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  • { <br /> <br /> "1": "Thank you for meeting with me today. I know your time is valuable so I’ll be very brief. ", <br /> <br /> "2": "The one question that every small business owner ask is, are we making a profit? Bottom line, are we making any money? Sales are great, but are we making a profit? \r\rYour accounting and information system (AIS) is the system of records a business keeps to maintain its accounting system. This includes the purchase, sales, and other financial processes of the business. The purpose of an AIS is to accumulate data and provide decision makers (investors, creditors, and managers) with information.", <br /> <br /> "3": "Imagine a paradigm shift in business that promoted the accounting profession by encouraging its active role in business. Using Dr. Deming's Wisdom Pyramid, the Universal Business Model has clearly become the way to run any business profitably while involving the accounting process. \r\rYour accounting and information system plays an integral part in the success of your business. I’ll explain this in more detail later in this presentation.", <br /> <br /> "4": "Are your books current? Every single business in the United States large or small is required to have an accounting and information system in place. The Internal Revenue Service demands that every business be able to account for all of the economic activity of the business and their tax effects. There are certain thing that your accountant should be doing for you on at least a monthly basis to insure that your business is in compliance with the IRS and other governmental authorities. \r\rWhere is your business headed? What are your goals? Do you have a business plan? Are you meeting your goals and projections?", <br /> <br /> "5": "These are the four basic financial statements that every business owner is responsible for. You must be able to read the information on these statements and how the data on each statement is related to the other statements. We will compile, prepare, and interpret the meaning of these statements. ", <br /> <br /> "6": "We won’t just print out a report and give it to you. After we interpret all of the financial data, it will become information to you.", <br /> <br /> "7": "You want to know if your company is competitive with firms in your industry.", <br /> <br /> "8": "See next slide.", <br /> <br /> "9": "There is some communication and information sharing between production, marketing, and accounting functions. The Sales Function is signing new contract deals, but the Production Function is not properly equipped to manufacture and fill all the orders coming in. \r\rThe Accounting Function is not aware of the costs of some of these projects. ", <br /> <br /> "10": "See The Next Slide .", <br /> <br /> "11": "Sales data is being shared with production and accounting. All three functions are now communicating with each other. Profit is growing as accounting takes on more of a central role and all functions are sharing accounting information.", <br /> <br /> "12": "See the next slide ", <br /> <br /> "13": "All three functions are cooperating. Accounting information is being shared between all of the Functions. Maximum profits are being realized.", <br /> <br /> "14": "See notes on the next slide .", <br /> <br /> "15": "See the next slide", <br /> <br /> "16": "What is the difference between Tax Planning and Tax Preparation. Basically, Tax Planning occurs prior to December 31st. Tax Preparation starts on January 1st and ends on April 15th. ", <br /> <br /> "17": "The tax code is complex and confusing. We understand tax rules and if we do not have the answers we know how and where to find them. Every transaction has tax implications. We take that into consideration every time we analyze a transaction you make.", <br /> <br /> "18": "Your accounting and information system should generate the information you need to prepare your income tax returns.", <br /> <br /> "19": "We prepare your tax returns based on accounting data and records that we retrieve from your accounting and information system.", <br /> <br /> "20": "We will perform a Business Assessment on your Business every year. You will know where you stands with other businesses in your industry. ", <br /> <br /> "21": "When we assess your business, we will tell you what your Ratios are! We will go over more than 20 ratios with you. We will go over your Liquidity, Profitability, and Leverage. ", <br /> <br /> "22": "You will know how your company stacks up against the competition. Giving you a competitive edge.", <br /> <br /> "23": "In our Business Improvement Seminar “In The Black” we teach you the nine principles needed to operate a profitable enterprise. One the principles is to “know your business”. We show you how to be the financial expert in your business.", <br /> <br /> "24": "Knowledge of your business makes you the expert in your business . Your banker and other stakeholders will be more inclined to consider your business a good candidate for a loan or investment dollars.", <br /> <br /> "25": "A Watson Accounting Service. LLC is your growth and profit expert. We will design an accounting system specifically for your business. Our services are designed to ensure your business is operating at maximum efficiency. ", <br /> <br /> "26": "Refer to the list of items on the next slide. ", <br /> <br /> "27": "Refer to the next slide Take notes on some of the answers from the propsect.\r__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________", <br /> <br /> "28": "Notes from the prospects answer\r_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________", <br /> <br /> "29": "Are you spending a lot of time on paperwork and payroll? If so, then you are working IN your business and NOT ON your business. \r\r_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________", <br /> <br /> "30": "See the next slide .", <br /> <br /> "31": "We will teach you how to get the most out of your accounting system. Making the right business decision is based on a sound accounting system. If your data is bad, your business decision will be bad. ", <br /> <br /> "32": "Accounting is the language of business. As a business owner, you are expected to know the language. You are ACCOUNTABLE for what happens in your business. You are an Entrepreneur. Therefore, You accept the risk involved in running a business and you are responsible for it’s profits and losses. My goal is to help you become the EXPERT.\r", <br /> <br /> "33": "Outsourcing your accounting will save you TIME and MONEY. Spend your time producing sales revenue for your business. You do what you love to, we will do what you don’t have TIME to do.", <br /> <br /> "34": "We can save you $650 if we do your accounting and bookkeeping every month. It is more profitable to outsource your accounting. Your savings alone will PAY for our services. Almost a 2:1 Ratio. ", <br /> <br /> "36": "Our principal has over 25 years of small business accounting experience. We have the small business accounting skills, education and experience in the fields of accounting, taxes, payroll, and business management.", <br /> <br /> "37": "We stand behind our services. ", <br /> <br /> "38": "Finally, The gulf coast business owners are not being paid by BP primarily because many of them never had an accounting system in place. Now they are required to produce production reports and earnings reports and they have no IDEA where to start. And they are not being paid. Don’t let this happen to YOU.", <br /> <br /> "39": "Let’s write up a fair fee. \r\rWhat method of payment would you like to use today? We accept checks , Master Card, or Visa." <br /> <br /> }

A watson accounting service llc briefing presentation A watson accounting service llc briefing presentation Presentation Transcript

  • A Watson Accounting Service, LLC Small Business GROWTH and PROFIT Expert http://growthandprofitexpert.com sales@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 Preparation o Form 1040 Personal Income Tax Report o Schedule A Adjustments to Income o Schedule C Business Income and Expenses o Form 1120 Corporate Income and Expenses o 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 planned o 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 filed o 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 Seminar o Process Improvement • Business Assessment o 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 Hour Cost of Doing Your Own Accounting = $975 ($65 x 15) Less: Our Accounting Fee = $325 Your 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 accuracyand 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 certifiedmail within seven days of the date that the services were deliveredor provided to you. Afterwe 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 Mission To give small business owners PEACE of mind. Increase PROFITS, lower TAXES, and manage CASH flow.
  • Contact Information Please contact us. We want to hear from you and help you today. http://growthandprofitexpert.com sales@growthandprofitexpert.com Office: 740-879-3035 Thank You For Your Time!