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The Benefits of Accountant Woodland Hills California

Accountant Woodland hills California can greatly help the people who want to be certain in getting the right financial services. Please go to http://accountantwoodlandhills.com/ for more information.

JoelLewinsonCPA
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The Benefits of Accountant Woodland Hills California

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  1. ACCOUNTING FOR SMALL BUSINESS Joel Lewinson, Los Angeles Certified Public Accountant

  2. Joel Lewinson • As a Woodland Hills accountant, Joel Lewinson has often had clients seek out his professional guidance only when a small preventable mistake has already resulted in a big cost.  • Business accounting has its own set of challenges, • few challenges can be more devastating than errors and fraud • For any firm, cash is generally a concern • Slight errors can lead to poor financial decisions resulting in significant losses • Small but devastating errors are more common than one might imagine Avoid common accounting mistakes by educating yourself and hiring a CPA, like Los Angeles Certified Public Accountant, Joel Lewinson, to put preventative measures in place

  3. ACCOUNTING FOR SMALL BUSINESS • Accounting errors and financial fraud are fairly common in small companies • According to the Association of Certified Fraud Examiners (ACFE), • over 30% of all fraud takes place in small firms. • the median fraud loss at these firms was $150,000 • In most cases fraud is discovered by accident or outside tip • Majority of these businesses did not have preventative or monitoring measures in place

  4. ACCOUNTING FOR SMALL BUSINESS • Risk for fraud in large firms is low, but minor errors can be just as detrimental • A single unrecorded payment can result in hefty penalties for unpaid sales taxes • Such errors are common • Indiana University study • 60% of accounting errors are the result of simple bookkeeping mistakes or misunderstandings

  5. ACCOUNTING FOR SMALL BUSINESS • Many factors make small businesses vulnerable to fraud and accounting errors • Companies may have small bookkeeping staff, or the office manager may have to do double duty as the bookkeeper • When you have only one person taking care of your bookkeeping needs, and no one to double check the work, mistakes are easily made • With only one qualified person performing so many roles, it’s unlikely that a financial audit will ever be performed to catch the mistake before it becomes an issue • Hiring a dedicated CPA will alleviate accounting errors as well as worries about fraud within your small business or big business

  6. ACCOUNTING FOR SMALL BUSINESS • Although you, or someone at your firm, may be able to perform certain accounting activities, it’s safest to hire a dedicated CPA to provide business planning services. • Business accounting can get very complicated, especially if your company experiences sudden growth and you don’t want to jeopardize that growth with inadequate planning. • The cost to hire a trained accountant to consult with you will generally be covered many times over given the many costly mistakes you’ll avoid. If you’re looking for a Woodland Hills CPA, call the accounting office of Joel Lewinson at 818-593-6777, and he’d be happy to help you address these and other challenges your business may be facing.

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