Traditionally, CPA firms provide businesses with accounting services. In addition to managing a general ledger, CPAs can provide reports such as cash flow budgeting, financial statements, cost-containment, and more. These reports can be valuable tools to assist with forecasting future growth, investing, and tax planning.
CPAs have a keen awareness of financial matters including a company's strengths and weaknesses. They are excellent consultants you can turn to for advice before making serious financial decisions such as investing in new equipment or making cutbacks in inventory or labor. This advice can prevent a company from disaster or guide it toward future growth.
When it come to taxes, no one knows your business's financial situation more than your CPA. If you are chosen to participate in an audit about your business's financial affairs and tax obligations, your CPA can provide you with the proper documents and paperwork to present to the auditor and/or represent your business during the audit.