CPA Support Service
Dayton,Ohio CPA Support Services, from Essex and Associates
In Ohio, a CPA firm must have its majority owner be a CPA. Dr. Essex, the owner of Essex and Associates, is not a CPA. He is a twelve year college professor that teaches CPAs as well as other accounting professionals. Essex and Associates in not a CPA firm.
Certified Public Accountants (CPAs) in Dayton,Ohio or for that matter, anywhere, are innovative and strategic thinkers who are well respected for their integrity and commitment to excellence.
They are dedicated to each client and work to satisfy their
business and financial needs.
CPAs provide a number of valuable and useful services to consumers,
business owners, government agencies and nonprofit organizations.
Their services range from helping an individual develop a personal financial plan to assisting a business owner with things like tax planning,
financial statement analysis and understanding complex financial transactions for business decision-making.
When you consult a CPA you are forming a business partnership with someone who values your success.
Our firm does employ and engage CPAs.
Our firm’s employees do take advantage of much of the same training required by CPAs.
Our accounting professionals participate in education and training regarding business issues, accounting, taxation, information technology, ethics and other topics, just like certified professionals.
When you hire a CPA you can be confident they have met strict licensing and ethics requirements.
These requirements distinguish CPAs from other business and financial advisors.
Typically, CPAs must pass a rigorous national exam and meet stringent experience requirements in addition to completing five to six years of study at a college or university.
To maintain their licenses, CPAs pursue continuing professional
education that keeps them current with the latest business and technical issues.
In Ohio, every CPA must takes classes on ethics to satisfy continuing education requirements.
When you work with a CPA, you can be assured that he or she has mastered a significant body of knowledge.
First, decide what you want from your CPA.
While all CPAs meet the same basic education, training and licensing requirements, not all provide the same range of services.
Analyze your present and future financial needs.
After you determine your goals, the next step is to find a CPA. A good way to find a CPA is to ask someone you know and trust who they use.
CPAs normally base their fees on the time required to perform the services, the type of services required, the CPA's level of expertise and the complexity of the work.
With most accounting firms there are no "fee schedules". However, our firm is different.
We do “value pricing” on an engagement.
We quote you up-front the exact amount our services will require.
Since our firm uses many accounting paraprofessionals,our fess are less than full blown accounting firms.
Most tax preparation that is done in this country is not done by CPA’s.
Individuals and business leaders look to CPAs for advice on income tax and business tax strategies, and so they should.
CPA’s are the top of the accounting profession.
They assist clients with personal and business tax planning, preparing
income tax returns, and representing individuals before government agencies at federal, state and local levels.
As part of their ongoing education, CPAs stay up-to-date on current tax laws and regulations, which can save their clients substantial amounts of money and worry.
CPAs take the guesswork out of tax regulations and provide straightforward advice for staying on a clear financial path.
Many CPAs are also trained to prepare tax returns or represent a client to tax authorities.
However, with simple tax preparation the service of a CPA is general not required.
An accounting professional can do just as good of a job at a fraction of the costs.
Auditing (also known as assurance services) is one of the most important and well-known services CPAs provide.
Our firm does not do these types of audits.
Rather we delegate them out to one of the many locals CPA firms that we have a good understanding of their quality work.
Audits are conducted annually for publicly owned companies, privately owned businesses, nonprofit organizations and government agencies and groups.
These reports help owners and managers make operating decisions, enable creditors to evaluate loan applications, and help individuals make investment decisions.
A CPA may provide a client with three distinct services designed to meet a different need: compilation, review or audit.
Compilation — The CPA assembles financial statements using the client's data but does not provide assurance on the financial statement.
Compilations are useful in assisting small, non- public companies.
During a compilation, the data is simply arranged into conventional financial statement form.
No probing is conducted beneath the surface unless the CPA becomes aware that the data provided is in error or incomplete.
Review — A private company may engage a CPA to perform a review of its financial statements and issue a report that provides limited assurance that material changes to the financial statements are not necessary.
With respect to reliability and assurance, a review falls between a
compilation, which provides no assurance, and the more extensive assurance of an audit.•
Audit — A public or private company may engage a CPA to audit its financial statements.
Management is responsible for the content of its financial statements regardless of an organization's size or form.
The audit, provided by the CPA, is a report that provides an opinion
on whether the financial statements are presented fairly in conformity with generally accepted accounting principles.
An audit is designed to provide the highest level of assurance that the
financial statements are free of material errors and fraud.
Internal Controls — Learning how to protect the resources of a company is a key element in running a successful business.
CPAs can help business owners understand the importance of
organizational controls by evaluating or setting up procedures to reduce the risk of fraud.
To help individuals maximize their income and plan for a secure future, CPAs offer a variety of financial services, which include: personal financial planning, retirement and estate planning, college funding,
investing, risk management and business succession planning.
A few ways CPAs can help individuals with financial planning include:
Developing a personal budget, offering recommendations on ways to save for college or planning for retirement.
CPAs can also offer advice on investment opportunities or assist
with estate planning needs to ensure beneficiaries receive the maximum benefits.
You are not required to be a CPA to help with these services.
CPAs are trained to look at businesses with an objective eye.
They can help you identify weaknesses in your organization and offer suggestions for improvements.
A CPA can be your most valuable business partner, one who helps you reach for success.
Always use a CPA when the situation warrants .
In less key situations, an accounting professional may be retained.
To work with some of the best CPAs Dayton, Ohio and the Miami Valley have to offer, go to the professionals at Essex and Associates.