2 examples of firms making the change…
Business Advisory Services Update
Medium-Sized Accounting Firm - 40 team members
Directors and senior managers each have a Business Advisory Speciality:
- facilitating strategic planning
- government grants
- predictive accounting reports – budgets, KPI analysis, cash flow forecasts, projected balance sheets
- research and development projects
- business plans
- capital raising preparation
- succession planning
- setting charge out rates for tradies, professional firms
- setting product mix/markup strategies for retailers to earn targeted profit
- corporate governance
- knowing the business “an inch wide and a mile deep
- 52-week-of-the-year accounting system
- board of advice
Senior leadership team members recommend specialist colleagues to their selected receptive clients, offering annual fee no lower than $5,000. All clients are offered external CFO services.
Solo Practitioner Firm - four (4) team members
Director offering external CFO services to selected clients:
- strategic planning
- predictive accounting reports – budgets, KPI analysis, cash flow forecast, projected balance sheets
- monthly financial accounts with comparison to budget
- monthly financial report
- board of advice monthly meeting
New clients are subject to rigorous client selection criteria based on receptivity to external CFO services and ability to pay fees.
ESS BIZTOOLS has developed a wide range services to assist accountants who are wishing to implement a range of Business Advisory Services.
Want to know more? Andrew Geddes discussed these matters in the recent episode of ESS BIZTOOLS Business Advisory Services Podcast. A snippet discussing this particular are is featured in today’s video.
ESS BIZTOOLS is offering an outstanding package with a special new financial year incentive, to assist small accounting/bookkeeping firms to get started delivering advisory services. Click here to find out more about our Starter Package and to subscribe.
If you are not a small accounting firm and already have some experience in offering advisory services, click here to find out more about our special new financial year offer on Advanced Package.
