Financial Management
Our financial management services focus on the performance and financial health aspects of a business. We provide a couple of different financial management services, each of which plays an integral part in making sure that you are aware of your business’s financial health. Being backed by a team of seasoned industry experts means that you are briefed when needed on your business’s current financial health with future strategies and forecasts.
5 Ways Financial Management Can Help Your Business Thrive
Cash Flow Analysis
A business’s cash flow analysis gives you an in-depth look at the different inflows of cash into the company, in addition to the outflow of cash, during any given period. The flow of money is identified in the context of various operating, financing, and investing activities. Our cash flow analysis provides business owners with a straightforward, segmented, and contextual outlook, which could play a significant part in making crucial business decisions.
Budgeting
Our budgeting service helps provide businesses with a benchmark for evaluating their performance compared to their objectives and financial goals. Professional budgeting, the type we offer at Joey Friedman CPA PA, helps companies allocate the financial resources they need between various operating groups. It can also become an effective communication tool to express the objectives and financial goals of an organization. Clear budgeting also helps to align the spending of a business with its priorities.
Forecasts
Our in-depth financial forecasts give your business access to cohesive and uniform reports, which allows you to establish clear business goals that are feasible and realistic. You also gain valuable insights into how well your business performed in the past and use that to forecast the future.
Cost Accounting Services
Our cost accounting staff and partners have years of experience and various analytic tools at their disposal to help in determining the costs associated with manufacturing a product or providing a service as well as analyzing the supply chain. We will measure and record the costs of shipping, labor, administration, and production across a unit and function to help you understand the actual costs of delivering goods and services.
We can also help you budget, plan, and monitor performance, in addition to identifying cost-saving opportunities from years of industry experience and your current business practices.
Break Even Analysis
Our highly accurate break-even analysis helps identify your business’s survival point. We use various methods to accurately measure profit and loss at different sales and production levels to predict the effects of price alterations.
Our team will also measure your business’s present relationships between variable and fixed costs to help predict the impact of various efficiency measures and expenses on the bottom-line.
Joey N. Friedman, CPA, ABV, M.Acc, MIB
Financial Management Services
At Joey Friedman, we provide customized bookkeeping services that manage all aspects, including general ledgers, insurance reports, and payroll records.
Joey Friedman is well-known as a leader in his field for his knowledge, expertise and professionalism. Through a broad range of academic and real-life experience, Mr. Friedman can provide the guidance needed in a wide variety of business-related services. His ability to see each case from a variety of angles and identify the issues or inconsistencies that may need further investigation and inquiry, has made him an authority in the field. His strategic and tactical leadership has made his many businesses a benchmark for success in each of their respective industries.
FAQ
Financial management involves the strategic planning, controlling, and monitoring of your business’s financial resources. It includes budgeting, cash flow management, financial analysis, and risk assessment. It is essential for your business as it helps you make informed decisions, achieve financial goals, and ensure long-term sustainability and growth.
Financial management services offer numerous benefits. They provide you with expert insights and analysis of your financial data, enabling you to optimize your budget, manage cash flow efficiently, and mitigate financial risks. With professional guidance, you can navigate complex financial challenges and capitalize on opportunities for business expansion.
Absolutely! In fact, financial management services are crucial for small businesses and startups. Effective financial planning from the outset can set a solid foundation for growth, helping you avoid common financial pitfalls and make well-informed decisions that propel your business forward.
Financial management services include in-depth budget analysis, where experts examine your income and expenses to create a well-structured budget. This helps you allocate resources effectively, prioritize investments, and identify potential cost savings, leading to improved financial efficiency.
Yes, financial management services focus on optimizing cash flow to ensure your business has the necessary funds to operate smoothly. By analyzing your cash flow patterns, experts can identify areas for improvement, such as reducing payment cycles or managing inventory more efficiently.
Financial management services conduct risk assessments to identify potential financial hazards and vulnerabilities in your business. They help you implement strategies to mitigate these risks, safeguarding your financial stability and protecting your business from unforeseen challenges.
If you find it challenging to keep track of your finances, struggle with budgeting, need assistance in financial decision-making, or want to enhance your business’s financial performance, then professional financial management services are the ideal solution.