Reasons why your business needs CPA firm services?

What Is a CPA?

A CPA stands for Certified Public Accountant is a qualified accountant in several countries in the English-speaking world. In the US, the CPA is a license to provide accounting services to business owners. All 50 states have different Certified Public Accountant licenses, CPAs can help businesses as accounting consultants, auditors, tax consultants, business and financial advisor among others.

To run a successful business, it’s very important to manage finances in a very calculated way. Whether your business is big or small, hiring an accountant to manage your finances will ultimately help you in achieving targeted goals.

What CPA do?

A CPA may provide its client with numerous services but there are two main tasks that an accountant without a CPA license cannot perform:

1. A CPA organizes audited or reviewed financial statements and file a report with the Securities and Exchange Commission.
2. Represent clients in front of the IRS.

CPA Firm Services 

Certified Public Accountants at CPA firms basically help in the below-mentioned areas of business:

• Tax services
Under these services, CPA is supposed to prepare and file federal, state, and local tax returns and work with companies and individuals during the year to minimize their tax charges. A CPA firm can represent their clients in case of an Internal Revenue Service (IRS) audit or investigation by loc and state tax agencies.

• Audit & assurance services
These services are independent professional services that improve the quality and transparency of both financial and nonfinancial information for the business holder. Auditing is a kind of assurance service and intended to provide accurate and correct financial information. CPAs under these services will provide both internal and external credence for financial statements and make sure that an organization is on the right track.

• Management services
Under these services, CPAs will be responsible for managing the routine activities of an organization or individual and also provide well planned and long term planning. Such services may include cash management, budgeting, and financial planning, preparation of financial statements; investment planning; and estate planning, etc.

Additional Services a CPA may provide

CPAs may also help people resolve some other issues involving money like:
• Bankruptcy and insolvency reorganizations
• Civil cases
• Divorce settlements
• Scam Investigations
• Professional liability allegations

 Every business owner needs CPAs to assure the long-term success and sustainability of the business. A CPA will provide his expertise to your business, helping you as an advisor as well as an accountant. Hiring a  good certified public accountant not only keep your finances on track but may also save your time and you can focus on other areas of your business.

Healthcare Vendors And Suppliers

As a Healthcare Vendor & Supplier, you’ve taken the time to visit us because you have lost revenue tied up in unpaid receivables, you need help recapturing that revenue, and you need to know exactly what differentiates CedMar from the more than 2000 traditional medical debt collection and recovery firms available to you domestically.

Our success is driven not only by our understanding of the order-to-cash cycles of our Healthcare Vendor & Supplier clients but from also understanding their clients and the business environment in which they oftentimes struggle to operate.

For the most part, hospitals, surgery centers, and medical practice groups are not managed efficiently and as a consequence, your invoices are not a priority for payment.

AP Managers for these companies have become experts at playing the game of extending their vendors to the unfortunate point that far too many Healthcare Vendors & Suppliers have come to expect & accept the low expectation of receiving payment well beyond agreed to terms! Armed with this knowledge and medical bill collection experience, our efforts reverse this situation by compelling your delinquent clients to place your invoices at the forefront of the payment process without damaging the relationship and our client’s ability to maintain market share!

Reasons why you need Accounting Services?

Strong financial management is key to run a business. It’s a sort of organization that specializes in accounting services to provide assistance to its clients. It may offer its clients services such as audit, accountancy, tax, advisory and legal services. Anyone who’s is running or planning to run a business, will be requiring an accounting firm at a later stage. So, it will be helpful to know about it before you need it.
So, basically, the accounting firms provide multiple services to help businessmen in different areas of business including business development, tax planning, management consulting, among others. The services provided by such firms can vary firm to firm so before picking any firm it’s important to interview the different firms to determine the best one which suits your business requirements the best.
Such firms provide several services to handle financial tasks and we’ve listed down below some of the most offered services by accounting firms:

• Bookkeeping Services
• Accounting & Auditing Services
• Tax Preparation Services
• Business Development and Valuation
• Outsourced CFO Advisory Services


Let’s start with:

Bookkeeping Service

Bookkeeping is considered one of the most basic services provided by accounting firms. They prepare the record of financial transactions like purchases, sales, receipts, and payments of a company. Moreover, bookkeepers also create profit and loss statements that affect the key areas of costs and revenue streams.

Accounting & Auditing Services

Under these accounting firm services, the firm will prepare financial records, track expenses & revenues, and provide consulting to your business. It can also assist you with long term planning, like purchasing property or enhancing your infrastructure. Accounting and auditing services can help a businessman in future decision making.

Tax Preparation Services

Paying tax is required for almost all types of businesses. Preparing tax returns can be one of the most complicated things for business owners. So, availing tax preparation services by accounting firms would be the best option to go for. They will provide you the accurate calculation of tax you should pay.

Business Development & Valuation

Business development and valuation are one of the best services offered by a firm. It determines the worth of a business and how decisions affect that worth. It plays an important role when a business owner needs a loan or funding from a private investor. Accounting firms may also assist emerging businesses with pro forma financial statements, certain assumptions, and projections. Pro forma financial statements help a business owner in making investment choices to avoid dangerous transactions. 

Outsourced CFO Advisory Services

These services can also play a vital role to run a successful business that is provided by well experienced chief financial officers on a project or part-time basis. These services include plans to maximize profitability, financial maintenance, prepare for growth, or assist a transaction, etc.

Some of the business owners would prefer to hire their personal employees to take care of everything regarding their businesses but hiring an accounting firm can be the best option to avoid any critical situation.

CedMar Consulting

Most traditional third party collection agencies recover 8-14% of accounts receivable on a monthly basis.  In fact, 14% is considered outstanding. That is precisely what sets CedMar Consulting apart from the traditional third-party collection agencies.

Our process increases our client’s 3rd party collections results by 40% or more on a consistent basis. That’s 2-3 times higher than the industry average.

We serve Healthcare Suppliers, Business Service Providers, and Business-to-Business companies, and we specialize in providing Technology Vendors a unique and progressive approach to 3rd party collections.

Our technology-centric competency maximizes our ability to recapture lost revenue for technology vendors in a way no other collection agency can. We understand the life cycle of delivering technology & the related nuances inherent to deploying various types of technology, which is helpful when it comes to collecting delinquent receivables tied to fees for:

By leveraging our understanding of the deployment of various technologies and the order-to-cash cycles in a number of various industries, we are able to successfully combat delinquencies/disputes, and significantly increase the recovery rate for our clients

x