Assistance in bank and SBA financing
In today’s economy, banks and lending institutions have fewer funds available to loan to businesses. It is imperative that you present historical and projected financial reports to your lender so that your company gets the best possible chance to receive loan funds. Ragland & Cochran CPAS can assist you in compiling the information needed by the lending institutions to give you the best opportunity to receive the loan that you need to fund the growth of your business.
We have worked with numerous local and national banks and we know what bankers are willing to work with small businesses.
Perhaps the most important decision in business is the entity type. At Ragland & Cochran CPAS we can help you make an educated decision about how to structure your new company or change your current company’s entity type to take full advantage of the ever-changing tax laws. Whether you plan to be an LLC, a traditional partnership or a corporation, we can discuss how your decision will affect your future tax liabilities and what items can be deducted as business expenses.
Assistance with worker’s compensation audits
We can help in completing your worker’s compensation audit forms. Proper completion of these forms will allow your insurance company to determine your current year premium. If the returns are not completed properly, you could be paying more for your insurance than necessary.
Budgeting, developing and monitoring an annual budget is a key component to a company’s success. Let us help you navigate through this difficult process to avoid overlooking or underestimating expenses. Development of a break-even analysis allows you to decide where to cut back and what funds are available for future growth. Monitoring the results of your actual operations to your budget and identifying needed modifications quickly are crucial in these tough economic times.
Development of Business Plan
Making a decision to start a new business is the first step. Developing a plan that shows how you get from ground zero to where you want to go isn’t as easy as you might think. Success doesn’t just happen. Careful thought regarding business location, finances, personnel, equipment needs and funding all affect your ability to be profitable. Our staff can work with you to develop an overall business plan. From the smallest detail to the overall direction of your company, we can offer suggestions and develop reports to help you make the best decisions.
Evaluation of internal control procedures
Establishment and monitoring of internal control procedures in your company can help alleviate the opportunity for fraud or embezzlement losses. Many small companies have a limited accounting staff and outsourcing some accounting functions can help you reduce the risks of employee theft. Even the smallest of businesses can implement procedures to afford some separation of duties. Ragland & Ballard, CPAS can teach you how to look for signs of fraud and to identify what behaviors might indicate that a problem exists. We can work with you and your staff to develop procedures for your individual situation.
Personnel hiring and performance evaluation
Many companies find it difficult to hire for their accounting department personnel and look towards a professional accountant for assistance. Ragland & cochran CPAS has experience in weeding through resumes, keying in on the best potential candidates and assisting with interviews to enable you to select a candidate that is right for you.
We have worked with our clients in their performance evaluation of current personnel and assisted in the development of bonus and incentive packages to reward and retain your key people.