Business Services

We help you with these key issues –

• Keeping it in the family. Are you going to pass the business on to your family or sell it to a third party? We help you weigh the advantages and disadvantages of each of these options.
• Who’s going to run the business when you’re gone? Management and ownership are not one and the same. You may decide to transfer management of your business to just one of your children but transfer equal shares of business ownership to all your children, whether they’re actively involved in the business or not.
• Minimizing the tax bite. The tax burden when transitioning a family business can be significant. The challenge is that a family business is not generally a liquid asset, but taxes are typically due when ownership is transferred.
• Making it fair. Transferring family ownership often adds a tremendous amount of stress to individual family members. We talk with each of the family members to ensure that they feel they a getting an equitable and fair share of the pie.

Part Time CFO

Growing businesses often reach a point where they need professional financial advice but can’t afford a full-time CFO or controller. If you’re fortunate enough to be in this position, then we have the perfect solution for you. We will assist in outsourcing this integral service to give you a professional financial manager who works with you to help guide your business to success. We will be help to evaluate, place, and support the hired contractor.

Here’s what you get with a Part-Time CFO services…

• • A professional who establishes strong financial controls in your business to increase profits.
  • A readily available sounding board to help you with those tough business decisions and help you clarify your business plans.
  • Analysis of equipment purchases, expansions, etc.
  • Assistance in defining long-range plans and the quantification of goals.

Assistance in obtaining financing from banks, including assistance with negotiations.

• Better understanding of the financial side of your business. So you have less surprises and more control over the money.
• Budget preparation and monitoring.
• Cash management.
• Custom designed collection policies and procedures.
• Development of company accounting procedure manuals.
• Improved decision-making capabilities from clearly seeing the hard and true numbers of your business.
• Improved quality and timeliness of financial information.
• Liaison with bankers, attorneys, vendors, insurance agents, etc.
• Mergers and acquisitions assistance.
• More time to focus on new services, new customers, and other core business issues.
• Tax saving strategies.
• The comfort from knowing that a professional is overseeing, protecting and constantly improving the financial side of your business.
• Training and managing your accounting staff.
• Trend analysis.

Internal Controls

At times you may need a trained outside professional to evaluate your company’s operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.

What we do for you…

• Implement segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
• Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
• Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
• Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.
• Provide employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.
• Document policies and procedures and making them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.
• Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.

A Strategic Plan is often needed when…

• Starting a new venture, product or service
• Expanding a current organization, product or service
• Buying a new business, product or service
• Turning around a declining business

The Strategic Plan provides a blueprint, describing your company, its products, the competitive environment, management team, financial health, and business risks.

The plan allows you to…