A. Margaret, this is one of those age-old time vs. resources questions. Quickbooks is obviously the cheaper option, but it will cost you in time. Vice versa for the accountant, who will be more efficient for you, but cost more. You get the picture. So, I tend to sort this out with another metric -- by expertise and my needs. If your business is small enough that you don’t need special financial counsel (and you have a little time), go with the software and save the money for marketing or other critical spending. But I’ve found that the right financial partner can help guide me into better business decisions, acting as a de facto CFO. And sometimes they more than pay for themselves by steering you to better business strategy. One note: Regardless of whether you do it yourself, make sure you have a very firm handle on your company’s finances, especially cash flow. There is no more surefire way to cripple your business than losing track of money.

Q. I am thinking about starting a small business with another person. We would be providing experts on different subjects to our clients. I wanted to use the word 'consultants' in the title. Is it a good word to use these days or has it gone out of favor? *Something like "Adams Accounting Consultants" The "Accounting" part above is just an example - it's not an accounting business. Sorry for any confusion.

A. I have been self employed for 20 years, and this is my take. I would not visit you for service. Why- I would rather hire a CPA I can get the same info from a CPA and then CPA is also liable for the information he gives me. If I hire a CPA for my yearly information, I basically get information all year round. I don't think it is a good idea for small business, but for large businesses they like big words.

Q. Hi, everyone. I just graduated from college and am thinking of taking CPA exam in a year so I can become a CPA/accounting professional in the accounting industry. I looked at the Becker website and called the place but couldn't retrieve any information about the backgrounds or qualities of Becker instructors. Right now, I am leaning toward choosing Becker as my review course for CPA exam but I have to find out how good, competent the instructors are before signing off on the program. Is there anyone here who has taken Becker CPA Review Courses? What was ur impression of the instructors and their teaching skills? Thanks in advance for any insights.

A. The course can typically be taken in a class setting or you can order the CDs and take the course at home. However, even if you take the course in the class setting, they typically just play the CDs for the entire class. You should go with whatever you think will work better for you. Now that you can take the exam in separate sections, I think it would be easier to get the CDs and do it at your own pace. As for the competency of the instructors on the CD, they know what they are doing and as long as you do everything in the program, your going to pass.

Q. I already have my AABA and BA in Accounting and Finance and also am currently taking a self-paced correspondence course for bookkeeping. I want to know if I need to get my CPA before I decide to start a part-time bookkeeping service from my home. Would it be in my best interests to get it or is it something that I don't need to worry about? I would prefer answers from people in the same field or similar experience. No spam please. Thank you.

A. No, it's not required. However, there are quite a few people who won't do business with someone without a CPA. I'm an owner or part owner of several small businesses, and I do most of the bookkeeping inhouse. However, I had a CPA set up my basic business bookkeeping templates, and I have him do all my tax stuff, both personal and business.

Q. It is my understanding you have to be a CPA to own PC who prepares compilations & reviews. Can an enrolled agent buy into a CPA Firm?

A. It may vary from state to state but yes you can "buy" into a professional firm but you are still going to have to have someone there who is a licensed CPA to conduct business. I repair copiers at a local medical firm that has a full staff of doctors but is actually owned by a small group of investors who have no medical experience whatsoever.

Q. I just came to Dallas TX,USA .I have undergrade degree in Business Admission.Now i want to study accounting.So i am looking how can i go to CPA.Can anybody help me how to approach to it.

A. I hate to be anal about things, but the correct abbreviation for CPA is Certified Public Accountant... to find information on becoming one for your state board accountancy, do a google search of Texas CPA. Recommended materials in preparation of the exam is of course Becker CPA materials. Good luck!

Q. I´m from Brazil, and work as a accounting auditor in a International firm. I graduated in Business school and law school. I was wondering if I could take the CPA exam and how long foreing people usually take to prepare to this exam. Also would like to know if there are any universities that have preparation courses to CPA. Thanks.

A. Contac this Site : http://www.cpa-exam.org/

Q. A CPA failed to file a stock basis for a corporation for 13 years. Now the IRS wants their money back, which is understandable. Does the CPA have to cover their error?

A. The taxpayer is liable for everything but may be able to show that it exercised ordinary business care and prudence and should not be held liable for penalties. If the CPA is guilty of malpractice he or she could be sued and disciplined by the state accounting board.