Forensic Accounting – Potential Places of Employment
We have gathered information from the Journal of Forensic Accounting and created an informative infographic. Forensic Accounting most literally means: the use of accounting skills to investigate fraud or embezzlement and to analyze financial information for use in legal proceedings. Here are the potential job placements for forensic accountants:
To learn more about Forensic Accounting and how to find an accountant, visit us at www.GoodAccountants.com
Finding an individual or company to provide bookkeeping services for your business can be extremely difficult. The difficulty is not in the lack of bookkeepers, but rather from the large number of companies and individuals who offer bookkeeping. How do you know which bookkeeper to choose? To find a bookkeeper may seem daunting enough, but then you must select from many choices.
Searching For The Bookkeeper
One of the easiest ways to find a bookkeeper is to perform a search online. Online registries of professional accountants and bookkeepers, such as Goodaccountants.com, provide information for reputable, experienced bookkeepers. You can also use a search engine to look for bookkeepers. Pay particular attention to the top ten or so listings, as they have earned the best internet reputations. You can also ask colleagues for recommendations for bookkeepers in your area whom they have been satisfied with. Another option for finding a bookkeeper is consulting the yellow pages of your local phone directory. You will find contact information at a minimum, and if the bookkeeper has an ad, you can find out more about individual services offered.
Once you have found some prospective bookkeepers, you need to narrow down your choices and make a decision. Many bookkeepers offer free consultations so that you can meet them and find out more about the services they offer and the fees that they charge. An individual or company that will offer you a free consultation is always a good sign, because it shows that they care about gaining new clients and are much more likely to work with you to suit your unique needs rather than a one-size-fits-all approach. By speaking with the prospective bookkeeper, you will be able to easily assess if their services are in line with your goals.
There are many important questions you will need to ask a prospective bookkeeper. You should, of course, ask about experience and get some references for companies they have worked for that are similar to your own. Every industry differs in its accounting needs, and what works in one industry is not always the best option for another industry. You know what your specific needs are, so be sure to choose a bookkeeper who is experienced and capable in those areas. If your business is related to the internet, for example, you will need a bookkeeper who is experienced with e-commerce.
You also need to establish how many hours per week you will need bookkeeping services so that you can find a bookkeeper who can accommodate your needs. If you are only looking for a part time bookkeeper, consider consulting an online registry, such as Good Accountants, that can provide you with contact information for accountants and bookkeepers that can be hired on a part time or short term basis. A registry can also provide contact information for bookkeepers that are available for full time employment as well.
An inefficient accounting system can cost you money. Duplicating payments, overlooking billing errors, and over paying taxes are just some of the ways that inefficiency in your accounting can cost your business. Problems with accounts receivable aspects, such as delaying the sending of invoices or neglecting overdue accounts, can also take a bite out of your profits. If you have concerns about the efficiency or effectiveness of the accounting operations of your business, then consider hiring a professional to conduct an accounting audit for you.
By discovering how your accounting system is costing you money, you can work on solving the problems, which will increase your profits. Not only will an audit find your accounting errors, but it will also find out why errors were made. For example, if overpayments are being made, an audit can discover the reasons for it. It may be that your software needs an adjustment, or it could be an error in the practice of your accountants. If you are losing money in many ways, such as over payments, duplicate payments or accrual errors, then an audit will detect the number and scope of the errors. Every error that costs you money reduces your profit margin, and understanding the reasons behind the errors is crucial to preventing the same kind in the future. Whatever the accounting problem may be, an accounting audit is the first step towards solving it.
If your business has grown, it is likely that your accounting system may not be growing with it. More business means more complexities, and complexities lead to errors. An audit of your accounting practices can determine if there is a need for additional employees in your accounting department, or if your current employees need additional training to manage new responsibilities. While good accounting software is a great start, your employees are just as important. Especially with the changes each year in tax laws and regulations, it is important that your accountants are up to date at all times on all of the tax changes that affect your bottom line. An accounting audit can reveal errors that have occurred in deductions that are costing you money.
A complete analysis of your accounting system by a professional and experienced auditor can not only find and recover errors, but it will help you devise new financial strategies. The percentage of the recovered money paid to the auditor will be made back many times over by finding and solving problems in your accounting system. Even errors of a few cents can add up over time, and audits often find errors considerably larger being made all of the time. An online registry of professional accountants, such as Goodaccountants.com, can provide you with a professional to conduct an accounting audit on your business.
Would your company benefit from having a chief financial officer (CFO)? Of course it would. A CFO oversees all of your business’s financial and accounting needs. CFO services include keeping your books up to date and providing financial reports. A CFO also offers strategies and advice for your company based on years of financial experience. Paying for this knowledgeable expert doesn’t have to break the bank, however.
Benefits Of A CFO
In addition to overseeing your daily financial operations, a CFO provides your business with many other benefits. They can offer your business new financial strategies that can maximize profit and help your company grow. A CFO can also provide your company with a financial contingency plan should the market go soft for any reason. They have insight into many financial trends, so they can advise you on opportunities to take advantage of as well as others to avoid. If your margins are not in line, they can analyze your business operations and devise a plan to solve the problem. A CFO can also help you to set up some longtime business goals or help you stay on track for ones you’ve already chosen.
What About Part-Time Help
With the help of part time CFO services, you can have all of the benefits without the hefty salary of a full time position. A part time CFO can work a couple of hours every other day or just a few hours a month at crucial times to help the financial ends of your business run smoothly. You may find that as they set goals and utilize strategies for your company’s success, you are better able to take care of or delegate your financial duties. On the contrary, as your business expands, or if you find the services of the CFO are invaluable, you may consider hiring full time.
A part time CFO also offers ease with hiring in and out. For example, if you need help with a financial project, and your other employees have too much to do or too little experience to adequately complete the job, you can hire in a part time CFO to get the project started. When the project is ready to be turned over to your regular employees, you can end the CFOs role.
Any business will run better with the knowledge and expertise of a chief financial officer heading up your financial operations. You can have the comfort and security of knowing that the financial aspects of your business are running smoothly, freeing you up to take care of other important aspects of running your business. CFO services can make your business more efficient and profitable as well. Consult an online accountant registry, such as Goodaccountants.com for more information on hiring a full time, interim, or part time chief financial officer for your business today.