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. Overtime it is easy to become comfortable with processes, which can lead to stagnant procedures and disconnected data. Part of our process is to evaluate staff skills and make recommendations to align staff strengths with business needs. We can provide insightful recommendations specifically for your business.
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.
The volatility of pricing in the restaurant and hospitality industry makes it vital for business owners to monitor key ratios and compare them to industry standards. Your ratios become the scorecard for your business. This eGuide showcases ratios calculations and how those ratios can be used to measure performance.
Do you need help with your monthly closing checklist? Check out our 6 quick tips to help you manage your procedures and review this list to see how yours compares.
In this eGuide, our SVA team will share their experiences helping business owners analyze their needs and provide insightful recommendations so you can spend less time on your accounting processes.
Visit SVA’s Web Tax Guide to access a wide array of resources that can help prepare you and your business for the upcoming tax season.