Every business, doesn’t matter how small, requires the financial and the tax advisor. However, your business needs the Certified Public Accountant, not only the accountant.
CPA and Accountant
Accountant is the general term, which refers to the financial & tax professionals that follow some specific rules that includes GAAP that are rules & standards set by Financial Accounting Board. The CPA services Hong Kong are accountants that have passed the licensing examination in state. Thus, you can say that all the CPAs are accountants, and not all the accountants are actually CPAs. Lots of small businesses make use of the accountant services, and there’re a lot of competent accountants serving the small companies. For the small business, accountant will fill some accounting needs; however there are the specific circumstances where using services of the CPA has benefits.
Licensure
The CPA is actually licensed by the state and should keep current with the tax laws to maintain the license in a state. The accountants are not licensed. CPA exam is the rigorous process of many days, which includes many facets of the financial and the tax expertise. When they’re licensed, CPAs should comply with the continuing education needs to maintain the licenses; and accountants do not have such requirement. You can learn about the standards of deregistration services Hong Kong should follow by checking CPA professional organization.
In HK, there is the general perception in market that deregistration of a company is quicker, simpler, and less expensive while disposing the private limited company.