Business Finance Consulting Services & Firm
Every company needs a trusted business finance consultant to provide finance consulting services. For small and medium-sized companies, the needs may vary and include, but are not limited to, assistance with banking, financing, internal controls, risk management and financial planning from a CFO. Other finance consulting services include tax strategies, financial tips, regulatory compliance, etc. The main role of a CFO is to provide a strategy in order to assist the company in gaining a competitive advantage in the marketplace.
Benefits of Finance Consulting
Reduce Operating Costs
At TGG, we work in teams of 4 accountants meaning the accounting work is always done at the appropriate level in order to produce accurate and timely TGG Way financial statements. This means you’re not paying a CFO to do AR or AP, but instead offer strategic advice in order to move the business forward.
Drive Business Value
A finance consultant company can drive more profitability to your bottom line meaning your business increases in value. Our experienced accountants bring a wealth of knowledge and expertise around GAAP, accrual accounting as well as new accounting and tax law changes that your business can leverage to your benefit.
Generally accepted accounting principles (GAAP) mean that businesses are responsible for providing reports on their cash flows, profit-making operations, and overall financial conditions. This specifically relates to the income statement, balance sheet, and cash flow statement. TGG produces GAAP compliant financial statements to ensure that if the financial information is shared with outside investors, bankers or regulators, it is accurate, reliable and consistent.
Financial Consulting Services
A benchmark is a standard that the performance of a similar entity can be measured against. It is when financial services firms use financial analytics to assess market competitiveness. Effective benchmarks have industry relevance and share certain qualities to indicate comparable market share.
Financial forecasting is the reporting that surrounds future driven thinking for companies. A forecast is created more frequently than a budget and is based on real numbers compared against predicted numbers. Forecasting allows for purchases of raw materials for example, based on predicted demand for product.
Financial models are the mathematical algorithms created specifically for a company that helps tie different elements of forecasting, benchmarking, budgeting and cash flow management together to give a comprehensive picture of a company’s financial information. A financial model allows a company to change variables and see what those changes might do to P&L or supply chains before an event happens. A financial model is necessary to have a Plan B.