Hiring an Accountant

Because of the complexities of today's business world, many small businesses hire accountants. Your accountant will help you set up a bookkeeping system that allows easy access to the information needed to do the following: prepare your financial statements, do tax planning for your business, and complete your income tax returns.

Some accountants have professional designations, others do not. In Alberta, chartered accountants (C.A.'s), certified general accountants (C.G.A.'s), certified management accountants (C.M.A.'s) or registered public accountants (R.P.A.'s) all belong to associations which govern conduct, set uniform exams and qualification standards, and keep their members informed of developments within the industry.

Choosing an accountant who's right for you and your business is an important business decision. Ask other small business owners who their accountants are and if they are happy with them. In addition, the Institute of Chartered Accountants, the Certified General Accountants Association of Alberta, and the Society of Management Accountants of Alberta all provide a referral service.

Remember that accountants are highly skilled professionals, and they charge accordingly. Having your accountant do the day-to-day bookkeeping for your business is not an efficient use of their time or your money. Anything you can do to save their time will reduce your accounting costs.