Advisory Management Practice (AMP)
There are several financial reports that will provide awareness into the past and present status and results. The purpose of the advisory management practice (AMP) is to help the business owner understand the critical components of the various reports that are generated from the activities within the business.
As a business owner, it is critical to have frequent reviews of the monthly, quarterly, and annual reports. The knowledge gathered from the data will allow you to more effectively run your business, enable you to analyze operations, and help guide business decisions.
The advisory management practice (AMP) covers trend analysis, performance evaluation, accounting discrepancies, and strategic decision-making techniques to ensure the continuous operation of the business.
Advisory management practice (AMP) can help with a variety of different methods and resources to guide the owner with understanding the data on the financial statements.
Here is a short list of options we offer to help the business owner.
• Compare three or more years of statements to identify trends analysis and help owners forecast future operation activity.
• Compare multiple years of statements to allow stakeholders the opportunity to determine if the performance is improving or getting worse.
• Compare ratios and percentages to help identify inconsistencies not related to the actual operating activity. Fluctuations in account balances are to be expected but extreme variances are an indicator that specific accounts require further analysis to determine the root of the cause of the change.
• Help to estimate future cash flow, which will assist with budgeting and forecasting tools to help with critical decision-making processes.
• Prepare financial reports that aid the owners in making the decisions that will ultimately guide the business growth.
• Analyze cost of goods sold (COGS), product pricing, vendor pricing, and inventory control.
•On-site audit of employee files and accounting document storage.
The holistic approach of the advisory management practice (AMP) is to assist the business owner to reduce expenses and increase revenues and profitability. We will consistently provide you with timely and accurate financials and reports on a monthly, quarterly, and annual basis, along with the actionable financial analysis you need to effectively run your business, analyze operations, and guide business decisions. Developing a multiyear plan growth into the future will help your business succeed.
At RMH Tax & Financial Advisors, Inc., we've been serving the needs of Plymouth, MN and the surrounding areas for years. If you need help managing any aspect of your home or business's finances, we want to hear from you.
Please fill out this form and let us know how we can be of service. We will happily offer you a FREE initial consultation to determine how we can best serve you.
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