Value of having a CPA on your staff

  • Creator
    Topic
  • #161591
    pshustler
    Participant

    Knock on wood, but if I passed FAR this testing period, I will be done and our owner has said he will refund half of my cost for Becker Review. However, he wants me to come up with a list of reasons why having a CPA on his staff is worth the educational investment he is making. I have a couple of basic ideas, like Financial Statements by a CPA are required by banks for our loans and things of that nature. Do you guys have any other ideas?

    Thanks

    BEC - 86
    AUD - 94
    REG - 88
    FAR - 89

Viewing 7 replies - 1 through 7 (of 7 total)
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  • #294667
    Laura
    Participant

    It adds credibility to his department/staff….I'll think of more reasons later but that's the first one that came to mind.

    REG-80, 77, 77
    BEC-67, 68, 71, 67, 71, 74, 71, 74, 72, 77
    FAR- 72, 65,67, 53, 75 (truth be known the 53 was with 4 hours of studying)
    AUD-58, 62, 72, 74, 74, 75
    took 5 years but I'm DONE!!!!!!!!!!!!!!!

    #294668
    funnyorCPA
    Participant

    What industry do you work in?

    CPA - Done
    CFE - Done

    My life as an auditor at a small CPA firm:

    https://anauditorslife.blogspot.com/

    #294669
    pshustler
    Participant

    I'm the controller for a team of companies that is involved in construction and real estate

    BEC - 86
    AUD - 94
    REG - 88
    FAR - 89

    #294670
    jelly
    Participant

    Besides, an EA or a lawyer, you'll also be able to represent the company before the IRS, should a need arise.

    Couldn't pass again!

    #294671
    jelly
    Participant

    -With a professional designation, there are certain minimum standards you are expected to follow, promote and continuously uphold, which is regulated by state licensing boards and other standard-setting professional bodies (so your boss can expect better work from you than from a non-licensed accountant)

    -Your yearly CPE requirements mean that you'll have an opportunity to learn more about ongoing accounting trends and tax legislation in your industry, and ways you can help the company prosper.

    Couldn't pass again!

    #294672
    pshustler
    Participant

    Thanks Jelly. Good advice

    BEC - 86
    AUD - 94
    REG - 88
    FAR - 89

    #294673
    MC-FutureCPA
    Participant

    In case you don't know, those financial statements you're planning on issuing will need to be designated as prepared by a CPA who is not independent of the company. Not sure how picky banks are about independent vs. not , but that may put a kink in that one.

    Probably Couldn't and Wouldn't Want To Pass Again!!

Viewing 7 replies - 1 through 7 (of 7 total)
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