Accounting Services serve a broad range. They include Financial Reporting, Performance Indicators, Return on Investment, Cost Analysis, and Efficiency.
Financial Accounting starts with the basics
- Balance Sheet – A snapshot of your company’s value
- Profit & Loss – An overview of your Income and Expenses
- Cash Flow Statement – How your money flows
Additional Accounting Services
Key Performance Indicators (KPI) to evaluate your business. KPI’s are based on financial performance and operational performance.
Financial Performance – The Most Important Performance Indicators for Your Business – These include Profitability, Leverage, Efficiency, Liquidity, and Valuation. Profit Performance is generally measured by Returns and Margin while Leverage will measure the Equity and Debt in your business. Leverage explains how a business finances its assets and operations. Liquidity will tell the company’s ability to repay debt.
KPIs for the operation of a business will generally tell us how quickly inventory will arrive, sit on the shelves, and be sold. We also use Operational KPIs within Payroll.
Cost Analysis – Nearly every company has some form of Cost Accounting. Any time you can track your income from the cost of delivering that income you’re working with a form of Cost Accounting. A very basic form of Cost Accounting would be the amount of business you receive from a subscription service.
Other Forms of Accounting
- Governmental Accounting generally has its own set of rules they follow governed by GASB
- Forensic Accounting investigates the financial activities of both individuals and businesses.
- Tax Accounting is a popular form of accounting everyone is familiar with at least once a year.
- Auditing is designed to provide an independent analysis of financial activity to ensure a business is recording transactions correctly.
The most common forms of accounting we use with our clients include Cost, Financial, Management and some forms of Auditing.
We leverage performance indicators when we work with our clients. The industry we most often work with is Construction and Trade Services.