Accounting for Life is a podcast provided by Bell & Company, a public accounting firm located in North Little Rock, AR. Our goal is to provide listeners practical advice regarding your business and personal finances while sharing the latest in generally accepted accounting principles. We also encour…
In this episode, we review the importance of business valuations and accounting reporting variances that can create the need for professional support when comparing the value of private companies to those that are publicly traded.
Creating a strategy for long-term success requires intense analysis. Forecasting is an accounting technique that uses data to make estimates about the future and they are commonly used for budgets (projected revenues, costs, and expenses) by estimating future demand for products or services, including variations in demand caused by seasonal shifts or changes in the economy. By comparison, a projection presents one or more hypothetical courses of action that a business might follow and is usually prepared for a restricted or specific party. Bell & Company provides expert accounting and business advisory services that can help business owners review and analyze data to better forecast business trends and support the development of projections to help guide the direction of a company.
Becoming a trusted advisor to business owners is about growing beyond the expertise of technical knowledge associated with accounting work to applying experienced wisdom that assists clients in achieving their long-term success across various businesses and personal ventures. For individuals and small business owners, as you begin to measure the direction and growth of your business, there may be times you need to assess the true value of your CPA (or firm) and ask yourself these important questions.
The most common financial statements are…the balance sheet, income statement, cash-flow statement, and the statement of shareholder’s equity. Financial statements provide many benefits as they provide a snapshot of the long-term health and growth of a company and each has a unique role to play in measuring performance, financial position, and cash flows of a business and should be reviewed by owners, lenders, creditors and management in the evaluation a company’s financial position and creditworthiness.
You can get significant tax savings with proper planning. In fact, a meeting with your CPA, on a cyclical basis can assist you in preparing a tax strategy that helps you plan for both short term and long-term success. You don’t want to spend more money on things you don’t need just to save a few dollars on your tax bill. That’s not smart tax planning. Instead, this is about strategically accelerating or delaying specific purchases you’re already planning to make. Or seeing if a new tax strategy puts money back in your wallet. Everyone’s situation is unique, so it’s important to schedule a meeting with your tax professional on a regular basis and see how your performance is meeting with your goals.
The last installment in our Careers in Accounting Series addresses various factors we must face as individuals in determining a work-life balance for ourselves; plus, the commitment from a Human Resources perspective to address the issue at the organizational level. Special Guest: Bobbi Britton, Human resources Director, Bell & Company.
According to firm management consultant Marc Rosenberg, 80% of first generation firms never make it to the second. Why? They have non-existent or ineffective succession plans. What’s the one key element to a great succession plan? Effective practice management. In this episode, Bell & Company CEO and Founder, Richard Bell, discusses the decision to start his own firm and current strategies taken by the firm to prepare for a succession transition and further growth of the firm.
In this episode, we will present the first of two segments where I interview Bell & Company CEO and Founder, Richard Bell. We will discuss succession planning and review his early career development and some of the events in his career that led to the decision to begin his own public accounting practice.
In this episode,we discuss some tips to help advance your accounting career; plus, interview Bell & Company shareholder, Kelly Phillips, CPA. Kelly joined the firm in 2009 and is responsible for client service, reviewing tax returns, managing staff workloads, and tax research. She is a charitable organization specialist who believes in good customer service and enthusiasm for the work she does. She works with all types of clients and is a frequent speaker to organizations about taxes for their particular industry.
This episode focuses on practical steps to create opportunities for yourself as you transition from your accounting education in school into the workplace. Direct recruitment, job listings, networking groups are all good sources to develop leads and the resume and interview process are also important items to consider as you complete your transition into becoming a professional accountant.