Public accounting refers to a type of accounting firm in which the accountants provide services directly to businesses and individuals. These accountants often consult with small business owners and help them manage their taxes and finances. They prepare financial statements, audit financial statements, and advise clients on matters pertaining to finance, accounting, and taxes.
When most people think of tax preparation, what comes to mind is filing a 1040 before the middle of April. However, there is much more to it than that. There is no reason every individual should not have their own tax strategy customized to fit their specific needs. A reduction in taxes can benefit individuals with retirement income, gifts received, estates and more. Franklin P. Sparkman specializes in maximizing tax deductions for individuals and their families.
Accounting is one of the key functions for almost any business. It may be handled by a bookkeeper or an accountant at a small firm, or by sizable finance departments with dozens of employees at larger companies. The reports generated by various streams of accounting, such as cost accounting and managerial accounting, are invaluable in helping management make informed business decisions.