Q&A Accounting RoundtableAccounting Roundtable Supplement: Advertorial Friday, January 20, 2012
Elsa Romero, AKT LLP
Our mission at AKT is to help our clients achieve their goals and is our fundamental driver for serving our clients. In working with our clients we continually provide additional value-added services in addition to the traditional compliance services. The value-added services vary as they are a function of the niche or industry of our clients. We can give you several examples: Our Construction Niche advisors have worked with their clients to help them with claiming credits specific to their operating structure which have in turn provided the clients with tax savings and increased operating cash flows. In the Nonprofit Services area, we have worked with several of our organizations to help them create internal practices that have allowed them to work with reduced staff. We have consulted with many of our family owned and/or small business clients to help them structure their financing needs and other strategic cash flow planning ideas.
Harvey J. Schroeder, White Nelson Diehl Evans LLP
In this slowing economy our clients are looking to reduce costs where they can and one way is by outsourcing some of their accounting needs. We have worked with our clients and provided services ranging from accounting to controllership duties. This allows our clients to reduce staffing levels that are not needed because of the economic slowdown but at the same time continue to receive the timely advice and accounting information needed to make decisions. We have also been engaged by our clients to assist with expense analysis, budgeting and projections, and to review their internal controls, information technology systems and other processes and methodologies. This has enabled us to recommend cost-saving options while improving efficiencies and their processes at the same time.
Wade McKnight, J.H. Cohn LLP
J.H. Cohn continues to add value to clients’ businesses by understanding their industries and their operations. We stay vigilant to bring ideas to the table that, in turn, bring improvement. Looking beyond traditional accounting services, we have focused on ancillary services that can help clients manage costs, such as insurance risk management and benefits consulting. Unique among accounting firms in the U.S., we have a director of economic research, Patrick O’Keefe, who helps clients understand the economic data that help shape their business plans.
We have emphasized a measured, “back to basics” approach to business and work with our clients to help them leverage capital from traditional third parties, such as banks, which are a middle market companies’ lifeblood. We have also, through our Private Equity and Venture Capital Services Group, worked diligently to assist our clients in accessing alternative sources of capital for a variety of strategic needs. Because it’s an area we’re actively engaged in, we are able to make recommendations and introductions with very positive outcomes.