Is My Accounting Firm Trying to Fire Me?

By Stacey Gorowitz, CPA, MBA With the continuing mergers and consolidation in the accounting industry, if you suspect you’ve become a little fish in a big pond, you’re probably right! As accounting firms move upstream and target larger prospects, they do not want to offend their existing clients by telling them that they are no longer an “A” client and it’s time to move on. Your firm may not directly tell you that your work is no longer a good fit for their firm. Even if you have a long relationship with your existing accounting firm, they may be trying to fire you if… 1)    They do not communicate with you throughout the year or return phone calls and emails in a timely manner. 2)    You feel like you’re training the person preparing your return because every other year there is a new staff person you have to educate about your business ,industry and the history of your family’s tax transactions. 3)    You’re concerned about the quality of the work because it feels … [Read more...]

Should I use an Accountant or a CPA – Does it really matter?

Stacey Gorowitz

By Stacey Gorowitz, CPA, MBA As a CPA in public accounting I often find many differences between a CPA and an accountant who is not a CPA. There are, of course, legal and licensing requirement differences, some of which are listed below. However, from a practical standpoint, does it make a difference to you as a person who needs to get your business financials in order? A few key differences are: Continued Education – a CPA is required to take a minimum of 40 hours of continued professional education per year. Continued education can be in many disciplines including tax law, financial statement reporting standards, ethics and technology to name a few. Education – a CPA is required to have at least an additional year of accounting courses beyond a 4-year accounting degree and typically studies extensively for the CPA exam, which covers extensive complex material beyond what is mastered in an undergraduate accounting degree. Financial statements - a non-CPA cannot … [Read more...]