While every Certified Public Accountant (CPA) is an accountant, not every accountant is a CPA. To earn the designation in Texas, an accountant must hold a four-year college degree or the equivalent, be of good moral character, have additional accounting and financial training, and pass the state’s rigorous CPA licensing exam. Here’s how hiring one can help your business grow and keep up with financial regulations.

3 Ways a CPA Can Serve You

1. Perform Tax Audits

With their extra training and state certification, Certified Public Accountants are prepared to perform tax audits. Some specialize in auditing certain types of businesses. Whether you need an internal review or representation before the IRS during a government audit of your business enterprise, a CPA is qualified and legally authorized to fill that role. 

2. Provide Financial Analysis

Certified Public Accountants have expertise in financial analysis. They can review and examine your financial documents, including profit and loss statements, cash flow statements, and balance sheets, to give you a clear picture of your business’ financial health. These accounting professionals can make financial forecasts and propose business and tax strategies that enable you to make and save money.   

3. Give Business Consulting & Development Advice

They can also advise individuals and companies on pricing their goods and services, managing their inventory and assets, and budgeting to achieve their financial goals. If you are considering the purchase or sale of an enterprise, a Certified Public Accountant can perform business valuations and assist with due diligence investigations so you get an accurate picture of what the business’s tangible and intangible assets are worth.   

A Certified Public Accountant can be your partner in growing your company. At Young Hoy & Burnett, CPA of Texarkana, TX, their team of licensed accountants offers a wide range of services to business owners throughout the Four States region. Whether you need financial consulting services, tax return preparation assistance, or auditing help, they will bring their 40 years of experience to each job. Visit their website now to learn more about their offerings. Call (903) 794-2211 to schedule a consultation.