Ensuring Financial Success
for Your Business
Can you point your company in the direction of financial
success, step on the gas, and then sit back and wait to arrive
at your destination?
Not quite. You can't let your
business run on autopilot and expect good results.
Any business owner knows you
need to make numerous adjustments along the way - decisions
about pricing, hiring, investments, and so on.
So, how do you handle the array of questions facing you?
One way is
through cost accounting.
Cost Accounting Helps You Make
Cost accounting reports and determines the various costs
associated with running your business. With cost accounting,
you track the cost of all your business functions - raw
materials, labor, inventory, and overhead, among others.
Cost accounting differs from financial accounting because it's
only used internally, for decision making. Because financial
accounting is employed to produce financial statements for
external stakeholders, such as stockholders and the media, it
must comply with generally accepted accounting principles (GAAP).
Cost accounting does not.
Cost accounting allows you to understand the following:
behavior. For example, will the costs increase or
stay the same if production of your product goes up?
prices for your goods or services. Once you
understand cost behavior, you can tweak your pricing based on
the current market.
You can't create an effective budget if you don't know the
real costs of the line items.
Is It Hard?
To monitor your company's costs with this method, you need to
pay attention to the two types of costs in any business:
fixed and variable.
Fixed costs don't fluctuate with changes in production
or sales. They include:
- dues and subscriptions
- equipment leases
- payments on loans
- management salaries
Variable costs DO change
with variations in production and sales. Variable costs
- raw materials
- hourly wages and commissions
- office supplies
- packaging, mailing, and shipping costs
Tip: Cost accounting is
easier for smaller, less complicated businesses. The
more complex your business model, the harder it becomes
to assign proper values to all the facets of your
If you'd like to understand the ins and outs of your business
better and create sound guidance for internal decision making,
consider setting up a cost accounting system.
Please call if you need assistance setting up cost accounting
and inventory systems, preparing budgets, cash flow management
or any other matter related to ensuring the financial success
of your business.
These are just a few of the ways Cost Accounting can help you
in 2017. Please
contact the office for assistance with implementing these and
other planning strategies that might be suitable to
your particular situation. Help is just a phone call away at
SMEED CPA Adds Financial
Services To Help Clients With
Investments & Insurance
often we here at SMEED CPA are asked about financial issues
that impact our clients investments and their portfolios.
We always offered our opinion and suggestions but in order to
help our clients actually execute the changes we suggest,
SMEED has created a Financial Services division.
SMEED Financial Services, Inc. will be able to
work with both individual and business clients on their
investment portfolios and manage assets on their behalf.
SMEED Financial will include Michael Uadiale,
ACA, CPA, CGMA; and Pablo Blanco who has
recently joined SMEED and comes with over 18 years of
financial sales and advising experience with affluent
Watch your inbox and mail boxes for more specific information
on services SMEED Financial Services, Inc will make available
Would You Give Me Your
Feedback & Testimonial
on Our Hotline?
Hello it’s Michael Uadiale, CPA of
SMEED CPA Inc. We’ve just installed a toll-free
number that I would like for you to call and tell me how you
think we are doing as your CPA firm.
Just dial 800-609-9006
extension 3638 and follow the instructions. If we’ve
done a good job please let me know. And if we can
improve on anything, please mention that too.
Us Be Found on
Also as we expand our business,
we find more and more people are using
YELP and Google
to look for us by searching Brentwood accountant or
When they do this we want to
be FOUND on GOOGLE. One way you can help us
is to give us an
ONLINE REVIEW on our Google Maps/Places listing --->
or check us out at our YELP local listing
click here to go to our Google Listing for SMEED CPA and
click on the
YELP link to go there.
Scroll down to the Review area.
On either site it may say: Been here?
Rate and review
You will click on the Rate and
review link and then log in, then
give us a review!
You can choose between 1 and 5
STARS and write in what you think about the tax or accounting
work we have done for you.
It's that simple. Thank
you in advance for your help and cooperation!
As always you can call our offices if you have any
questions about these or any other accounting related issues, at
Regards, Michael Uadiale, CPA,
Managing Partner, SMEED CPA,