Today's Licensed Public Accountant is a key member to the management team of small businesses, the professions and the public. Each client presents the LPA with an individual challenge to provide the best possible accounting and business management services on a timely basis.
Prompt financial statements are submitted to management which includes income and balance statements. Financial statements can be prepared on a monthly, quarterly, or annual basis. This enables the business owner to make sound present and future business decisions.
Cost Accounting can be implemented to assist management to make better decisions on expenditures in order to minimize costs.
Preparation of government-required income tax returns and forms has become an increasingly important service that can be provided by the Licensed Public Accountant.
Payroll services are available as an additional benefit by many LPA firms. This includes preparation of payroll checks for individual employees, recording of taxes deducted from wages and the completion of monthly, quarterly and annual reports or forms.
Careful budget planning is a critical factor in the future success of any business. Whether it is a new business or well established, the LPA will analyze market trends, review financial requirements and provide timely information to make sound decisions.
The LPA can prepare management reports for the firm. These reports assist in special studies and the compiling of statistics needed to chart the future of businesses, professions, and the public.
Many LPA's are also "enrolled agents" and thus by law are able to represent their clients before the Internal Revenue Service for income tax audits and other tax related matters.
Modern computer technology and software assists the Licensed Public Accountant in accurately reporting the financial affairs of their clients; as a result, the client can receive faster service and more accurate record keeping. With fast and accurate results, decisions can be made quickly for businesses both large and small.
A computer system can greatly benefit any business and can be specifically designed to meet the individual needs of the firm. The LPA is familiar with many leading computer and software products and can assist you with selections and implementation.
The LPA will work with you and your attorney in the preparation of your will and assist in the administration of your estate.
