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Need a CPA for Your Business? Try These Five Tips
By Nanette Lee Miller
Principal, Stonefield Josephson, Inc.
Selecting the right certified public accountant is a lot like choosing a family doctor. You want someone who will not only help guide the growth and health of your business but someone who is empathetic to you as an owner. If you are in the process of selecting a CPA for your business, consider these five tips.
Tip #1: Get a referral from a professional. Bankers and attorneys deal extensively with CPAs. Ask your attorney or banker for suggestions. Check with other business owners as well. If an owner appears to have a crackerjack operation, there may be a good CPA assisting the management. Ask the owner about his or her CPA. If the feedback is positive, ask for a referral. You can also contact your state CPA association for referrals to members in good standing. Find your state CPA association at www.aicpa.org/states/index.htm.
Tip #2: Find a CPA who is supported by the “right” accounting firm. The CPA’s accounting firm should have a wide range of resources to support your business as it grows. Consider the size of the firm. Some owners feel lost when dealing with very large professional service firms. However, if you choose an accounting firm that is too small, the CPA may have limited resources. You want a firm that offers many areas of expertise. Look for depth of experience in your industry, as well as in services such as tax, assurance, business consulting, mergers and acquisitions, executive compensation, international business, succession planning and the like. These are the types of services you will need over time. Check on the firm’s reputation with your banker, lawyer and other valued professionals.
Tip #3: Look for someone who “gets it.” Just as in finding a good doctor, you are looking for someone who is in tune with you as a person. You want someone who is empathetic–someone who offers advice, insights and options in a way that is comfortable. An owner must constantly make decisions. You can’t think at your best if you are confused or intimidated by your advisors. Finding a good communicator is a must. Does the CPA understand what you are trying to accomplish? Can the CPA explain difficult technical issues? Getting the right kind of help at the right time is crucial. Look for someone who is accessible–a CPA who returns calls timely and is email responsive.
Tip #4: Watch for a CPA who is well connected. No one person has all the answers and can meet your every need, and your CPA is no exception. You can save time and money when you bring in the right experts to solve problems quickly and efficiently. CPAs deal with experts in a variety of fields. A CPA can draw from experts within the accounting firm or from outside firms as needs arise. Your CPA can introduce you to lending sources, insurance agents, marketing experts, industry leaders and others who can help you solve problems and take advantage of opportunities. The CPA will act as a coach, bringing in and overseeing experts who contribute to an overall business plan.
Tip #5: Find a knowledge-leader. The CPA provides value by sharing knowledge that you can put into action. You want a CPA with ideas for improving your business performance. You want a good thinker and problem-solver–someone to call when you need an experienced and impartial advisor. Top CPAs are active in professional organizations and in their communities. Watch for a CPA who speaks or publishes regularly. The CPA should also be involved in the fabric of the community. Search the CPA’s website, brochures and other communications venues for helpful information. Knowledge leaders are anxious to share what they know with clients and other professionals.
This is an important decision, so interview several CPAs. Ask your management team for feedback on the most promising candidates. Once you find your CPA, treat him or her as you would a member of your management team. Include your CPA at key meetings and events. Get feedback and ideas when faced with challenges or new opportunities. The bottom line: You are looking for a CPA who is willing to invest in a relationship, not a transaction.
For more information about selecting a CPA for your business, contact Nanette Lee Miller at 415-981-9400 or nmiller@sjaccounting.com.
Stonefield Josephson Inc. (www.sjaccounting.com) is a California-based certified public accounting firm founded in 1975. The full-service firm serves public and privately held clients throughout the United States and internationally from these locations: Los Angeles, Orange County, San Francisco, East Bay, Silicon Valley and Hong Kong.
Bio & Past Articles
Past Articles
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Business Matters ... By Nanette Miller
Nanette Lee Miller
Nanette
Miller, officer and shareholder, Stonefield Josephson, Inc., provides business consulting, tax
consulting and compliance, and assurance/accounting services to
publicly and privately held businesses. Her client base includes
manufacturing, distribution, retail and professional services in
diverse industries, including finance, health care, technology and
not-for-profit.
Active in a variety of professional and civic associations, Nanette is a member of the American Institute of Certified Public Accountants, the California Society of Certified Public Accountants and the Healthcare Financial Management Association. Leadership roles she has held as a volunteer for non-profit groups include Bay Area Career Women, Vice President/Treasurer, Board of Directors; Catholic Charities/CYO of San Francisco, Board Member and Finance Committee Member; Golden Gate Business Association, Past President; Most Holy Redeember AIDS Support Group, President; and United States Power Squadrons Past District Commander. Among her published articles are "Growing Your Practice-Build or Buy, Accounting and Financial Planning for Law Firms; "IPO vs. Meger," Inc. Magazine (May 2001); "Time Management in a CPA Firm," Accounting Micro Times; and "Changing Accounting Gray to Black and White," Business Journal (Janaury 2003).
Nanette holds a Bachelor of Science in Business Administration and Accounting from San Francisco State University; and a Master of Science, Taxation, Golden Gate University. Additionally, she is a a fan of the opera and a gourmet cook and food affectionato.
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