Investing In Real Estate: The Role Of An Accountant

When you invest in real estate, a properly qualified binance accounts buy should be a key member of your investment strategy team. The accountant’s primary task will be to keep track of the financial status of your investment, to minimize your financial risk, and to reduce the tax burden associated with your project. Their expertise covers all phases of your investment from its inception to completion. An accountant will be able to provide you with a range of services which typically include:

Accounting designations in Canada

In Canada, qualified professional accountants belong to any of these three categories: Chartered Accountants (CA); Certified General Accountants (CGA) and Certified Management Accountants (CMA). [Note: the “Certified Management Accountant” designation has replaced the “Registered Industrial

Accountant” designation formerly used in many provinces.] Each of these designations has its own professional organisation, known as: the Institute of Chartered Accountants, the Certified General Accountants’ Association, and the Society of Management Accountants.

Provincial statutes govern the use of these designations and the practice of the accountants who claim the titles. In addition, the professional organisation for each designation regulates the conduct, standards of practice, training and qualifications, continuing education, and code of discipline of their members.

The designations above immediately indicate differences in the nature of their training and professional practice, training, and educational qualifications. Some accountants go into broad public practice, others prefer employment in industry, the academe, or government, and there are those who become specialists in particular fields such as tax accounting, management accounting, finance, and so on.

For your own protection, deal only with an accountant who has the professional background and credentials that fit the demands of your real estate investments. Contact the professional governing body for the particular accounting designation if you need further information.

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