In today’s economy one of the biggest challenges facing every company is maintaining a positive cash flow. Understanding your business’ cash flow and establishing a realistic budget are the best ways to avoid losses that may jeopardize your company’s financial stability.
At Hogg, Shain, & Scheck we understand the financial needs of companies large and small. Through our budget and cash flow analysis services we help businesses maintain their financial stability to meet today’s challenges and prepare for future growth. While the budget is the day to day guide to financial stability, we start with a comprehensive cash flow analysis to best understand your business’ needs and current operations. Through our analysis we:
Identify current cash flow statistics, including monthly revenues and expenses.
Project and estimate future expenditures such as retirement funding, taxation liabilities, and equipment replacement or other capitalization requirements.
Review inventory management systems and client/customer financing structures to determine their impact on expenses and receivables.
Define areas of weakness such as staffing or operational inefficiencies which may negatively impact company revenues.
Upon completion of the cash flow analysis, you will understand the financial strengths and challenges facing your company. We will provide you with the information and support you need to address any areas which can be corrected to improve the financial success of your business.
From the information gathered above, our professionals will create a comprehensive budget that will support the current and long term financial health of your company. The budget will include:
Structured details of all income and expense sources organized to reflect the operations of your company and meet your budgetary needs.
Fixed and variable expense itemization with parameters to identify trends which could negatively impact your company.
Tax liability projections and funding structures to ensure that you will meet these obligations in a timely manner.
Savings and investment strategies for effective management of long-term financial outlays and unexpected needs.
Line items or categories needed to personalize the budget and address any unique issues.
While a budget is a management powerful tool, it is only effective when it is utilized. Our advisors can educate key staff members to ensure that the budget becomes an integral part of your business operations. In addition, we can provide ongoing support and monitoring, either in a targeted area of specific concern or with the overall, itemized budget. This level of assistance allows us to quickly identify fluctuations in expenses or revenues so that you may respond to these changes in a timely and preventative manner.
Your financial success is our first priority. Our cash flow analysis and budget services provides you with the tools and structures necessary to address your company’s monthly needs while preparing for its long term growth and viability.
What our clients are saying
The latest from our Blog, News, and Events
We're social, let's connect. Sign up for our newsletter.
Candian Pension Plan Rules for Self-Employed and Small Business Owners If you’re a business owner or self-employed, you may wonder, “Do I have to pay CPP? “ That answer is yes. If your business’ net income is more than $3,500, you will have to start paying CPP at double the rate you would if you Read More
(Released April 21, 2020) Today, the Federal government finally provided details about the Canada Emergency Wage Subsidy. There have also been updates announced to some of the initiatives that have already taken effect. With that in mind, we wanted to provide the latest on the following economic response measures: Canada Emergency Wage Subsidy; Emergency Community Read More
(Released April 14, 2020) Update Eligibility Criteria for the Canada Emergency Wage Subsidy An eligible employer to receive the 75% CEWS benefit includes: • an individual; • a corporation (other than a tax-exempt corporation or public institution); • a registered charity (other than a public institution); • a person that is tax-exempt because of paragraph Read More
Purpose To the folks at the Department of Finance drafting the 10% Temporary Wage Subsidy (the “TWS”) legislation, 10% of remuneration paid retroactive to March 18, 2020 to June 19, 2020 (the “Subsidy Period”), up to $1,375/employee to a maximum of $25,000/employer, sounded straightforward. In reality, it left many employers confused more than anything. As Read More