A controlling interest in a multi-state company was acquired by one of its minority shareholders. When the minority shareholders purchased the company, it was operating at a loss. The new ownership group came to Kirsch CPA Group for help in developing an accounting system that would give them accurate information so they could develop a game plan for turning the company around.
- Increase profitability
- Accurate and timely financial reporting
- 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
- Up-to-date financial records that track operating results
- Measure profitability three different ways – by project, service and location
- Utilize QuickBooks job and class tracking capabilities providing management the ability to analyze results
Analyzing the entire service offering revealed a category of business that was not operating profitably. Since this service was not an integral part of the company’s service offering it was eliminated. This decision allowed management to concentrate their efforts on growing their core business rather than managing a struggling service offering. As a result of having real-time up to date financial records, management has been able to make the necessary decisions to ensure the success of the organization.
KCG continues to be a trusted resource of the company. We interact with the company’s team members on a daily basis through the outsourced bookkeeping, controller and CFO functions. We act as the outsourced accounting department for this company with one goal in mind: provide real-time information that will allow the owners and manager to make informed decisions.