a watson accounting service llc briefing presentation
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Sales presentation slidesTRANSCRIPT
A Watson Accounting Service, LLC
Small Business GROWTH and PROFIT Experthttp://growthandprofitexpert.com
Is Your Business In The Black?
How Can My Business Become More Profitable?
Being Profitable is Based on Many Factors
Critical Questions
• Is your accounting up to date?• Does your accountant:
o Help you lower your taxes?o Help you manage your cash flow?o Increase your profits?
• What are your company’s one and five year goals?
Monthly Accounting and Statements
• Income Statement (Profit and Loss Statement)• Retained Earnings Statement – Changes in Retained
Earnings.• Balance Sheet – Statement of Financial Position• Statement of Cash Flows – Cash from Investing and
Operating Activities
Increase Your Profits
• Profit and Loss Statements will allow you to monitor your business better and gain control of your CASH FLOW.
• We can assist you in making your business more profitable.
• We can insure timely collection of Accounts Receivable
Increase Your Profits
• We perform key comparisons:o Performance comparison to last month, to last quarter, and to last year
in order to evaluate GROWTH.o Performance comparison to current competitors in your marketplace
(benchmarking using DuPont Models)o Performance comparison to other companies in the same industry via
Business Assessment
Profitability Phase I
Phase I Profitability• Marketing and Sales are occurring, but no one tells Production of
big, new contracts that have just been signed where customization is involved.
• Production might be rolling along with no idea what costs are associated with producing certain final products, or, the wrong products might be produced compared to what products are selling.
• The accountants seem to be tied to their desks, and never visit the production floor, or visit a potential customer with a sales person.
• Within the separate functions, everything seems to be going well, except for the complaints about the other departments.
Phase II Profitability
Phase II Profitability
• In Phase II of the Universal Business Model, synergy begins to occur. Some communication takes place among the three functions, and it helps. It is certainly better than Phase I.
• The middle area INTHE BLACK again indicates the potential profit for the business.
• In this case, profit is small – smaller than it could be, but certainly bigger than in Phase I.
Phase III Optimized Profitability
Phase III Optimized Profitability
• In Phase III of the Universal Business Model, the three major functions are working together and the goal is to maximize the area in the center core which represents profit.
• The center core is IN THE BLACK.
Phase III Optimized Profitability
• It is impossible to maximize profit without the three functions interacting with each other.
• Here, profit is much bigger than it was in either Phase I or Phase II.
Tax Planning and Tax Preparation?
• Tax Preparationo Form 1040 Personal Income Tax Report o Schedule A Adjustments to Incomeo Schedule C Business Income and Expenseso Form 1120 Corporate Income and Expenseso Form 1065 Partnership Income
• Tax Planning o Analysis and Projections
The Difference is Easy• All tax planning is done prior to December 31st
o Deductions are plannedo Take advantage of cash options
• Deferrals• IRAs and Pension Plans (401Ks)
• Tax preparation is done from January 1st to April 15th
o Tax Forms are prepared and filedo Schedules to Forms are prepared and filed
Lower Your Taxes• Better information allows you to make better
decisions sooner.• We can help you keep MORE of the money you
make.• We can save you TIME by preparing and filing
your tax returns on time.
Timely Preparation of ALL Your State and Federal Tax Forms
• Form 1040 Personal Income Tax Report • Schedule A Adjustments to Income• Schedule C Business Income and Expenses• Form 1120 Corporate Income and Expenses• Form 1065 Partnership Income• Form 1040 IT Ohio • And More…
Peace of Mind
• Know that your tax reports are correct and filed on time.
• Never paying another penalty fee will save you money.
• You do what makes you MONEY, we do what takes your TIME.
Business Improvement Process and Bench Marking
• In The Black Seminaro Process Improvement
• Business Assessmento Industry Comparison (NAICS Comparison)o Ration Analysis ( 20 Financial Statement Ratios)
Are You Confident?
• What is your business’ Current Ratio?o Is your business profitable?o Can your business meet it’s current obligations?
• Is CASH FLOW managed in the best way possible?• Is your business profitable or “In The Black”.• CASH FLOW, CASH FLOW, CASH FLOW
Key Comparisons
• Performance comparison to last month, to last quarter, and last year to evaluate GROWTH.
• Performance comparison to current competitors in your marketplace .
• Performance comparison to other companies in the same industry as your company.
Become The Expert
• Diagnose strengths and weaknesses comparing your business to other in your industry.
• Learn how your business stands in the 20 major financial ratios.
• Find out what is working well in your business• Find out what needs to be improved in your
business and get strategies that you can implement that will increase your profit.
The Wisdom Pyramid
Professional Accounting Services
• Accounting Services is your path to improved profit and performance.
Available Services
• Financial Records Pick up and Delivery• Monthly Financial Statements• Tax Reduction Strategies• Improved CASH FLOW• Strategic Decision Support• Accounts Receivable• Payroll Accounting
Accounting Questions• Who does your accounting?• What would you change about current
accountants service?• What is most important to you about the
accountant you select?• What would it take for you to feel taken care of by
the accountant you select?• Have you ever paid late fees or penalties?
More Accounting Questions
• What about pick up and delivery services?• What about online services?• What is working well right now?• What needs to be improved in your business right
now?• What is your action plan to improve any areas of
weakness?• When did you have your last Business
Assessment?
Are You Working In Your Business
or On Your Business
• Are you spending valuable TIME doing paper work instead of producing sales? o Paying Bills?o Writing Checks?o Making Payroll?o Mailing Invoices and Collecting on Invoices?
• Are you working IN your Business?• Professional help can save you TIME and MONEY.
Professional Consultation
• Having a second opinion will help you make better DECISIONS (the correct choices among alternative choices).
• Use us as a sounding board in all important financial DECISIONS.
• The only bad question is the one un-asked because you no consultation.
• Get the right answers to your questions.
Make the right DECISIONS based on WISDOM
What is Accounting?
• Setting up the BOOKS of original entry.• Collecting, Analyzing, and Recording economic
events into the BOOKS.• Making sure businesses run efficiently.• Making sure businesses are profitable.
What is the Cost of Accounting?
• What is it costing YOU to do your own accounting right now?o How much TIME is it taking you?o How much money is it costing you?o How may mistakes are you making?
• Professional Accounting is very affordable.
Current Cost Example
Monthly Time and Expense
Time Spent on Accounting = 15 hours What You Earn Per Hour = $65 Per HourCost of Doing Your Own Accounting = $975 ($65 x 15)Less: Our Accounting Fee = $325Your Net Savings = $650 ($975 - $325)
Accounting Staff Cost• At $10 /Hour Rate (Week) $400• Additional Employee Cost • Mandatory Costs ($400 x 15.65%) $63• Hiring Cost (7.0% x $400) $28• Discretionary Cost (39.9%) $136 • Total Additional Cost (56.55%) $227 _____• Total Employee Cost/Week $627• Total Employee Cost/Month $2,508 • Compare to Our Fee /Month $850• Your Savings (Our Value) $1,658
Why Use Our Services?
• PROFIT and GROWTH oriented.• Convenient.• Accessible.• Affordable• Knowledgeable• Goal Oriented• Client Oriented (Services Guaranteed)
Client Satisfaction Guranteed
is hereby granted to
A Watson Accounting Service, LLC guarantees your satisfaction with the services we deliver to you. If you are not satisfied with the accuracy and completeness of the financial information or services we or one of our sub-contractors has delivered to you, simply write a letter and send it to us by certified mail within seven days of the date that the services were delivered or provided to you. After we receive your certified letter, we will set up a meeting with you so that we can negotiate , with you, as to a fair and reasonable discount off the billed fee.
THIS GUARANTEE IS EFFECTIVE STARTING JANUARY 1, 2012 AND ENDING MID-NIGHT JANUARY 7, 2012
Aric M Watson, President
A WATSON ACCOUNTING SERVICE, LLC
City Cycle
Client Satisfaction Guarantee
Our MissionTo give small business owners PEACE of mind. Increase PROFITS, lower TAXES, and manage CASH flow.
Contact InformationPlease contact us. We want to hear from you and
help you today.
http://[email protected]
Office: 740-879-3035
Thank You For Your Time!