Accounting, Outside CPA Firms

IDEA: Cut your external audit costs. Ask your CPA firm to do early preliminary work prior to yearend to cut costs. Ask when they are NOT busy? 0 (0)

A- A- A+ Arrange year-end CPA audit field work to be done before yearend where it is possible.  Do not rack up auditor and staff overtime because you waited until the year was over and everyone is under the financial audit package deadlines from the banks!  These firms are not as busy during the 4th …

IDEA: Cut your external audit costs. Ask your CPA firm to do early preliminary work prior to yearend to cut costs. Ask when they are NOT busy? 0 (0) Read More »

IDEA: Be honest with your external auditors. They help to determine your next tax bill. 0 (0)

A- A- A+ Be honest and upfront with your external auditing firm.  You want them to trust you in order to get your required audit finished and the statements prepared normally for your bank’s  review (and owners).  The auditors work for you so do not delay getting them information so they can finish the audit …

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IDEA: Ask your CPA firm to perform financial comparisons of you to others in your industry. 0 (0)

A- A- A+ Your CPA firm has lots of information from other audited firms and from their own clients. Ask if they will prepare a comparison of your company to others in your or a similar industry. You are not interested in the names of the companies involved (privacy prevails), but you would like to …

IDEA: Ask your CPA firm to perform financial comparisons of you to others in your industry. 0 (0) Read More »

GPI 121 – Ask your CPA firm to compare your performance to that of others in the industry. 0 (0)

A- A- A+ Save this Article(0) Please Log In to save this articleAsk your external CPA auditor for comparative ideas and comments.  Ask them how your company compares to other companies the firm has analyzed since they cover dozens and maybe hundreds of other firms that may have the same problems and issues to solve …

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GPI 085 – Do not lie to your CPA firm – they are the ones helping to cut your tax bill. 0 (0)

A- A- A+ Save this Article(0) Please Log In to save this articleDo not lie to your CPA firm.  When you hire a professional CPA firm to audit your books, normally you do so because of your intent to sell stock or to validate compliance with the covenants of a bank loan.  Whatever your reason …

GPI 085 – Do not lie to your CPA firm – they are the ones helping to cut your tax bill. 0 (0) Read More »

GPI 046 – Arrange CPA field work to be done before YE. Do not rack up OT because you stalled until the year was over 0 (0)

A- A- A+ Save this Article(0) Please Log In to save this articleAsk ahead what you can do to spread out the field work of your CPA firm.  If your year-end is December 31st, the field work does not all have to be done after Jan 1st.  Ask what testing can be done on November …

GPI 046 – Arrange CPA field work to be done before YE. Do not rack up OT because you stalled until the year was over 0 (0) Read More »

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