Accounting businesses continue to evolve and find themselves involved in varying degrees of financial issues. The accounting firm industry should monitor accounting firms and CPAs news and trends as well as federal regulation policy changes. National CPA firms need to know where they fit in the scheme of things as it relates to their own clients’ best welfare.

Find the most information you can about public accounting companies by keeping up with the latest accounting firms and CPAs news and trends. Whether you run a small business or a large corporation, you need to receive regular news regarding national accounting firms to remain competitive. Look for public accounting firm news by communicating with other business owners with similar needs. Find out about local accounting firms through networking ad trade associations. Use industry publications and business-owner blogs to receive the latest accounting firm info. Discover numerous ways to keep up with CPA companies and their news and trends.

1. Use trade association publications to keep up with CPA firms

2. Subscribe to publications for accountants

3. Sign on for email alerts and newsletter from public accounting companies

Action Steps
The best contacts and resources to help you get it done

Share information with other accounting businesses

Blogs are increasingly becoming the media of choice for many small business owners looking for quick and efficient means to communicate with other like-minded professionals. Find an Internet blog that provides trustworthy information and attracts reliable posting participants. Talk to other local accounting firms in your networking groups to find out what they are doing that may be new or innovative.

I recommend: The Chartered Institute of Management Accountants devotes a lot of emphasis on educational resources for its members. Take advantage of their many publications to keep on top of accounting firms and CPAs news and trends. Business Finance Magazine covers a wealth of accounting topics as well as provides an opportunity to share ideas with other accountants through its blogs.

Read up on changes in accounting firms

News about accounting companies continues to dominate many of the accounting publications available online and in hard copy print versions. While you may get regular email alerts and newsletters from your trade association, it's a good idea to stay on top of the industry as a whole so that you can know about changes that affect the industry as a whole.

I recommend: Stay in touch with global issues affecting the industry from the perspective of its leaders through CFO Magazine. The Journal of Accountancy is one of the industry leaders for the latest news affecting accounting businesses.

Receive accountant firm email alerts

While most business owners are trying to clear out their in-boxes to save time, you should allow at least one information provider to get into your email with alerts about new CPA companies and their latest news. You shouldn't miss out on vital accounting firm alerts just because you want to avoid spam.

I recommend: Stay in touch with industry news and trends through one or more of the publications published by the American Accounting Association. Sign up for a free copy of the CPA Journal before buying a subscription to see if its contents serve your information needs.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Set up a separate email account to receive email notices about accounting firms and CPAs news and trends and industry publications so that you don't have to read them until you are ready and they won't clog up your in-box.

Minding the books is time-consuming and detail-oriented work and, unless you love doing it, you'd just as soon hand off to someone else. The trick is putting your sensitive financial information in the right hands. Common accounting tasks include:

1. Entering and updating daily account ledgers.
2. Running and maintaining computer accounting systems.
3. Performing periodic audits and checks.
4. Producing monthly and quarterly reports.
5. Running payroll functions.
6. Filing income taxes.

Action Steps
The best contacts and resources to help you get it done

Find a bookkeeper

Entering transactions in a ledger as they occur is probably the most basic accounting function in any business. Every small business needs a bookkeeper, even if it means you do the task yourself. In a traditional mom-and-pop business, one spouse usually takes the bookkeeping job. If you're going to hire outside the family, you'll need to find someone both capable and trustworthy.

I recommend: Bookkeepinghelp.com maintains a directory of bookkeeping services by state and city. You can also advertise in your local newspaper.Interview your candidate with the bookkeeper hiring test from The American Institute of Professional Bookkeepers.

Hire an accounting professional

Whether or not you hire a bookkeeper, you'll still need an accounting pro at least, to help with your annual income tax filing. As your business grows and becomes more complex, you'll need more accounting services like monthly reports, income statements and audits. Certified Public Accountants have passed an exam testing their knowledge on the most rigorous tasks like audits. Enrolled agents are accountants who have passed an IRS exam and are licensed to practice before the IRS.

I recommend: For a primer and worksheets on determining when your business needs more professional help, see Inc.com's Moving from Bookkeeping to Accounting to Finance. Find anaccounting professional through the CPA Directory and the National Association of Enrolled Agents.

Add or upgrade accounting systems

Computers and software have automated much of the more tedious accounting work. The problem is that you have to know what to buy and how to use it. Basic, off-the-shelf PCs and software will do the trick for most small businesses. But bigger businesses need more sophisticated solutions that may require consultants to evaluate your needs and recommend solutions.

I recommend: The standards like Quickbooks or Microsoft Office Small Business Accounting will handle most small business needs. Quickbooks also peddles training programs to help you learn to use its system. CPA Online will find you accounting software specific to your industry. You can use a company like Paychex to handle your payroll.

Add a controller or chief financial officer

You know you've arrived when you need a finance czar to look after your company's money. A controller or the even loftier CFO provides strategic and long-range financial organization and planning. They should understand all aspects of business finance as well as computers and software. At this level, the person should be highly trained and experienced in business and will expect to be compensated accordingly.

I recommend: Take your time hiring someone at this level. Try advertising in trade journals or posting your job on a Web site like JobsintheMoney or CareerBuilder. Or you can try a headhunter like Robert Half International.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Hire expertise: Look for certificates, licenses or other evidence of proper training when hiring accounting professionals.
• •  Keep it simple: New and very small businesses don't need expensive and elaborate accounting systems. Watch out for advisors and consultants who try to upsell you with systems designed for larger and more complex organizations.
• •  Monitor security: Remember to establish checks and balances in your accounting system. Small businesses are especially vulnerable to theft and fraud when a single accountant or bookkeeper handles every aspect of an accounting system.
• •  Stay involved: Even if you hire top-notch advisors, the ultimate financial manager of any small business is the owner. Read and understand the ledgers and reports that your accounting professionals provide.

Accounting firms are always looking for talented fresh faces to join their team of experts. To land one of the many jobs at accounting companies, you need to get the proper training and build a resume of schooling and experience that you can bring to the CPA firms. Successful accounting firm professionals bring a combination of formal training and on-the-job accountants training.

There are a number of schools that provide Internet accounting diplomas and certificates. You’ll often have to take a low-end job to get your foot in the door of national accounting firms to build your resume. Make sure that while you’re advancing you also remember to work on building relationships within the local accounting firms community. Find training for national CPA firms in a number of places.

1. Get an online degree for accountants

2. Look for job training through organizations for CPA firms

3. Use an online company for additional training for CPA companies

Action Steps
The best contacts and resources to help you get it done

Go to an Internet school for accounting businesses

You can get a certificate or a professional degree through a number of online universities and other training programs. While most public accounting companies will want to see at least a Bachelor's degree, any other certificates you can acquire will aid in your job search. Get your CPA credentials to help you land a good spot as well.

I recommend: You can get either an Associates or Bachelors degree in accounting online from Sullivan University. Go for an advanced degree in accounting online from Florida Atlantic University.

Join accounting firm associations for training

Most professional organizations offer continuing education programs as well as seminars and other opportunities to increase your accounting skills. Take advantage of the training while you are making those important connections that can land you a job and further your career.

I recommend: The National Society of Accountants offers a wide range of professional development courses to its members. Find a plethora of classes and seminars through the Association for Financial Professionals.

Earn certificates for accountant firm advancement

Even after acquiring your advanced degree, you need to keep up with the industry and pad your resume with other certificates and training programs. In addition to the seminars you attend, look for niche subjects to gain proficiency in to enhance your employment opportunities. Add every new certificate to your resume and keep all the official copies of your successful completion of these courses to frame and hang on your office wall.

I recommend: Find a wealth of training opportunities at Becker CPA Review. The CPA Training Center can help you review for the CPA exam as well as get a slew of other certificates to further your career.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Check with your employer to find out if your company pays for training for accountants. Often, a public accounting firm will support your efforts to get a license.

Accounting firms and CPAs record and report financial transactions. CPAs service individuals as well as businesses, and even government entities. Depending on the type of service necessary, the financial accounting differs as do the industry standards. The following key terms will help you differentiate the types of accounting that CPA firms and general accounting firms handle. There are also various accounting boards that set the accounting standards to which CPA firms must adhere.

Action Steps
The best contacts and resources to help you get it done

Public accounting

These are accounting activities-such as tax services, general auditing and preparation of financial statements and reports-that CPAs provide to the general public.

I recommend: See the Principles of Accounting education site and the International Group of Accounting Firms for more information on public accounting.

Financial Accounting Standards and the Financial Accounting Standards Board (FASB)

Financial Accounting Standards are standards for accounting services set by the FASB. These standards are included in the Generally Accepted Accounting Principles, or GAAP.

I recommend: The New York State Society of CPAs has an extensive glossary of accounting terms. Also see the American Institute of Certified Public Accountants for more information on CPA standards.

Managerial accounting

This is the area of accounting that deals with reporting to internal company management. Management accounting deals with the early part of the financial chain, the planning and execution stage. Public accountants come in at the end stage; auditing and tax functions verify managerial accounting records.

I recommend: For more information on managerial accounting, see the Institute of Management Accountants.

Generally Accepted Accounting Principles (GAAP)

The Generally Accepted Accounting Principles, or GAAP, are the basic guidelines and standards for all accounting and financial reporting in the United States. Guidelines vary slightly depending on whether the financial reporting is governmental or non-governmental.

I recommend: The Government Accounting Standards Board is recognized as the official source of GAAP for state and local governments.

Federal Accounting Standards Advisory Board

The Federal Accounting Standards Advisory Board sets accounting and financial reporting standards for United States government entities to promote public accountability and to develop an efficient and effective system for government financial reporting.

I recommend: See the Federal Accounting Standards Advisory Board for greater detail.

International Accounting Standards Board (IASB)

The IASB was developed to encourage uniform standards for international financial reporting. These standards are meant to ensure work of the highest quality that can be understood internationally.

I recommend: See the International Accounting Standards Board for greater detail on its mission and standards.