financials matter

Want to know what is going on in your business? Being able to read what is happening to your business requires financials that are timely and accurate.  Let us help you analyze what the balance sheet and profit & loss are telling you.

COmPLIANCE

Local, state & federal laws

Running a business means dealing with multiple state and government agencies and preparing all the reports to be compliant in a timely manner.  A missed deadline can cost up to 10% penalty.

• Sales & Use Tax returns
• Environmental Hazard Fees
• Form 571-L for Unsecured Property Taxes
• Alcoholic Beverage Tax Program
• Tax Return filings
• Annual Audit

For a comprehensive California list go here: http://www.cdtfa.ca.gov/taxes-and-fees/

size matters

The larger the size of your corporation, the more certain labor laws apply.

• All CA employees are entitled to 3 days sick leave - accrued or front loaded
• The ACA, Affordable Care Act, requires companies with more than 50 FTE Full Time Equivalents (30 hours or more per week) workers must offer health insurance
• A charitable organization with annual contributions of $750,000 or more must file an audited financial statement prepared by an independent CPA

These are just a few of the many rules that owners and managers must be aware of when making decisions about their business.

planning

Management must make decisions that affects the direction their company is going.  Smaller organizations do that using a visionary and integrator to run the organization.  Those plans usually need to be matched with budgets and forecasts.  And then using strategic and operational reports make better decisions as the quarters pass by.

Larger organizations always have a budget.  This helps management control costs and review revenue expectations.  If those prove to not align with expectations, then management could reduce or increase spending as needed.

Various industries have macro economic models to compare to.  Most have benchmark standards for COGS, Cost of Goods Sold, and Labor Costs.  If you manage your business to those standards you will most likely be successful.