Accounting Information Resources

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Do you own a small business that needs occasional accounting services? Perhaps you do not need a full time accountant, but you could benefit from specific services that will help you monitor your company's performance and avoid financial pitfalls. Learning more about accounting information resources could give you access to the options that you need to help your business grow.

Accounting information resources can include a wide range of options. Some of these companies, for instance provide training to accountants who want to become CPAs. Other companies, however, focus on services that small businesses need. You might, for instance, hire them during tax season to make sure that you take advantage of every possible deduction. You might also choose to have someone go over your financial records before applying for a loan that will help you expand your business.

Business.com can help you learn more about the services that you might need for your business. The links that have been listed at left will take you to websites that offer information about accounting services. After you have visited several of these websites, you should have a better idea of which resources offer the information and services that you need for your organization.

Making the Most of Accounting Information Resources

Accounting information resources are useful tools for professionals who strive for a current and accurate interpretation of the vast amount of complex regulations and procedures in the field. Public accounting information can be authoritative or nonauthoritative in nature as it seeks to advise professionals on technical issues.

Regardless of which is used, these resources bring about a uniform application of accounting practices and keep professionals informed. Reap the rewards of utilizing these sources by making the most of accounting information resources with the following steps:

1. Call a technical hotline for assistance with the application of accounting policies and procedures.

2. Consult with government sources when you need an authoritative accountancy reference.

3. Keep accounting reference materials current.

Utilize accounting information resources for technical issues

If you need help with information on accounting principles and standards, take advantage of nonauthoritative resources that aim to provide accounting references to tax professionals.
Try: The American Institute of Certified Public Accountants (AICPA) offers members an accounting and auditing technical hotline. You can call an 800 number or use an online form to get free nonauthoritative advice on accounting principles, auditing, attestation and SSARS standards. The Governmental Accounting Standards Board (GASB) also employs a technical inquiry system to encourage uniform application of Generally Accepted Accounting Principles (GAAP). Call, e-mail or submit an online form if you have technical questions regarding governmental accounting and financial reporting.

Get authoritative accountancy information from the government sources

Go straight to a government source when you need official guidance on procedures, regulations, rulings and more. Utilize online government resources to access forms, publications and other tools for tax professionals.
Try: Read interpretations of federal securities laws or seek guidance from the Office of the Chief Accountant (OCA) through the U.S. Securities and Exchange Commission (SEC) website. Questions regarding accounting, financial reporting, auditing as well as auditor independence are encouraged. The Internal Revenue Service (IRS) website offers tax accounting information for tax professionals. Visit the website for guidance on code and regulations as well as other resources that include Tax Hints, e-News, bulletins and more.

Subscribe to accounting research and reference sources and journals to enhance industry knowledge

Request research on accounting journals as well as news feeds, commentaries and other sources to stay abreast of changes in the field.
Try: The Center for Audit Quality (CAQ) provides alerts, comment letters, news feeds, research and more. Sign up to receive notifications from the SEC Regulations Committee and International Practices Task Force. The American Accounting Association (AAA) offers links to accounting research resources that include the AAA Monographs as well as access to databases with indexed accounting research.

Professional associations for accountants typically offer a wide range of accounting information resources that includes magazines, newsletters, career development and more. Become a member of an organization to stay informed and get connected with other professionals in the field.