Audits - Reviews - Compilations
Marketplaces change, and the rate of change in today’s world is staggering. Companies, who view the value of things by how they appear in the rear view mirror, significantly discount their ability to gain a competitive advantage. Auditing, to many businessmen, is a tedious, laborious exercise that has little dynamic value in a changing marketplace. Nothing could be farther from the truth.
Success in business is based upon making the right decisions at the right time. Timely and accurate information about all aspects of business and financial processes are two of the three prerequisites to effective decision-making. The third is confidence, and confidence can only be attained when the decision maker is well informed. With this confidence, business decisions will be made that will increase the efficiency of the business, resulting in overall business growth and the creation of personal wealth.
Getting this understanding right in a complex marketplace and a burdensome regulatory environment is only half the battle. Your control of your business and financial processes must be clearly and credibly communicated to a wide range of audiences – customers, prospective customers, suppliers, banks and bonding companies. Personal confidence and the public perception of confidence give any privately held business a real competitive advantage.
This is what Audit and Assurance is all about in today’s marketplace. But like many business owners, many accountants and CPAs are also stuck looking through the rear view mirror. To take advantage of Audit and Assurance as a tool to gain competitive advantage, you need more than an ordinary accountant–you need a Strategic Accounting Advisor.
At JHS CPAs, LLP, we help you control the uncertainty that can surface in the minds of lenders, bonding agents and customers through the non-strategic presentation of financial information.
Your success is based on controlling all aspects of your business from planning and design, estimating, aligning materials and human resources to get the job done and consistent oversight to make sure nothing goes wrong. If any one of these factors is overlooked or shortchanged, your business and your reputation are at risk.
Privately held businesses tend not to translate this perspective to the back office. Consequently, business and financial processes are not as well planned and developed as those delivering your product or service. This puts the future success of the company in jeopardy. Just as your product, a commercial building, a mall, a highway, or a landscaped commercial park is a public testimony to your company’s ability, the financial statement is the public testimony of your financial stability and risk profile to those who make decisions to lend you money, give you performance bonds or award contracts.
To ensure your company is in the best possible position to take advantage of emerging marketplace opportunities, you need an accounting resource that is:
- Most knowledgeable about all aspects of the construction business
- Most familiar with the financial issues facing privately owned business
- Most effective in situational risk assessments
- Most experienced in strategic planning for privately held companies in all aspects of the construction industry