Accounting firms offer a range of services to help business owners stay financially organized, tax compliant and this helps the business owner to prepare for business growth. Business owners shouldn't think of the cost of an accounting firm as merely an outsourcing cost for bookkeeping but as an integral business partner.

Not every accounting firm in NZ offers every type of service. As a business owner you should interview various firms to determine which is the ideal for the company's specific business needs. While some accounting firms specialise in niche services such as tax strategy, most firms offer bookkeeping and payroll services, tax preparation and business valuation services. The service is not only about tax planning and preparation and completing tax returns, although accounting firms specialise both state and federal corporate tax returns. Accounting firms also prepare for you year-end business documents. Business owners also offer accounting firms authority to represent the business owner's needs regarding notices, information requests or audits from the Internal Revenue Service (IRS).

Though many business owners provide the product or service of the business well they aren't always experts at the financial aspects of running a business. If you don’t know how accounting firms work you should know they can assist with copies of business bank accounts also. You can also send these to accounting firms that can work with bookkeepers to maintain accurate cash flow records. Accounting firms also maintain profit and loss statements that break down key areas of costs and revenue streams. Accounting firms act as an integral at the time a business feels to create valuation reports or to obtain audits which a financing firm requires. When a business need a loan or funding from a private investor, this transaction should be legitimately and accurately valued. It is necessary for mergers or purchases. Accounting firms can also look at previous years' revenues, book of business and growth patterns so that they can determine a reasonable value of the company to give to potential investors or buyers.
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