Management Accounting

While having knowledgeable and dependable bookkeeping is a business requirement, a management accountant will help you manage your business on a daily basis, using the data in your accounting system. Many of the answers to your business questions are inside the data - you just need an experienced professional to help you dissect the data and make sound business decisions.

Our Services

Prepare financial statements including a cash flow statement

In small business, cash is king. Can you grow yourself out of business? It happens more often than you might think. Solid preparation and analysis of your income statement, balance sheet, and cash flow statement are crucial to a growing business. While most businesses do create financial statements in order to prepare tax returns or when they talk to financial institutions, the real benefit financial statements can provide is helping you manage your business better.

Assist with strategic planning and forecasting

As you prepare to operate your business, tomorrow is more important than yesterday. We will help you evaluate the prospects for your business on both the sales and expenses side of the ledger. We will also help you determine your strengths and weaknesses as a company and as a management team. We will prepare cost models to evaluate where you make and lose money, which products are best, and which ones should be discontinued.

Develop a solid and well written business plan

Developing a detailed and useful business plan for even a simple business can be difficult and time consuming. However, it is a vital link to outside resources such as financing and it will be used many times as your business grows. As your part-time CFO, we can help you develop a realistic, simple and flexible business plan.

Develop Financial Models

We can help you develop financial models that will provide valuable information in managing your business. These can be very important as you present your business to others and evaluate future business scenarios with a " what-if " process.

Prepare Management Reports

Reports such as Budgets, Customer Analysis, Analysis of Major Expenses, Labor Breakdowns, Inventory Utilization reports, and receivable and payables analysis can bring potential problems to light well before they cause a major issue with profitability or cash flow.

Manage Accounts Receivable and Accounts Payable

Every business collects revenue and pays bills. But does your company do it efficiently? We can help you with this sometimes painstaking task.

Improve Computer Systems

Do you view computer systems as an expense or as a valuable tool in managing your business? Unfortunately, most businesses view it simply as an expense. We can help you improve your systems so they help manage your business and become a valuable part of your overall business strategy. Improving may mean just utilizing the tools you already possess in a more efficient way. But it also may include leading you through a transition to a system that better allows you to grow and manage your business.

Business Process Reviews and Improvements

How do your business processes appear from the perspective of your customer? How about your vendors? Do your current processes work with or against your employees in completing their jobs correctly, efficiently, and completely? We will examine your processes, suggest improvements, and help you implement these new procedures.

Other Special Projects

How many times have you put off those other projects because you either did not have the time or the expertise to handle them even though you knew they could help your business be successful? We can help you get those projects off the ground and completed.

In The Field

CASE STUDY #3:
One client was considering outsourcing their production and raising their prices. The Business Advice Team helped them build a costing model for each product they sold so that they could negotiate the proper costs with their new vendor, and correctly price their products to make sure their gross margin was adequate to make a profit.