 "KCG offers us personal service on a timely basis, answers our accounting and tax questions, and offers advice. I love their service and professional attitude. I wish we had them as our CPA for the last 30 years!" ~Paul Eagle Golden Eagle Extrusions, Inc Golden Eagle Films, Ltd Golden Eagle Realty, LLC "We chose Kirsch CPA Group because of its reputation, and we have found that they are excellent in all ways! The team we work with is always friendly and very professional at all times." ~Jim & Opal Wespiser Success Stories "Case Study #1 : Accounting Services Case-Study The Challenge — A California-based company purchased an Ohio-based company to complement their product and service offerings. After the acquisition was completed, the CEO of the parent company stayed in Ohio for approximately two months to assist with the transition. After that, the CEO went back to California, leaving local management in charge of the Ohio operations. The owners became absentee owners who were not involved in the day-to-day operations. This caused them concern given their lack of daily oversight. The Solution — The CEO of the parent company met with KCG, and together we developed a service plan. On a quarterly basis, we ensure that certain internal policies and procedures are being followed such as:
By having KCG perform these procedures, the owners have peace of mind knowing that internal controls and procedures are being followed by local management. Because of our involvement, they also have confidence in the monthly operating reports that local management sends them. The Company Today — The Ohio operations continue to grow steadily and the owner knows that even though they are located across the country, they can rely on KCG to ensure the information they receive is accurate, and the policies and procedures they initially put into place are actually being followed by local staff and management. In addition, local management knows they have a resource in KCG to help them with any issues arise." ~ An internet-based software company "Case Study #2 : An Audit Case Study The Challenge — KCG was engaged to perform an audit of the Organization. The Organization had never been audited before despite a long existence. When we asked to see the Organization’s accounting records, we were provided with numerous excel spreadsheets. We determined that even though the Organization had grown steadily and evolved over the past 40 years, their accounting records and internal procedures had not. The Solution — We worked with the bookkeeper to consolidate all of their spreadsheets to create a complete general ledger for the year so that we could complete the audit - but we didn’t stop there. As we do with every audit, we provided a letter to the Board of Trustees outlining our recommendations for improvements to internal controls and operations. We recommended they implement an accounting system, which we helped them accomplish and tailor to meet their needs. Just a few of our other findings and recommendations were:
The Company Today — The Company today is thriving. The only difference is that now they actually know they are thriving, as they have financial reports to prove it. KCG not only set up certain reports for management to review on a regular basis, but we spent time with management and the volunteer treasurer to explain the purpose of each report. Whenever an issue arises, they turn to KCG as a trusted advisor and business partner. Their accounting records and internal controls are now appropriate for the size of their Organization." ~ A non-profit membership organization "Case Study #3 : Outsourced Accounting & CFO Case Study The Challenge - 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 KCG 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. The Solution - Prior to the acquisition, the company did not have current up-to-date financial records and did not have a system in place to track operating results. Our team members developed and implemented a service plan that would keep their records current and measure profitability three different ways – by project, service and location. By utilizing job and class tracking capabilities built into QuickBooks, we were able to provide management with information that allowed them to analyze results in a meaningful way. This analysis allowed management to determine that a service offering that required a great deal of management oversight and financial resources 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 struggling service offering. The Company Today - 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." ~ A Service Business "Case Study #4: QuickBooks Case Study The Challenge — We had an initial meeting with a new small business client. During that meeting, we asked some preliminary questions regarding their current bookkeeping situation. We learned that the office manager who is responsible for the bookkeeping function was maintaining three different software packages:
The Solution — While this seemed odd given the client’s small size and straightforward operations, we gathered information to determine whether there were any benefits to the current set-up. We familiarized ourselves with the payroll and sales invoicing/accounts receivable software packages (we already have an extensive knowledge and use of QuickBooks). We then spent more time gathering additional information from the office manager. We concluded that the use of three different systems had no operational benefits whatsoever. In fact, the use of three different systems was causing confusion, errors and inefficiencies as a certain amount of duplication was occurring. Initially, the office manager not overly receptive to change (they had run the same three systems for years since “that’s way we’ve always done it”). However, once we outlined the significant benefits, they were ready to make a change. One of our QuickBooks Pro Advisors worked with the office manager to move the payroll and invoicing/account receivable functions over to QuickBooks. With our guidance and initial training, the client now uses one piece of software for all of their accounting needs and estimates that she saves approximately 8 hours per month. The Company Today — We could have let the client continue in her comfort zone and not made our recommendation to consolidate their accounting records. After all, that’s what their previous accountant did. But we do not operate that way. If we see areas for improvement or efficiency gains, we will discuss them with you. This client is very thankful for our proactivity. She now has extra time each month to spend with her family. " ~ A Service Business
|
