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Client Advisory Services

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How We
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We provide the following client advisory Services:

helping you All the Way

What is client advisory services? Is it the compliance work we do through our bookkeeping and tax preparation? Or is it something different?

Is it merely compliance work? Is it something anyone can do? Do you know if it Is something you should be doing already? What are the benefits and, worse, what are the consequences of not having client advisory services performed for your business?

Adam M. Domow CPA views client advisory services as the compliance services we already perform for our clients that is taken to the next level. The accounting, bookkeeping, tax reporting that is done for compliance purposes and now is utilized in such a way to helping you navigate the path to professional and personal success. To reach and exceed the financial objectives and milestones you have set up for your business, as well as the personal goals and aspirations for you personally.

Client advisory services can include many types of services tailored to your specific needs and situation; among the services we provide:

Financial Statements Analysis and Consulting

Do you need professional financial advice but have limited funds? Can you afford a full-time CFO/Controller? Do you know if your company would benefit enough having a full-time CFO/Controller?

The compliance work (i.e. accounting and tax reporting) have been completed so you must be done until next year, right? WRONG. There is so much more we can do with this information.

How do you determine the strength and weakness of your business? What are the steps you should take to ensure your continued growth and success? The answer is financial statement analysis and strategic
consulting.

Through financial statement analysis and strategic consulting, we are able to game plan with you in developing the steps that will move your business forward, including:

  • Increasing your revenue and/or decreasing your expenses
  • Strengthening cash flows (see below for a more detail explanation)
  • Maximizing the benefits of both debt and equity utilization
  • Following-up on strategies to determine proper implantation and effectiveness

Part-Time CFO/Controller and Management Consulting Services

Do you need professional financial advice but have limited funds? Can you afford a full-time CFO/Controller? Do you know if your company would benefit enough having a full-time CFO/Controller?

With the cost of employing a full-time CFO/Controller being in the range of $100,000 to $200,000 or more, many businesses are not able to afford such a person. However, most small businesses have a need for such a person. What then? We at Adam M. Domow CPA are able to provide you with our experienced part-time CFO services support at a small fraction of that cost.

Our services are tailored to your specific needs and allow for:

  • You spend more time focusing on your business, such as offering new services, obtaining new customers, and handling other business issues.
  • You to have a better understanding of your business’ finances and more control over your money.
  • You to make more improved decisions by having concrete and timely financial information at your fingertips.
  • You have a sounding board to help in making tough business decisions (i.e. equipment purchases, expansions, etc.) and determining short and/or long-term plans.
  • You have the security in knowing that a professional is overseeing and constantly improving the financial side of your business.
  • You to have an individual acting as your intermediary with various third parties (i.e. bankers, attorneys, insurance agents, etc.)
  • You have training and management of your accounting staff.

Cash Flow Management and Analysis

Do you know when you will need cash? Do you know how to decrease customer collection times? Do you know if your maximizing the utilizing and timing of your funds?

As a business owner, we know you would agree with the saying, “happiness is a positive cash flow”. Everything is easier when your cash inflows exceed your cash outflows. But what if those inflows don’t exceed the outflows? This can be emotionally to you and financially devastating to your business.

Our cash flow management services allow you to:

  • Know when, where, and how your cash needs will occur.
  • Know what the best sources are for meeting your additional cash needs.
  • Be prepared to meet these needs when they occur by keeping good relationships with bankers
    and other creditors.

By developing a cash flow projection, we can help you and your business to avoid a cash emergency.
Through short-term (i.e. weekly or monthly) cash-flow projections we help you manage your daily cash while long-term (i.e. annual, 3-5 year) cash-flow projections help you develop the necessary capital strategy to meet your business needs.

Through historical cash-flow statements we help you to gain an understanding about where your money went. Cash flow projections are just one of the many cash management services we provide.

Additionally, you receive:

  • Help obtaining lines of credit.
  • Analysis of your cash collection and cash payment policies with recommendations for improvements.
  • Help obtaining the maximum rate of return on your idle cash.

Budgeting and Financial Forecasting

Do you know the differences between budgeting and financial forecasting? Do you know their benefits of utilizing and detriments of not? Do you know how to prepare a budget or financial forecast, and if so, do you know how to properly read and implement strategies based on such information?

Budgeting and financial forecasting are tools that an owner uses in establishing a plan for where they want to take the business (budgeting) and whether it is headed in that direction (financial forecasting). Budgeting quantifies the expectation of revenues and expenses that a business wants to achieve for a future period, whereas financial forecasting estimates the amount of revenues and expenses that will be achieved in a future period.

Prepared on an annual basis (or shorter depending on your specific needs), budgeting creates a baseline for comparing actual results to that of the expected performance. Our budgeting services include:

  • Estimates of revenue and expenses
  • Expected cash flows
  • Expected debt reduction, and
  • Comparison to actual results to calculate the variance

Financial forecasting estimates a company’s future financial outcomes by examining historical data thus allowing management to anticipate results based on previous financial data. Our financial forecasting services will allow you to:

  • Determine how your business should allocate its budgets for a future period.
  • Regularly update (i.e. monthly or quarterly) for when there is a change in operations.
  • Look at both the short-term and long-term.
  • Use financial forecasting and take immediate action based on the forecasted data.

What Should I Do Now?

Feeling like you’re just going through the motions of running your business? Feeling like you cannot see the forest from the trees? Feeling like you do not have the time or energy to do your own advisory services? Feeling like, by not having client advisory services you are unintentionally putting yourself and your business behind the proverbial 8-ball?

Whether you need better understanding of your financial statements, someone to provide affordable part-time CFO/Controller services, more control over the timing of your cash flows, or budgeting and financial forecasting, we at Adam M. Domow CPA are here to tailor services geared to your specific needs. So, pick up the phone, send us an email to begin down the road towards continued financial growth.

“Success and Happiness”

Adam Domow

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