Budgeting anticipated revenues and expenditures based on realistic expectations and restrictions and periodically monitoring actual performance versus budgeted performance and budget variations. We can assist in the budget process and prepare budget comparison reports.
Cash flow can be quite different from profits. Businesses run on cash, and cash needs must be determined in advance in order to assure sufficient working capital is in place to fund operations without interruption. We can help to analyze or monitor cash flow or prepare statements of cash flow.
Controller on Loan
Sometimes our clients find themselves in a situation where their Controller position is vacant due to a termination of employment or a temporary leave of absence and someone is needed to fill the position of Controller within the company until a replacement Controller is hired or until the Controller on leave of absence returns. In such cases, we can provide a part-time or full-time Controller fill-in for the period of time required until the position is again filled by our client. In addition, under such circumstances, we can provide transition training to the replacement Controller to allow for a smooth transition.
Forecasts & Projections
Prospective financial information can be helpful for determining new business lines, creating new business ventures, preparing budgets, obtaining financing or refinancing, and analyzing changes in operations, regulatory proceedings and many other areas of business operation. Prospective financial statements can take the form of forecasts or projections. Financial forecasts present the best estimate of future financial position, results of operations and cash flows. Financial projections present the future financial position, results of operations and cash flows expected to occur given one or more hypothetical assumptions, and are usually used to determine one or more hypothetical courses of action for evaluation. We have experience in preparation of such prospective financial statements based upon the assumptions provided by management.
Internal Use Financials
We can assist clients in the preparation internal use only financial statements when the statements are restricted for use only by owners and managers who understand the operations of the entity. These types of financial statements are cost-effective operational management tools and are not intended for the use of creditors or other non-management readers.
Payroll processing can be a time-consuming endeavor for small businesses that takes time away from management’s ability to generate sales and maximize profitability. It is fraught with rules and regulations that are easy to overlook and that may cause penalties to be incurred when attention is required for other management responsibilities. It is often more cost-effective to outsource the payroll functions of payroll computation, preparation, tax deposits and payroll tax return preparation. We assist many clients by providing these services for them. We assist other clients solely to prepare payroll tax returns when the client has the internal capacities to prepare the payroll and make the deposits, but not to prepare the payroll tax returns. In some situations, we assist clients in finding appropriate third party payroll preparers.
We are experienced in providing trust accountings to summarize and report periodic results of trust transactions as required for court.