Part-Time Accounting/CFO

Your Role

Virtual CFO, Accountant, Planning, Business Strategy, Forecasting, Business Plans, Marketing Plans

 Your role as CEO of your business, is to develop and implement a strategic operating plan. ABS will advise you on the financial outcomes associated with your plan, making sure you have positive growth and pay the least amount in taxes.  We will work with you monthly, (or as needed), monitoring and modifying the plan to help you stay on target.

Accounting & Tax Strategies

Accounting and Tax Planning

 

This is one of the most important tasks that most small business owners overlook and neglect.


 At Accounting & Business Strategies we perform a variety of accounting services for our clients.  Working closely with your company helps us obtain in-depth knowledge of your business.  This knowledge along with seasoned advice will help you make smart financial decisions, winning business strategies, and help you pay less on your taxes.  

Our Role

Virtual CFO, Accountant, Planning, Business Strategy, Forecasting, Business Plans, Marketing Plans

 Our role as CFO/Advisor is to make sure your business is in good financial health. This is not just about being profitable, it's also about having enough cash to pay your bills when they're due and having the financial resources to grow as fast as you can. Most small businesses do not pay enough attention to this critical function and that's why many fail. 

What We Do

Planning

Are you clear about your businesses objectives, and goals? Do you want to succeed in today's competitive market?  Do you have a strategic plan? 


There are two types of business plans, working and formal.  Every business needs at least one.


Working

  • A blueprint that can be adjusted in order to achieve your goals
  • Targets advantages and barriers
  • Will help to gain better focus
  • Helps you stay ahead of your competition
  • Avoid common mistakes

Formal

  • Your business' resume
  • Provides critical elements required by lenders, investors, and buyers
  • Foundation for raising capital 
  • Key part to effective management
  • Increases your chance for success

Reporting

Virtual CFO, Accountant, Planning, Business Strategy, Forecasting, Business Plans, Marketing Plans,

Do you understand what your Profit & Loss Statement and Balance Sheet are telling you?  Is there enough cash coming in to cover the cash going out?


Accounting is more about measuring than it is about counting, and if you own a business you should have a general understanding of your financial reports. 


Our bookkeeping service will provide accurate and important information.  Our accounting service will provide an understanding about your income statement, balance sheet, and statement of cash flow.


It is our promise that we will explain each statement in the simplest way possible.

Forecasting

Are you a forward-thinking professional? Do you know what is going to happen in the future?


Honestly, most small business owners never think about forecasting and budgets.  Well, if you want that vacation home, or you want to send your two children to a great college, you better start thinking about them.  

Do you need them all?  Probably not.  ABS focuses on the following:


Budgets - Your realistic estimate 

  • Sales and Collections Budget
  • Cost of Goods Sold Budget
  • Inventory and Purchases Budget
  • Operating Budget

Forecasting - Your future

  • Predict future outcomes
  • Determine future trends
  • Helps decision makers deal with potentials
  • Can be used for short-term or long-term events




Other Things We Do

Virtual CFO, Accountant, Planning, Business Strategy, Forecasting, Business Plans, Marketing Plans

Sales Plans & Marketing Plans


ABS provides sales and marketing plans that are very powerful.  Both plans are living documents, and need to be not only easy to read, but both must be as fluid as possible.


To accomplish this, it is ABS' job to not only understand our clients and their needs, but to also understand their competition.  Many business owners are positive they know both, but you would be surprised how many times they are wrong. Using market research and marketing analysis ABS will provide valuable insights that will create an effective sales and/or marketing plan.

Strategic Planning

There is agreement among practitioners, consultants, and scholars that there is not one simple or single best approach to business strategy.  ABS believes the best strategy is one that is custom designed for your business.  Decision making is what business strategy is all about. The question is will you make the right decision?


Diversification for Multiple Streams of Income


Corporate or product diversification is a powerful strategic decision.  It protects you from being overly dependent on one source of income, also, it is one of the best tax strategies out there. 

 

Related diversification is a process that takes place when a business expands its activities into product lines or services that are similar to those it currently offers.  The existing business and the new business share strategic assets or resources, such as distribution channels or technology to mention a few.


Advantages:

  • Provides easier expansion, because you already know the industry you operate in, and you can leverage that knowledge.
  • Helps achieve economies of scope, which are cost advantages that result when businesses provide a variety of products or services. This can and should eliminate or reduce cost significantly by operating two or more business under one corporate headquarter. 

Unrelated diversification is in a different industry and operates independently.


Advantages:

  • Helps protect businesses against loss by not putting all their eggs in one basket.  
  • Provides an offsetting cash flow strategy.
  • Capitalizes on tax strategies through subsidiaries.

So, I suggest keeping things simple. Start with a realistic sense of how much risk you can handle.


Business Consulting, Business Consultant, Small Business, Tax Planning

Tax Planning


Now, more than ever, effective planning is crucial if one is to achieve certain financial goals and realize tax savings.  Now is the time to start making the changes that will help you pay less in taxes.  

  • Maximize your tax savings from allowable deductions.
  • Reduce your current year’s tax liability. 
  • Defer the current year’s tax liability to future years. 
  • Reduce any potential future year's tax liabilities.
  • Capitalize federal and state tax credits (these are often overlooked and underutilized, but could save you thousands of dollars)
  • Business Entity Status is one of the most powerful tax strategies there is.  However, most business professional's advice focuses on liability and ease. They are missing the big picture, what about income tax?  


Serving Georgia Since 2002

Atlanta Area Office

3675 Crestwood Parkway

Duluth, GA 30096

404-736-3126

Savannah Area Office

157 Commercial Court, Ste. B

Rincon, GA 31326

912-754-0873