Business accounting services record, analyze, and interpret financial information for your organization. It's more than just entering and reconciling financial data. The value of these services is in the interpretation and recommendations that will help you truly understand your financial picture.
Your business might have a CFO and small accounting staff already and you're wondering why you would need an outside accounting firm. The reason is simple. Gaining an objective outside perspective with industry-specific expertise is invaluable. Your staff is trained to perform their duties but they may not have the experience or time to analyze the information. As an owner, you have a full plate of tasks to run all the business aspects. Diving into the financials requires in-depth analysis and every business can benefit from an outside perspective.
Your financial statements are the basis for determining your future goals. Analyzing that data and benchmarking your company information to your industry peers will prove to be a valuable part of understanding the financial strength of your company. The benefit of these services is in the ability to use the data to create achievable goals. Using the services below ensures your data is an accurate representation of your company's financial health and will guide decisions for adjustments where needed. Start with the baseline and use that information to make critical decisions in the future.
Here are some areas where a trusted advisor can be beneficial:
Business professionals need easy access to information to make timely decisions. SVA has what you need, when you need it. Choose a topic below or just contact us directly. Our expertise is ready anytime you need it.
As your business grows, there is a point when you should review your processes by looking at ways to generate efficiencies and streamline workflows. Over time it is easy to become comfortable with functions, leading to stagnant procedures and disconnected data. SVA will perform an analysis that documents your internal accounting procedures and identify efficiencies and process improvements. This review includes an analysis of software, staffing, and processes. After an extensive review, we will outline efficiencies and opportunities and work with you to determine the next steps.
The financial statement is a detailed and organized report about your company's financial activities and overall position. Proper design and preparation of the financial statement are essential. We can help design, review, and analyze your financial statement so it is a meaningful and timely tool to guide your decisions. Part of the analysis process is a comparison of actuals to goals and previous years, and benchmarking to your peers. Understanding and reviewing your financial position provides the framework to plan for seasonality or uncertain revenue fluctuations.
A cash flow analysis records how money flows into and out of your business and helps you understand how much cash is available at any given time. Cash flow is an indicator of the financial health of your company. Having a lot of money on hand isn't an accurate indicator of profitability, just as having a lot of debt doesn't mean the business isn't financially healthy. Using a cash flow analysis, we can help you create monthly, quarterly, and yearly financial forecasts to guide your business decisions.
Analyzing revenue sources to determine which are thriving and which need attention is a critical step in your profitability review. Minimally, data should be segmented by product line, service line, customer, location and department. Reviewing that data on a timely basis gives you the ability to react quicker and make changes that will affect your businesses financial position. Do you know the break-even point on your services? Whether it is monthly, quarterly, yearly, or even on an as-needed basis, every business can benefit from an outside perspective.
Handling all your payroll, tax preparation, and bookkeeping needs in-house requires staff who are experienced in these functions, as well as the continual updating of your accounting software. These are time-consuming tasks that can be easily outsourced to an experienced provider. You can outsource as much or as little of the work and ensure adequate internal controls to avoid any risk of having the same people perform multiple duties.
Learn more about SVA's outsourced accounting services.
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