LBMC’s Client Advisory & Accounting Services for Businesses

First, you’re introduced to an onboarding team consisting of a CPA, an onboarding specialist, and a bookkeeper. During the first week, the team gains access to your accounting software, assesses your current https://www.bookstime.com/ accounting environment, and makes recommendations to enable a seamless transition. Today, many innovative companies have concluded the benefits greatly outweigh the loss of a person in a seat in the office.

• Companies face a myriad of complex financial accounting and reporting challenges.
• There is a big difference between offering free advice and offering advisory services.
• Finally, advisory services allow you to build deeper relationships with your clients, truly becoming part of their team.
• Certain services may not be available to attest clients under the rules and regulations of public accounting.
• Supplement short- and long-term accounting talent resources within accounting teams, with Deloitte acting as a third-party service provider for management.
• You’ll get up-front analysis and planning that increases the likelihood of a smooth audit.

For firms that are willing to make the commitment, now is an opportune time to get started with CAS, Merhib said. “We’re seeing an increasingly complex business environment where clients of all sizes are now needing accounting advisory services to make decisions more quickly,” he said. “It’s a perfect opportunity for firms to take a proven business model, use those resources, and really start delivering on the strategic advisory role for clients.”

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Companies preparing for their first audit can struggle to grasp all that’s required. We’ll bring a holistic approach, employing leading practices and tools and an emphasis on flexibility and scalability. You’ll get up-front analysis and planning that increases the likelihood of a smooth audit. If you’re convinced that accounting advisory is the way to go but not sure if you have what it takes, I want to encourage you to start taking steps. You don’t need to have “arrived,” you just need to be moving forward and have something to offer your clients.

• These conversations can open up a dialogue and change the dynamic of the relationship—from feeling obligated to answer casual questions to a more formal transaction that supports your client and grows your firm.
• In today’s increasingly complex business landscape, you face a gauntlet of technical accounting, tax, and financial reporting issues.
• With the full suite of CPA firm resources to assist with tax and estate planning strategies, budgeting, forecasting, key performance indicator analysis, and much more, you’ll never be in the dark about a financial issue again.
• Because Marcum professionals are committed to developing relationships that will stand the test of time.
• The fitness studio owner I mentioned initially came to me for bookkeeping and taxes.
• Imagine finding a top-notch professional who excels in bookkeeping, offers strategic consulting, and navigates tax complexities, all for the cost of a beginner bookkeeper.
• As you and your staff gain a deeper understanding of the expertise your clients really need, you will become empowered to identify additional advisory opportunities along the way, like a niche in mergers and acquisitions advisory.

Though the prospect of starting what’s essentially a new business within your firm can seem daunting, the good news for firms thinking of adopting CAS is that others have paved the way. CAS is a mature enough area now that firms can draw upon the experiences of early adopters and take advantage of the resources organizations have developed to help them succeed. Here, CAS experts, and firms whose CAS divisions are already underway, share what firms should know before taking the CAS plunge. Marcum’s Tax & Business Services Group provides a comprehensive offering of tax advisory and regulatory compliance services as well as specialization in a variety of areas.

What are the responsibilities of an accounting advisor?

Businesses are demanding more from CFOs, CAOs, controllers, and their teams—requiring these professionals to be more agile and dynamic while remaining efficient. Add the need to attract and retain finance and accounting talent, and the strain can be immense. Through our deep technical accounting and reporting experience, our advisory services help companies meet today’s challenges. That said, CAS is an exciting area of accounting and one well worth pursuing.

• After becoming comfortable with outsourced accounting, firms often move on to what she terms “CAS 2.0,” or offering outsourced CFO services.
• Our services can assist with the implementation of new or amended accounting standards.
• Having a niche can also help firms focus their marketing efforts and choose the right software.
• Some accountants fear losing clients due to higher fees, but the reality is, clients are willing to pay a premium when they have a clear understanding of the scope of the engagement and the value being provided.
• The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over.

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