Role Helping Family Businesses Awaits Accountants that Take the CPA Exam

Long before stock markets and venture capital, aspiring entrepreneurs created businesses to attain personal profit from serving consumer demands. These family owned operations stood as testaments to an advancing standard of living. Although this phenomenon arose well before external audits and quarterly reports, family enterprises still recognized the value of accurate accounting work. Despite the lack of a CPA exam, skilled accountants were key members of every entrepreneur’s team.

Family businesses are still the largest group of commercial entities in the US economy. More importantly, they are achieving a larger scale than ever before. This only increases their need for accountants. Fortunately, locating elite accountants is now easier than a century ago by seeking those with CPA licenses.

Today, family businesses operate in both local and expanded markets. Many of them sell products globally. They employ more people than all companies with public stockholders. In addition, family enterprises generate a substantial amount of economic activity.

A growing family business is faced with the same challenges as a major corporation. This requires monitoring of costs and measurement of success from a new product, location, or group of customers. After passing the CPA exam, an accountant is prepared to embark on a career that helps family businesses innovate and thrive throughout generational transitions.

If you strive for this role, be sure to become a trusted source of advice to family businesses. Don’t price your services in a way that discourages contact. Provide brief phone conversations and email responses free of charge. Use these opportunities to communicate your value at delivering extra services for a contractually arranged fee. Soon, your CPA practice will advance beyond delivering financial reports and tax returns. You will help balance business strategy with family goals. For example, you will be at the forefront of devising fair procedural and control structures. Rendering effective decision-making advice to family enterprises demands that you follow the right career focus with the accounting skills you mastered to successfully complete the CPA exam.

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