Monthly consultation with your CPA — financial planning with results

Business owners' accounting & finance: The vital necessity of financial planning

Financial planning is the kingpin of business management. It is in this area that you can booster the results of your own hard work by using a few minutes weekly or monthly for financial planning.

The basic rule of financial planning is that the more experienced the person doing it, the better the results.

For a business activity, financial planning (and monitoring) is what maintenance and servicing is to a car.

Without routine financial planning it is more than likely that your "engine" is using far too much fuel - costing you more to run it than necessary and robbing an unfair share of your profits.

Many engineering business owners are practically orientated and the sharpest edge of their expertise is often targeted at the production and/or sales of their chosen goods or services.

Also, financial planning has traditionally been considered as something very challenging and complicated... which it is NOT in truth.

But because we THINK it's complex and difficult, many architecture business owners tend to back off from it just a bit.

This leads to some degree of uncertainty, which is the worst element to have in financial planning. In fact, it's fatal.

Uncertainty leads to indecision, which leads to the needed corrections being left out.

Essentially, financial planning is very easy when done the practical way. Decisions are easy once all the data about the situation is fully known, verified and set in a correct order of importance.

While none of us particularly like problems, it is of course easier to solve them when they're small. A minor adjustment is usually all that's needed. It's fast. It's easy. And the overall cost of solution is definitely at its lowest... and the benefits produce most!

But to get to solving problems (and utilizing positive trends) almost immediately after they've been born, you need to have the monthly accounts closely monitored... and you need to have certainty on what to do.

This is the area where we tend to waste tens or even hundreds of thousands of dollars... just to save a few hundred per year.

Using the CPA's most in-depth expertise in your company's financial planning

It is said that an intelligent person solves his problems on his own but a wise one utilizes the top expertise available to him.

When it comes to the ongoing month-to-month financial planning of a company, it is vitally important to have more than one investigative mind searching for solutions.

And here, definitely, it pays off to use as TRAINED and EXPERT a "financial mind" as possible. It simply minimizes the chance of something being left out - and, above all, gives yourself an excellent opportunity to learn from the best as a free bonus.

Financial planning is, of course, the thing many CPAs excel in. If a CPA or accountant has a knack for it, if he has a fair amount of experience in it with other businesses... his knowledge is definitely a very valuable asset if you can get to use it in your own financial planning.

Whether or not you currently USE a CPA in your ongoing financial planning, it is valuable to choose one that can and will help you, if and when you need it.

It might well be the one thing that could save and/or earn you quite a bit...

Insider Tip

When choosing your CPA firm, interview the specific accounting professional that will be serving you if and when you sign onto their service. Listen to whether or not he suggests monthly consulting - and what type of consulting and advisory services he speaks of in general. If he offers it and discusses it in some length, you will know that he most likely has the knack and experience to DELIVER this invaluable assistance. If he DOESN'T bring the subject up at all or explains it in very round terms, it shows that he probably hasn't delivered such consulting. People generally like to talk, present and offer the type of services they're most familiar with.

Insider Tip

Correct gradient of consulting, keeping it simple and pertaining to essential points

As a CPA, I can tell you that we accounting professionals easily start making things way too complicated.

It is easy to slip into using accounting terminology that isn't NECESSARY to use in order to communicate the matter at hand.

Most subjects within accounting & finance CAN be communicated in normal, understandable English without the use of specialized terminology.

And they SHOULD be explained in plain English simply because a business owner shouldn't be required to have a command of OUR professional terminology, don't you think?

You're essentially paying for INFORMATION, not a course in accounting terminology - and the CPA should be able to DELIVER that information in an understandable form.

When choosing your CPA, be very conscious about how plainly he talks about financial planning. The simpler the language the better.

Be wary of anyone using in complicated, hard-to-understand terms.

The bottom line is that if it isn't relatively easy to understand the CPA when he PRESENTS his consulting service, it might only get HARDER once you've signed onto the service.

Trust your instincts. Allow SOME leeway for learning but hold onto your right to be communicated to in understandable terms right from the onset.

Complicated terminology requires learning. CPAs have had to study the technical side of accounting and finance - and that's where the specialized words come from.

But your CPA is really your interpreter, translating financial accounts for you so you can access the information. What good's a translator unless you can UNDERSTAND?

So, always choose the CPA whom you can understand.

Done correctly, the consulting itself should be short, requiring only about 15-30 minutes of your time once a month.

The CPA will use a lot more time at it, of course - he needs to monitor, analyze, graph and evaluate your Key Figures before the consultation and, if needed, prepare a written program for you after it - but only a little of YOUR time should be needed to relay the information.

And that's how it should be. After all, your time is needed elsewhere and your CPA should recognize that and ensure his/her service saves your time.

The consulting should also progress in an easy gradual pace, handling one thing at a time.

Trust me, it sounds much more complicated than it really is, once you get down to it.

Once a month, you sit down - face to face or by telephone - and talk over the previous month's figures with your CPA.

He should explain each of the Key Figure's ramifications to the various activities and fields of your business.

He should provide you the KNOWLEDGE of where you are, how last month compared with previous months' output and the target you set for it... things like that.

It is simple and easy - but, eventually, the RESULTS are nothing short of spectacular.

The constantly increasing certainty and direction in your financial planning will inevitably improve the "power output ratio" of your business activity, leaving more fruits of your hard work for you to enjoy.

A simple way to experience what monthly financial consulting feels like

For a short while, you can get to test what it feels like to be in consultation with an experienced CPA.

This service is called the A/E Dashboard Service and all it does is help you answer the questions YOU have on accounting and financial planning.

This is the best part: You will find out exactly HOW the monitoring of your Key Figures and a monthly consultation about these would serve YOUR needs and wishes best.

The A/E Dashboard Service normally costs $285/month but if you use this offer NOW, you will get it absolutely free of charge for three months - and there's NO obligation!

But don't wait - for this offer may not last long... and when it's gone, it's gone!

CLICK HERE to read about the A/E Dashboard Service — a unique eye-opener giving you all the "inside information" on how to receive much more out of accounting.

If you have questions, please feel free to contact me personally at any time. You can call or e-mail me and I will be happy to answer any and all of your questions.

Best wishes,

John M. Krueger, CPA
About Our Firm
6231 E. 16th ST
Tucson, AZ 85711
Phone: 520-747-7191
Email: John@AEprofitedge.com
CONTACT FORM

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