Business Advisory Services

OUR BUSINESS IS HELPING OUR CLIENTS ANSWER THOSE BUSINESS NEEDS TO MAINTAIN AND IMPROVE THEIR SUCCESS


The owner of a business usually has the technical skills of the business of which they own; but In order for a business to be successful, the owner must have the knowledge of all the business skills for which he/she is responsible. 

WITH ALL OF THIS RESPONSIBILITY.....YOU DESERVE A REASONABLE PROFIT FROM YOUR BUSINESS. 

 

 


  

BUSINESS ORGANIZATION

There is no best structure for all businesses--each structure has its strong and weak points.  Determining your best type of organization through trial and error can mean undo amounts of 'red tape'...and hefty legal and accounting fees for doing, undoing and redoing.

The form of your business can make a big difference in the  profitability.

Establishing the proper business structure is an essential decision; and we can help you, through our knowledge and understanding of the financial and tax implications of this decision.

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FINANCE

In order to control your business, it is imperative that you have accurate records prepared on a timely basis, and something to compare them to. 

Your records should help you identify "where your business has been and where you are, so that you can make sound decisions about where to go next".

As well, other users-banks, suppliers, employees, government need or require information about your business. 

Make sure your financial statements can answer yours and others questions about your business, such as:

  • Is the business profitable?
  • Where did the money go?
  • Which customers warrant the most attention?
  • Which supplier gave the best discount?
  • How effective was the last sales promotion?
  • How does this period's results compare with previous ones?
  • Is there enough money to pay the bills?
  • How does the business compare with my competition?

Planning is required if you wish your business to grow, at your desired pace.  Measurement of the results of your business activities is necessary so that you, the owner, can know how your business will pay for that growth!

We can provide information for your business showing comparisons with your established goal, prior year results, and even with industry comparisons.

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MONEY MANAGEMENT

All successful business managers must know how to manage money.   Just what knowledge is necessary?

  • Prepare budgets and plans to control daily activities.
  • Be realistic about prospects.
  • Know where the business is financially at all times.
  • Know where expenditures go.
  • Evaluate all major decisions and their consequences.
  • Be constantly aware of the earning power of cash.
  • Plan for those times when you will need to borrow funds.

Having the proper information is one of the best tools to manage your business effectively. Setting the proper procedures and policies in place provides you, the business owner, with accurate information to manage the business.  We offer services to provide the information to your and we work with you to utilize the information to control your business.

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PURCHASING

Buying inventory isn't and end in itself, but an activity that affects almost every other function of a business.

One of the key skills required is the ability to build and maintain a "profitable" inventory. 

Determining the right amount of inventory is just as important as determining the kinds of inventory in making the business' inventory profitable.

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EMPLOYEES

Finding , training and motivating the perfect employee is one of the hardest areas for most business owners because it involves the most erratic and valuable resource that a business has--people.

One of the keys to success is to learn to accomplish tasks through the efforts of others.  Successful business owners know exactly what type of employee is needed to make the procedures and processes effective, and thus make a business more profitable.

Determining your proper staffing needs and finding the "right" employees is the key to successful personnel management--answering these questions requires the knowledge and experience to measure the exact needs of the business and having some means to evaluate the efforts of the employees once hired. 

In conjunction with, and through our affiliations with Human Resource professionals; we can help you determine your employment needs, provide the mechanisms to retain those valuable resources and insure that you fulfill your legal responsibilities to your employees.

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ASSET PROTECTION

Knowledge of your needs and rights concerning insurance, suppliers, customers and employees is important for your business to continue its success.   Our understanding of these important issues of your business, and our affiliation with other professionals can help you protect your most valuable assets--your business.

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COLLECTION

Unless you are extremely fortunate and can operate on a "strictly" cash basis, you will most likely have bad debts.   It's vital that you defend yourself against customers who are slow to pay or don't pay, at all.

As you consider the extension of credit to your customers.

  • Make sure you know all the costs associated with this activity.
  • Evaluate those requesting credit--Use the three "C's"
  • Review their information before granting credit.
  • Understand the type of information needed and how to ask for it.
  • Evaluate your customers--watch for the early warning signs of potential problems.
  • Know your rights when granting or denying credit.

We can help you to establish business policies necessary to insure the success of your business.

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OFFICE MANAGEMENT

Knowledge of the costs of doing business and finding ways to keep those costs down can increase your profits significantly.

  • Are costs soaring and profits being "eaten up".
  • Should prices be raised?
  • What expenses should be reduced?
  • What is the "least common denominator" of a specific cost?
  • Are there alternatives to a specific cost?
  • Should you, and how do you, evaluate alternatives before buying?

Our services can help you to evaluate your current financial position and find ways to extend your profits . 

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TAX REGULATION

The objective of a business is to be profitable.  Being profitable means that taxes will be paid.  Your real work is how to reduce your tax burden.

  • Have you shared your ideas with your tax consultant?
  • Have you asked a simple question of your tax consultant? "What other choices are there?"
  • Have you had an annual business checkup before your tax year-end?
  • Are you ready should you be selected for an audit?

Our tax services are not just the preparation of a tax return.   We continually, throughout the year, look for, meet and discuss with our clients, present ideas on tax issues, and evaluate ways to reduce the tax burden and improve the profitability of their business.

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                                          Copyright   1987 - 2010 A. Harold Davis, CPA

 

 

 

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