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Services > Accounting & Auditing > |
Questions To Ask Your CPA About Accounting And Auditing
- Which indicators of my company’s financial performance should I be tracking weekly, monthly, annually? Should I calculate these key indicators, or should I ask my CPA to do it?
- How do my financial ratios and percentages compare with the averages for my industry?
- When do I need to set up an internal audit function?
- As a privately held business, when and why would I need an audit?
- How much is my business worth? Can you help me with a professional valuation?
- What can I do to maximize the interest income from my business bank accounts?
- What are five good ways to reduce my company’s operating costs?
- Should my business be on the accrual or cash basis of accounting? Why?
- Should I use the FIFO or LIFO method of inventory accounting? What are the relative merits and drawbacks of each?
- How can I speed up the collection of receivables? Should I offer extra discounts for prompt payments?
- When should I write off a receivable as a bad debt? Is it worth taking the customer to court?
- When paying my company’s bills, should I take advantage of early payment discounts or pay late and use the float?
- What kind of background should a controller have? Can you suggest guidelines for hiring the right person? Can you help me to identify appropriate candidates?
- What forms of stock options make the most sense for myself and my employees? What is the difference between "qualified" and "non-qualified" stock options?
- What is an "Employee Stock Ownership Plan (ESOP)"? How can I use it as a motivational tool and turn some of my "sweat equity" (as the company’s owner) into cash?
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