Tag: accountant los angeles

Business Accountant Los Angeles

Business Accountants, we just want to be loved

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So what is a business accountant anyway?

Like the word LOVE, the meaning of business accountant may change depending on one’s level of commitment.  Love could refer to a relationship that is casual, sexual, or even metaphysical.  Such is the case with the business accountant.   No, I don’t mean that you should have a steamy relationship with your business accountant; that would give a whole new meaning to the term of double-entry accounting.   What I am getting at is how much to you utilize your business accountant to further business or financial life.

Many would be surprised to learn that business accountants, especially the business management types, act as the “orchestra conductors” of the business world.  When lawyers, insurance brokers, real estate agents, or pension consultants need information, they think of calling the client’s business accountant.  That is because we have our finger on the financial pulse of clients and know where to find answers.  We are not saying that the average business accountant has all the legal, insurance or real estate knowledge necessary to answer your every question.   But, we are saying is that a good business accountant serves as a compass to direct you to other professionals who can navigate among a company or client’s historical information.

So many business transactions involve the changing of money.  Who else knows records? The ever–increasing speed and capacity of technology helps the business accountant to sift through information and report it with faster speed than most other players.

But how else could you use your business accountant?  Many businesses restrict their interaction to taxes or financial statements.  We perform those functions, but they deal with historical data.    Better yet, we as business accountants, act as strategic planners.  We can use your historical information to plan and propose a plan of action for growing your business.  The starting point of predicting your financial potential is to have your business accountant lay out your financial history and adapt it to changing market conditions.  Your business accountant can then work with your marketing persons, productions staff, and sales people to carve a future where your business can break new ground.  This process can transform your business into a leader in new technology, services, or products.

Does your business stand out from the competition?  Does your business accountant provide you with the necessary information, processes, and tools to set your business apart and allow it to make money?  Is your business accountant committed to your company by using creative ways to reinvent your business?

Cost of CFO and Bookkeeping

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Many business owners who retain such individuals fail to look at all the components.  To compute the real cost of a CFO or bookkeeper, a business owner must add their salaries, payroll taxes, worker’s compensation charges, sick leave, vacation leave, training, parking, to name the basics.  Then, you may send your CFO or bookkeeper to seminars or outside training.  That’s a double-whammy.

But now comes a cost of an internal CFO or bookkeeper that is new to smaller owners, health insurance.  Under the new laws, most smaller businesses will be required to provide health insurance.  Even with the credits, probably not available to a company for a CFO, the cost will take a chunk out of the bottom line.

Now some businesses need an internal controller, a CFO, or a bookkeeper.  They function quickly with inventory shipments and cost analysis.  But many companies don’t need both a CFO and bookkeeper because of the advancement of technology and the web.

Many business owners are not familiar with paperless and remote accounting technology.  As a firm that provides outside CFO and bookkeeper services, we do.  We fill that gap for the business owner, usually at a fraction of the cost of a CFO and bookkeeper.

How do we do it?  Our bookkeepers are trained like the staff accountants.  They provide the small business owner with the skill set to manage the bookkeeping function while being guided by our accountants who act as outside CFOs.  A client does not need the constant skills of a CFO and bookkeeper if they have other employees, like an office manager that fills the day to day functions.  As outside CFOs and bookkeepers, we provide a specific skill set that targets the needs of the business owner from bookkeeping to accounting, and tax services to strategic planning.  As outside CFOs and bookkeepers, we help manage your business.  Our business connections provide a whole host of referrals for such things as insurance, financial planners, pension consultants, etc.  Our skill set provide the business owner with much more than an accounting function like a CFO or bookkeeper, we provide a whole business startup and operation specialty.

But we don’t stop there.  Within our function of acting as an outside CFO or bookkeeper, we help owners increase their top line by strategic planning.  Unlike a CFO or bookkeepers who restrict themselves to historical information, we look to the horizon and strategically help the business owner grow their business.  Yes, we provide the usual function of a CFO or bookkeeper in this manner, but how does that help a business owner grow his or her business?

The time has come of age for the external CFO and bookkeeping staff for many companies. The cost of keeping such a staff in house does not make sense for the on-hands business owner who is trying to get to the next level.