A recent survey showed that many accountants may be able to expand their services to small business clients by including financial planning and forecasting service.  Although traditional accounting services (bookkeeping and tax preparation) involve managing the same data that drives active planning and performance management, only one in three accountants offer financial planning or forecasting services as part of their clients’ business planning process.  Accountants that do undertake such expansion can create deeper relationship with clients, and craft more significant roles for themselves as business advisers.

See Ken Tysiac, “CPAs have opportunities in financial planning and forecasting,” Journal of Accountancy (Aug. 20, 2014).

Posted by Morgan Yuan, Esq., Associate Editor, Wealth Strategies Journal.