Succession Strategy 2:
Business Financial Analysis
The Business Financial Analysis is an interactive assessment tool
that focuses your attention on the areas of greatest leverage in
building your business. It is generated through a review of the
organization's financial and business management and internal control
environment. This assessment is typically conducted with the business
owner and senior management. We prepare a concise Letter of Recommendation
(LOR) for your business based upon your objectives. Implementing
the LOR will enable you to increase your profitability and cash
flow, accelerate your growth rate, and maximize the value of your
business.
This involves the following steps:
Interviews - We meet with you to conduct the assessment,
gather needed information and ascertain your goals and priorities.
Family members, key employees or other advisors may also be included
in the process.
Documentation - We gather information from a variety
of sources, including financial statements, business plans, tax
returns, partnership agreements, corporate by-laws, wills, trusts,
insurance policies, business agreements, etc. We review and summarize
the information into the Business Financial Analysis document.
This includes copies of your important business records and agreements
so that they are ready to access whenever you, your family or
your advisors may need them.
Letter of Recommendation - Based upon your responses,
and the business goals and objectives you have communicated to
us, we will prepare a Letter of Recommendation tailored to your
situation. We will review the LOR with you to ensure that it is
in alignment with your estate, succession, and business plans.
The LOR will include prioritized action steps designed to focus
your attention on the areas of greatest leverage for your business.
Implementation - The vital step is the implementation
of the Letter of Recommendation. We will provide you with an engagement
letter that outlines the projects and deliverables to fulfill
the LOR. Our professional staff can perform the accounting and
business consulting services needed to accomplish the recommended
projects.
The Business Financial Analysis provides a thorough review of the
current financial and organizational health of your business. The
result is a written and comprehensive summary and recommendation
that brings together all relevant organizational, financial, legal,
and tax information in one easy to use reference guide. It will
increase your profitability and cash flow, accelerate your growth
rate, and maximize the value of your business.
