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Advisory and Consulting Services are sometimes referred to as "nontraditional" services.
Because of our thirty - plus years' background and our immense depth of knowledge and experience, we are among the
best choices when it comes to selecting a firm to provide you, our client, with advisory services that will best suit your
needs. The following list provides some insight into the various Advisory Services avaliable:
Internal Controls Evaluation: Fraud,
embezzlement, theft, whatever you want to call it - exists in most every enterprise. It could be as immaterial
as office supplies finding their way out the door, to significant amounts of the enterprise's assets being diverted.
In some industries, it can be a larger problem and sometimes its very existence might threaten the ability of the enterprise
to sustain profitability and therefore can threaten the enterprises ability to continue to operate. During
these difficult economic times, this problem may become even more prevalent. The concept of "Internal Controls" is having in place - within the operations of
an enterprise - a series of policies, procedures, rules and requirements that can minimize or eliminate certain risks of theft
in the workplace. Of course, a very important aspect of an effective system of Internal Controls is not only to establish
these procedures, but to include a system whereby these procedures are "enforced" - that is to say, to ensure that
these procedures are truly being followed. We have extensive knowledge and experience in the areas
of Internal Controls and have successfully advised clients on methods to install new, and / or improve existing, Internal
Control systems. If you have any doubts or concerns about this, you should give us a call. We will be pleased
to briefly discuss your concerns and give you our feedback.
Profitability Analysis, Financial Forecasting and Modelling,
and Budgeting and Financial Goal Setting - All these services have several "common denominators".
The commonality among these various services is management's desire to improve on the current performance of the enterprise.
Different professionals, members of management, third parties, etc., refer to this using different "catch phrases"
which is why these services have been stated separately under the bullet points listed earlier. There some subtle differences
in each of these types of consulting services and are - to some degree - determined by what type of report (if any) might
be provided to management upon completion of our assignment.....most of which are subject to certain "rules of reporting"
within the CPA profession. Profitability Analysis is generally a consulting service and might
be intended on focusing on limited areas of the enterprise's operations. As stated before, the purpose is to identify
specific areas within the organization where financial efficiencies (and therefore profits) can be improved. Financial Forecasting is usually performed as part of a third party's
request or requirement and - generally speaking - the purpose is to fulfill some reporting requirement imposed by a lender,
a prospective lender, prospective investors, a venture capital firm, or others. Generally speaking, this service
does not contemplate advisory-type services and does not go into any significant depth beyond analyzing the
methodology of how management determined reporting amounts on the financial forecasts. To a greater degree, this service
is of a Financial Reporting level. Budgeting and Financial Goal Setting is more of an in-depth advisory
service. Generally, the intent is to advise and consult with management in making budgetary related decisions without
actually taking any management role within the enterprise. These management and budgetary decisions may include such
activities as the creation and monitoring of internal budgets and department goals, personnel related considerations (relevant
to the budgetary and goal setting process), streamlining operations, etc. It can generally be as comprehensive
as necessary, or as appropriate; depending on management's request or the circumstances may "dictate".
Examples of a Budgetary and Goal Setting service might include (but not limited to): (1) Establishing Budgets for each department
within the enterprise; (2) Setting Strategic Goals for enterprise growth - over a few quarters, over one or more years, etc;
(3) Setting sales goals for the sales department; (4) Budgeting specific areas of activity - such as merger activities,
R&D activities, subsidiary enterprises, etc.; (5) Turn-around services for an enterprise that may have a need / desire
to take drastic steps in an effort to avoid business cessation.
Long Range Transition Planning services are primarily focused on evaluating
the enterprise, as it stands today; and developing a long term plan with recommendations aimed at enhancing the enterprise
value, as well as outlining the various other processes necessary for a smooth transition in the enterprise's top executive
levels, the ownership, or both. These requisite processes are quite unique and tailored to the specific client
company, and take into consideration (for example) a variety of the client company's industry, environment, and the regional
and local business climate. Business Plan services generally
involves a startup enterprise. Typically, a written Business Plan is required by a prospective investor, a prospective
lender, Venture Capital Firms, and the like. While we do not provide Business Plan writing services, we are able to
advise on certain financial elements that management may provide (or may consider providing) in these reports. IN SUMMARY:
The area of Advisory and Consulting Services can be considered to include a very wide variety of services. To put it
simply, we can be of assistance in consulting and advising you on a wide range of matters - generally with the goal of improving
the growth, operations, and profitability of your enterprise. We look forward to assisting you.
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