire a capable, knowledgeable accountant or CPA. Hiring someone whose profession is working with finances to help with your Portland business will be a huge benefit to you. Portland business owners may wonder who is best to hire – an accountant or a CPA? What is the difference between the two?
ACCOUNTANTS
An accountant is simply someone who works professionally with accounting. Accounting usually entails the recording and reporting of business and financial transactions. Anyone who performs these functions can call themselves an accountant. Although many accountants do have an accounting-related degree, a degree is not required to call oneself an accountant. This is important for Portland business owners to remember. If you feel more comfortable with an accountant who has some level of formal education, be sure to ask if they have a degree.
Non-certified accountants usually perform tasks such as bookkeeping, maintaining general business accounts, and taking care of simple tax-related matters. However, all accountants with the appropriate training and experience can perform a wide range of services.
CERTIFIED PUBLIC ACCOUNTANTS
A Certified Public Accountant, or CPA, is an accountant who has met state licensing requirements. Although requirements vary by state, they typically include minimum education (usually a bachelor’s degree in accounting) and experience requirements, plus passing the CPA exam. CPAs also have to complete 40 hours of continuing professional education every year, which means they are informed of all the latest in requirements for their field.
What Are The Advantages Of Hiring A Certified Public Accountant For Your Portland Business? Portland business owners should consider their needs when hiring an accountant or a CPA. Keep in mind that a Certified Public Accountant will be more thoroughly familiar with your particular state’s legislature and how that changes over the years. Additionally, there are some things a CPA can do that an accountant cannot. For example, CPAs prepare three main types of financial statements: audited, reviewed, and compiled. Only a CPA can prepare an audited financial statement or a reviewed financial statement, although any accountant can prepare a compiled financial statement.
If you’re ready to hire an accountant or CPA for your Portland business, you can discuss your options with Business & Accounting Solutions.
Portland Business Owners Seek Help With Bookkeeping And Accounting Through Business & Accounting Solutions. Looking for a professional bookkeeper or accountant for your Portland business? Business & Accounting Solutions, LLC., brings a level of knowledge and capability in finance and accounting to Portland businesses to help them stay in compliance and on the path for growth. We offer a wide range of outsourced CFO and accounting services including bookkeeping, payroll, cash flow, finance consulting, and financial statement preparation along with QuickBooks consulting services. Contact or call us today at (503) 710-6213. Know someone in need of CFO or Accountant services? Consider our referral program.