Why nonprofits and realtors need an Ashburn, VA CPA
April 26, 2022at5:00 AM
Accounting, auditing, and financial strategizing are detail-intensive duties. For Northern Virginia nonprofits and realtors, an Ashburn, VA CPA may be your best resource for handling them.
A certified public accountant (CPA) can work with a lot of different people and businesses in a variety of different ways. They’re obviously a resource of tremendous value when tax seasons rolls around, but their particular skill set also lends itself well to the needs ordinarily delegated to a specific position within your company. Working with a CPA may, in fact, allow you to do an even better job of meeting those needs.
While most organizations have a lot of financial details and concerns in common, certain industries and markets call for specialized skills or knowledge. In this blog post, we’ll take a look at what kinds of services an experienced CPA can offer nonprofits and real estate brokers.
What skills does a CPA have?
No matter who they’re working with, a CPA needs to have thorough general and industry-relevant knowledge, as well as a set of key skills to offer worthwhile, reliable services. Many of these skills are the result of years of education and testing, but knowing how best to put them into practice comes with many more years of on-the-job experience.
Some of what you should expect out of any CPA you work with includes:
Strong tax knowledge: Much of an accountant’s job revolves around helping people and businesses navigate local, federal, and industry-related tax regulations. This is a basic expectation any CPA should be able to meet.
Familiarity with software: The accounting needs of any organization naturally involve working with a variety of software applications. Some of these may be specific to your business, while others are more general solutions for bookkeeping and other duties.
Close attention to detail: Internal auditing is a primary responsibility of many CPAs working with an organization. Knowing what to look for in a company’s financial records is key to risk assessment, operational improvement, and more.
Sound judgement: A CPA working with your organization should be able to effectively advise your management when it comes to your finances. That means an ability to clearly, compellingly present information, as well as strong soft communication skills rooted in emotional awareness and empathy.
The skills of a CPA can be extremely helpful to a nonprofit working with potentially limited resources. You need to be able to get the most use out of those resources for the work you do and raise more funds when necessary to expand your operational capabilities. A CPA is well-equipped to help you do both and more.
Some of what a CPA can do for a non-profit includes:
Financial analysis: The knowledgeable, detail-oriented eye of a CPA is crucial when auditing internal systems, interpreting data, and preparing financial reports for organization management, creditors, tax authorities, and shareholders.
Advising management: Working with a CPA is a great way to essentially outsource the work of a CFO to someone with experience offering advice on financial reporting, growth, and budget management to other businesses like yours in your industry and market.