> Accounting
term that refers to the overall process of tracking your business's income and expenses, and then using these numbers in various calculations and formulas to answer specific questions about the financial and tax status of the business.
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While most people regard accounting as boring and tedious work, it's arguably the most important part of running a business. Minnesota accountants keep track of what money is coming in and what money is going out. But if your company gets stuck with a disgruntled or corrupt employee, you can find that the business could be owing money to the government and that it's in worse financial shape than it is on paper. With the help of an accounting professional in Minnesota, you could straighten everything out quickly.
[2] Excludes excise taxes collected,[3] Includes tax-exempt organization,[4] Collections of tax (withheld and not withheld) [5] Includes estimated tax. [Money amounts are in thousands of dollars] in Minnesota
Total Internal Revenue collections [2]
55,241,242
Corporation income tax [3]
5,962,704
Total [4,5]
47,429,672
Income tax not withheld and SECA tax [4,5]
6,773,781
Induvidual income emploment taxes withheld and FICA tax [4]
40,404,320
Source: Internal Revenue Gross Collections, by State, Fiscal Year 2001
Accountants are responsible for a wide variety of duties. They make sure that a company is run efficiently, that records are kept accurately and that taxes are paid on time. Generally, accountants will prepare, analyze and verify financial documents.
There are four types of Minnesota accountants:
Public Accountants
Management Accountants
Government Accountants
Internal Accountants
Each accountant specializes in one particular field to provide specialized services for a company or for private clients. Their expertise is especially important at large public companies who are forced to disclose their financial status to investors or the Securities and Exchange Commission. But if the government discovers discrepancies in a company's financial records, the company and its executives could be in some big trouble: They could face hefty fines and jail time.
Our Minnesota Accountants can guide you through many circumstances arising from starting your own business and also assist you with all of your tax questions.
Some typical issues Minnesota Accountants may help you with include:
Auditing
General Accounting
Business Matters
Financial Planning
Mergers and Acquisitions
Contact our Minnesota Accountants
If you live in the following cities and need an accountant, you should contact our Minnesota Accountants as soon as possible:
Andover
Anoka
Austin
Bemidji
Brainerd
Burnsville
Circle Pines
Cottage Grove
Eden Prairie
Elk River
Faribault
Hastings
Lakeville
Mankato
Minneapolis
Moorhead
Osseo
Owatonna
Rochester
Saint Cloud
Saint Paul
Stillwater
Winona
Did You Know?
Accountants work in different areas of practice.
Some accountants prefer to work alone, but in general they usually work for public accounting firms, the government or corporations.
Minnesota Audio & Video
Accounting Standards
Audio, RM, 32 Kbps, 3:30, 1/16/2002
Bob Edwards talks with Chuck Landes, Director of Audit and Attest Standards at the American Institute of Certified Public Accountants. Source: National Public Radio
Minnesota External Sites
Biography of Rep. Collin Peterson -- Minnesota's Se
JCI (Junior Chamber of Commerce) Senator – Elected 1975. Business Experience. Certified Public Accountant (CPA), Detroit Lakes, Minnesota, 1968 – 199 RUS PASD Minnesota Page
Rural Utilities Service Program Accounting Services Division. Minnesota Field Accountant Information. Mr. Michael J. Mueller 318 Peifer Drive ...
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Latest News
Latest accountant news in Minnesota and nationwide:
Jan 15, 2007 - Accounting Periods When Preparing A Statement Of Income
When preparing a statement of income and expenses (generally your income tax return), you must use your books and records ... Read more >
Jul 14, 2006 - Lt. Governor Denish To Swear In New Accountants
Albuquerque—The Regulation and Licensing Department’s Public Accountancy Board membersand special guest Lt. Governor ... Read more >
Legal Disclaimers The information provided on Accountants Minnesota.com is not intended to be accounting advice, but merely conveys
general information related to accounting issues commonly encountered.
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Corporate Accounting 
US Possessions tax credit, regardless of
Did You Know?
Biography of Rep. Collin Peterson -- Minnesota's Se