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Small Businesses Not Using Accountants Complete Skills

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A majority of small businesses that use outside accountants are engaging them only for specific services and support, according to the web-based survey of 472 small businesses. The business owners who use outside accountants rely on them most for accounting services (76%), bookkeeping services (49%) and tax support (46% personal; 43% business tax compliance; and 43% corporate tax).

A minority of small businesses that reported using outside accountants rely on them for financial planning (33%), business consulting (25%) and wealth management (15%).

The survey shows that accountants can continue to develop their relationships with small business clients to achieve full utilization of their skills. Expanding the role of CPAs as trusted business advisers is a prominent focus of the profession and was one of 10 core objectives highlighted in the AICPA’s Horizons 2025 report, a road map for the profession that was issued last year. Source: http://journalofaccountancy.com/news/2012/apr/20125605.html

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