Hello Everybody,
Sorry for being so quiet lately -- tax season hit me pretty hard.
In any case, I had a client today ask me for a bit of clarification on the difference between the different types of accountants out there. So here it goes...
Tax Accountant -- the one we are all familiar with. Tax accountants deal with year-end taxes & tax strategies that will help you reduce the taxes you owe when year-end comes around. They do not manage your financials through-out the year and it is a disastrous mistake to assume that they do.
Operational Accountant -- the lesser known field of accounting, but a vital one. These are the accountants who act as your Controllers & CFOs. Their area of expertise is managing your cash flow, profit margins, company risk, and forecasting your financials. They will work with your tax accountant, but do not file taxes themselves.
Bookkeepers -- While not technically accountants, bookkeepers perform a vital role in a company. They log and classify all your financials so Operational & Tax Accountants can help you with financial advice and planning. However, they cannot provide financial feedback, interpret financials, or anything of the sort.
Well, I hope this helps!
Sorry for being so quiet lately -- tax season hit me pretty hard.
In any case, I had a client today ask me for a bit of clarification on the difference between the different types of accountants out there. So here it goes...
Tax Accountant -- the one we are all familiar with. Tax accountants deal with year-end taxes & tax strategies that will help you reduce the taxes you owe when year-end comes around. They do not manage your financials through-out the year and it is a disastrous mistake to assume that they do.
Operational Accountant -- the lesser known field of accounting, but a vital one. These are the accountants who act as your Controllers & CFOs. Their area of expertise is managing your cash flow, profit margins, company risk, and forecasting your financials. They will work with your tax accountant, but do not file taxes themselves.
Bookkeepers -- While not technically accountants, bookkeepers perform a vital role in a company. They log and classify all your financials so Operational & Tax Accountants can help you with financial advice and planning. However, they cannot provide financial feedback, interpret financials, or anything of the sort.
Well, I hope this helps!
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