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What
is Accountalent Management?
Accountalent
Management provides staffing and consulting services. As consultants,
we pride ourselves on providing practical solutions for back-office
needs. Employees of Accountalent Management have consulted to over
200 businesses in the Boston area in the last 20 years. Employees
of Accountalent Management include experienced CPAs, MBAs, accountants,
and bookkeepers.
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Does
Accountalent Management provide non-accounting services?
Accountalent Management provides other "back office" services such as Human Resources.
Accountalent Management also has a network of professionals who provide other
"back office" services on a consulting basis. Accountalent Management can
supervise these individuals on non-accounting projects and, if requested,
can employ these individuals and offer a fixed price or hourly arrangement
to our clients.
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I
am thinking about starting a business. Why do I need Accountalent Management?
Accountalent Management has consulted to many concept-stage companies. There
are many important decisions that need to be made with the help
of someone experienced with complex accounting, financing, business,
and tax issues. One example is the preparation of financial projections
to be included in the business plan. These projections are used
to formulate a financing strategy and, upon funding, a tax strategy
to minimize taxes. After funding, there are several other issues
that need to be immediately addressed such as selecting affordable
accounting software, establishing budgets, implementing policies,
procedures and authorizations, registering the business with the
appropriate local, state and federal agencies, establishing a month-end
closing schedule to ensure timely, accurate financial statements.
Accountalent Management has been involved with many concept-stage companies
that have grown into multi-million dollar companies.
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I
have just started a business. Why do I need Accountalent Management?
Congratulations! There are now several issues that need to be discussed
and actions taken. Some examples are the type of accounting software
to be purchased and implemented (we always emphasize keeping this
expense to a minimum, as most low end packages now offer much of
the same functionality as the expensive, industry specific packages),
the policies and procedures (who can buy what and how much can they
spend), accounting policies (how and when do you recognize revenue),
establishing a month-end closing schedule to ensure timely, accurate
financial statements, compensation strategies (including stock options,
restricted stock, employee benefits), establishing a filing system
(believe us, this is extremely important and a good, neat, organized
filing system saves much time and many headaches in the future),
local, state and federal filings (Secretary of State, Sales and
Use Tax, nexus issues, DOL filings), employee benefits. Accountalent
Management consultants are experts in all of these issues and can
provide you with efficient, affordable answers and solutions.
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I
already have a bookkeeper. Why do I need Accountalent Management?
Most
bookkeepers do a great job. Remember though, they usually do not
have the experience to address many of the complex issues that face
small businesses today. Many of these issues do not surface until
they become a problem. These issues, and there are many, will inevitably
"rear their ugly head" at the most inopportune time, if ignored,
or are not properly addressed. Bookkeepers record transactions,
but often do not know the full implication of the transactions for
financial statement and tax purposes. Also, many business owners
do not have the background to properly train and supervise a bookkeeper.
Bookkeepers can make bad decisions if there is no one to answer
complex financial questions. We pride ourselves on building trust
and rapport with our client’s staff and we are always reachable
by phone. We strongly encourage them to contact us with questions
or issues at any time. We offer part-time, temporary, temp-to-perm
bookkeeping services.
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I
already have an accounting staff. Why do I need Accountalent Management?
Most
accounting staff employees have limited work experience. They perhaps
have worked at two or three other companies where they reported
to a more senior accountant. They may now be reporting to the business
owner who has a background in general business, engineering or sales
– probably not finance or accounting. There may be many areas
where these staff accountants do not have experience and need guidance.
Accountalent Management can provide this guidance and management. This enables
the staff accountant to grow and to gain the experience to properly
address these issues. Eventually, the staff accountant can be promoted
to Controller or CFO and then becomes a more valuable and dedicated
employee. At that time, the talents of Accountalent Management may not be
needed. This is a win-win situation. It is a win for Accountalent Management
because we were successful in our mission, which is to help our
clients grow, and a win for you because you now have an accounting
staff that can bring you to the next level.
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My
accounting staff is not efficient. Why do I need Accountalent Management?
Assuming
you spent much time and money to hire an accounting staff and at
one time this staff was probably very efficient and responsive but
perhaps due to a changing business environment, or a change of management,
they have lost their edge. There is probably no need to fire the
staff and hire a new one. Our experience with over 200 clients in
the last 20 years allows us to quickly evaluate your staff and make
and present to you specific, concrete recommendations to improve
the accounting staff’s efficiency. You can then implement these
recommendations using your staff, Accountalent Management, or any other consultant.
There is no commitment to use Accountalent Management to implement these
recommendations.
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I
just downsized and fired my accounting staff. Why do I need Accountalent Management?
Although
your business size has reduced in terms of sales and number of employees,
there are still bills to pay, payrolls to process, financial statements
to prepare, bankers and investors to satisfy, business plans and
projections to be updated, new sources of capital to be sought,
analyses of costs to be completed, cash flows analyses to be prepared,
etc. The need for timely, accurate, professional and, perhaps most
importantly, affordable accounting and finance information is now
more important than ever. The presence of a financial professional
is also critical to keep the confidence of investors and bankers
during these uncertain times. Accountalent Management can perform the routine
accounting and bookkeeping functions and provide the higher-level
(CFO and Controllership) assistance that is critically needed during
these times. Accountalent Management will work with you to ensure that all
of your needs are addressed in a timely and affordable manner.
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Is
there a minimum commitment required to use Accountalent Management?
No.
We are committed to meet your needs. Our experience has taught us
that every client is different and there is no "one size fits all"
solution. We know that every company has a different culture and
every CEO a different management style. We pride ourselves on being
very flexible. We believe strongly in giving clients the flexibility
to use Accountalent Management as much or as little as they feel comfortable
and justified. We have clients who use us several days a week and
other clients who use us a couple of times a year. Our commitment
to serve these different clients is the same. We will always offer
clients a fixed price, or hourly arrangement and give them the flexibility
to switch from one arrangement to the other at any time.
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Does
Accountalent Management replace my auditor?
No.
Your auditor is an independent, outside accountant that delivers
audited or reviewed financial statements and is very important to
the success of your business. Accountalent Management represents you and
your business and should be considered your inside accountant.
Accountalent Management works very closely with your auditor to ensure the
audit process is efficient and affordable by preparing detailed
and accurate workpapers for the auditors, attending to their many
requests for information, answering questions, explaining and justifying
the accounting policies, reviewing proposed adjustments to the financial
statements, helping to prepare the footnotes and reviewing the auditor’s
opinion. Accountalent Management has worked with all of the Big Four, most
of the national and regional and several of the local CPA firms.
We have an excellent working relationship with all of them. Accountalent Management is often referred to clients from these firms to ensure
the accounting department is properly staffed and management is
receiving timely and accurate financial information.
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Will
Accountalent Management do my taxes?
Accountalent Management believes that the audit firm should prepare your taxes.
They have the expertise in the preparation and the filing of tax
returns. Accountalent Management is very involved and experienced in advising
clients on a tax strategy that will both minimize taxes and be compliant.
This strategy is best done jointly with those responsible for preparing
your tax return. In situations where there is not an audit firm,
Accountalent Management can refer someone who will affordably and accurately
prepare the tax return.
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How
much does Accountalent Management cost?
The cost is dependent on many factors, such as the number of hours
involved, the function to be staffed, the project to be completed,
the support staff available, the complexity of the situation, the
risks involved, etc. Accountalent Management always ensures that
the scope and the timing of the assignment are clearly defined and
a budget established. Accountalent Management always offers an hourly
or a fixed price arrangement. We feel strongly that our advice,
experience and work ethic will result in savings and efficiencies
that greatly exceed the fee paid to Accountalent Management.
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