The Landscape

Our client had a long history in the commercial transportation industry. The son purchased the majority interest from his parents and began to aggressively pursue new business in the established service line, as well as adding complementary service lines. These efforts have born fruit and the company is experiencing rapid growth. This has resulted in capital needs, including the purchase of an additional building and equipment as well as additional working capital for inventory and accounts receivable. The son would like to purchase the remaining minority ownership of his parents. Company personnel handles daily transaction processing.

Key Strategic
Financial Objectives

  • Proactive strategic and cash flow planning for growth opportunities
  • Support internal accounting team on more complex accounting and QuickBooks issues, and to allow the owner to rely on real time financial information
  • Accurate and timely financial reporting

Kirsch CPA
Service Plan

  • Initial cleanup of accounting records
  • Continuing resource for internal personnel on accounting and QuickBooks matters
  • Assistance with month-end close (bank reconciliation, adjusting entries, etc.) and preparation of monthly financial statements
  • Initial preparation of 12 month cash flow forecast; monthly updates
  • Quarterly strategic planning meetings to discuss both financial and non financial matters
  • Semi-annual tax planning


The Result

With their accounting records now scrubbed on a recurring basis, the owner can rely on the accuracy of financial reports to make decisions. Reports that were previously provided to the owner 60 or 90 days after year end are now in his in box by the fifth business day of the month. Inventory ordering that was previously done based on gut feel now is done based on real time information.

We assisted the owners in the negotiation for the purchase of an additional production facility which gave the capacity to add a complementary service offering.