The Best Financial Tool For
What if there were a tool that helped
you create crystal-clear plans, provided you with continual
feedback about how well your plan was working, and that told
you exactly what's working and what isn't?
Well, there is such a tool. It's
called the Budget vs. Actual Report and it's exactly what you
need to be able to consistently make smart business decisions
to keep your business on track for success.
CLARIFYING YOUR PLAN
The clearer you are about your business goals, the more likely
you are to achieve them. Creating a budget forces you to
examine the details of your goals, as well as how even a
single business decision affects all other aspects of your
Example: Let's say that you want
to grow your sales by 15 percent this year.
Does that mean you need to hire another salesperson?
When will the business start to see new sales from this
person? Do you need to set up an office for them? New
phone line? Buy them a computer? Do you need to do more
advertising? How much more will you spend? When will you
see the return on your advertising expenditure?
NAVIGATING THE SHIP
Once you clarify your goals, then you start making business
decisions to help you reach your desired outcome. Some of
those decisions will be great and give you better than
expected results, but others might not.
This is when the Budget vs. Actual Report becomes an effective
management tool. When you compare your budgeted sales and
expenses to your actual results, you see exactly how far off
you might be with regard to your budget, goals, and plans.
Sometimes you need to adjust your plan (budget) and sometimes
you need to focus more attention to areas of your business
that are not performing as well as you planned. Either way,
you are gleaning valuable insights into your business.
It's like sailing a boat. You may be off-course most of the
time, but having a clear goal and making many adjustments
helps you reach your destination.
DID YOU KNOW
that Sullivan & Company manages Pension Funds,
Retirement Plans & Taxable Accounts through Archer
Investment Corporation & Fidelity Investments for our
Fidelity is the custodian for more
retirement plans than any other custodian in the United
Let Sullivan & Company Analyze Your Asset Allocation
& Risk Tolerance for FREE!
JUST DO IT
We often know what we need to do but don't take the necessary
action. It may seem like a huge hassle to create a budget and
then create a Budget vs. Actual Report every month, but as
with any new skill, it does get easier.
Turn your dreams into reality. Give the office a call and let
a tax and accounting professional guide you through the
If you have any questions about the tax treatment of mutual
funds, don't hesitate to call the office if you would like more information
about tax planning strategies this year. Help is just a phone call away at
Financial Services at Sullivan & Co. CPAs
Sullivan leads our Financial Services
Division and is here to help you navigate your
financial future. As an Investment Advisor Representative,
he is able to provide an independent opinion on the
investments you already own or are considering buying.
We can structure a portfolio
based on your risk tolerance or we can help you decide how
to invest in your company 401(k) plan. We work with each
client to identify their concerns and to provide solutions
according to their situation.
is also experienced in company retirement plans. If you own
a business that does not have a plan; we can discuss your
options and set up a plan that fits your company.
If your business already has a
plan; we offer a free evaluation of the plan to ensure that
it is up to date and working well for you and your
Our goal is to provide personal, unbiased and independent
advice to help you make well-informed decisions about your
financial life and investments.
Contact Paul Sullivan or Jordana Para to set up a free
initial consultation (301) 657-8080.
And as always if you have any questions about accounting or
investments and how they effect you or your business, please
give us a call. We can help guide you in the right
you can call our offices if you have any questions about these
or any other accounting, tax, financial planning or insurance
related issues, at 301-657-8080.
Regards, Paul Sullivan, CPA
President, Sullivan & Company