What is a public accounting?

There was a time back then when people thought of accountants as a middle-aged man with a pocket calculator and protector. But, the role of the public accountants has transformed into an exciting and profitable career choice for many people. Public accounting involves being an independent third party that inspects the financial statements and supporting systems of the client companies to see whether their financial statements are fairly presented or not. They make sure that no fraud has been committed to presenting the financial positions and cash flow of the clients. Public accountants can also be called firms of accountants who provide services to businesses such as retailers, manufacturers, services companies, individuals, non-profit organizations etc. The services that public accountants offer vary with the expertise and the size of the firm.

Some of the services of public accountants are discussed below:

• Tax work which includes estate and tax planning and the preparation of income tax returns.
• Advisory and consulting services which involve mergers, acquisitions accounting services, and other services
• Preparation, auditing, and review of the client’s financial statements.

If you want to find the best accountancy firms London then you need to make sure that they are certified public accountants or CPAs. There are many public accountants who join a single business after several years of experience in large accounting firms. They are then known as private accountants, internal accountants or corporate accountants. Public accounting firms increase in size with thousands of local small firms to a few large international firms which have employed thousands of employees throughout the world.

Some of the characteristics of best public accountants in London are as follows:

• Training: A public accountant is well-trained who has good analytical skills about the accounting systems and collecting evidence and testing if the statements are correct or not. He also has a sound knowledge of the standards of accounting framework which are them implied to the financial statements of clients.
• Experience: Public accountants usually have experience in a wide range of companies depending on the variety of clients.
• Certifications: A public accountant holds a certified degree which is usually CPA (Certified Public Accountant).
• Career path: The career path of a public accountant is very bright as he moves up to the position of auditor and auditor manager and at the end of the day becomes an audit partner. An audit partner is usually responsible for managing the audit relations and brings in new business.
• Work Environment: The work environment of the public accountants is usually had to put up with as it involves a lot of traveling, long hours and sometimes spotty working conditions with tight deadlines.
• Social Skills: Public accountant has excellent communication skills as they need to interview clients about their systems and also humbly discuss the failures of their system as it involves criticizing the clients work.
• Job satisfaction needs to pass judgment on the work of other accountants which might not be fulfilling at times.

Some of the ways to find the best accountants in the UK are as follows:

1. Get referrals: when someone refers a public accountant then there is a chance that there is more chance that the accountant will do his job more professionally and effectively as he will know he has to keep is clients. Professional associations also refer public accountants to the firms.
2. Determine your business needs: Before hiring a public accountant you need to know that why do you need an accountant? Do you just need an accountant to handle your books and keep a track of your tax returns or wants someone who can also provide you advisory services when your business grows? Many people prefer to discuss their business situations to their accountants before going to lawyers because they can help them with lease agreements and franchise agreements.
3. Get licensed candidates: It is very important to hire a public accountant who has qualified degree and have a sense of nuances of accounting and its requirements.
4. Talk about technology: Nowadays accounting spreadsheets and other accounting paperwork are giving way to digital filing and computers. It is vital for the accountant to have a sound knowledge of computer and also that the accounting firm has a website and use social websites such as Twitter or Facebook.