1 / 33

More than Accounting... What Your Future May Hold

More than Accounting... What Your Future May Hold. By Mike Wardley, CPA and Greg Toman, CPA/ABV. More Than Accounting . . . CPA Firm Opportunities. Changing Marketplace Auditing and Taxes Consulting Areas Advice and Planning Services. Mike Wardley, CPA Creative Profit Advisor.

gerik
Download Presentation

More than Accounting... What Your Future May Hold

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. More than Accounting...What Your Future May Hold By Mike Wardley, CPA and Greg Toman, CPA/ABV Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  2. More Than Accounting . . .CPA Firm Opportunities • Changing Marketplace • Auditing and Taxes • Consulting Areas • Advice and Planning Services Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  3. Mike Wardley, CPA Creative Profit Advisor • Graduated from WSU in 1992. • Mike helps companies' owners and managers realize the profit potential in their company and then find ways to tap those profits. • A Partner with Kentner Sellers, CPAs – Dayton CPA firm, about 25 people, 7 partners / owners, specializing in personalized services with an emphasis on creativity, advice and consulting. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  4. Greg Toman, CPA/ABVAccredited in Business Valuation by the American Institute of CPAs • Graduated from that other Dayton university (the one going to the NCAA men’s basketball tourney). • Managing Partner of Kentner Sellers, CPAs. • Specializes in Business Valuations – estate and gift tax planning and reporting, buying, selling and merging businesses, transferring ownership to the next generation or to the managers, goodwill impairment tests. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  5. The Kentner Sellers Experience • Nice manageable chunks of work - no month-long camps at a client’s offices. • Fun stuff, not number crunching - direct contact with a number of clients, interviewing clients for profit opportunities, valuing businesses for potential sale or purchase, helping clients find ways to save for their retirement or kids’ college. • We work with businesses in the business of improving the community, making money, and finding ways to motivate employees. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  6. What We Do at Kentner Sellers • Work directly with the owners and managers of small to medium businesses to plan their growth, operate more effectively, and produce more value for the business owners and employees. • Focus our services on: • Profit improvement - digging for profit ideas and results, teaching finances to managers • Business and personal financial planning • Valuing, buying and selling businesses • Technology and information solutions • Helping the next generations in family businesses learn about business and take over management. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  7. Changes in Your Future Changes in the Marketplace • 2002 Sarbanes/Oxley Act effect on public accounting and consulting • More reliance on information systems, less on accountant • Fewer mergers / acquisitions Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  8. The Future of Public Accounting / Consulting Accounting vs. Assessing Verifying Interpreting Communicating Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  9. The Future of Public Accounting / Consulting • Fraud auditing • Assurance for high-tech transactions and systems • Helping companies, owners and employees make more money, operate more effectively, save taxes, live easier. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  10. Fraud Consulting • Who Moved My Cheese (into their own pocket?) • Higher demand for assurance that the company is not cooking the books • Public Companies financial and chief officers certify financial statements. • Risks and opportunities for employee and vendor fraud. • Risks in systems design and reporting. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  11. Assurance and Technology Services • WebTrust – assurances that the Internet site adheres to its stated business practices and disclosures, to provide safe, secure transactions and to protect private information. • SysTrust - designed to increase the comfort of users with the systems and information databases by decreasing the risk associated with systems failures. • Technology – effectively managing financial and technological solutions. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  12. Kentner Sellers, CPAsProfit Improvement Every Company can make more profit – we can help them realize their profit opportunities. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  13. Profit Improvement • Show employees and owners what extra profits can mean for them and the community. • Train managers to understand and use financial results as a basis for decision-making. • Work with employees to find profit ideas and help management implement those ideas. • Develop key indicators of profitability. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  14. Profit Improvement Examples of how we have helped Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  15. Kentner Sellers, CPAsBusiness Valuations We use financial analysis, experience and specialized valuation principles to determine the Value of a Company to facilitate a life-changing transaction. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  16. Business Valuation Projects • Mergers and acquisitions • Selling the business • Transferring the business to family, managers, or employees • Management incentive plans • Goodwill impairment testing Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  17. Business Valuation Examples of how we have helped Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  18. Kentner Sellers, CPAsFinance Consulting We help companies continue to grow and survive by securing needed financing and capital funding. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  19. Financing & Capital Sourcing • Recurring – credit lines • Capital acquisition – terms, leases • New line of business • Company acquisition – owner and bank capital • Struggling business capital – merging, added investors, options • Securing alternative sources of financing and capital Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  20. Financing Consulting Examples of how we have helped Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  21. Kentner Sellers, CPAsBusiness Succession We use financial and business experience and delicate communication skills to help transition business management and ownership. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  22. Succession Planning and Transferring Ownership • Business owners plan to retire • Family members work through the ranks to become owner-managers • Managers progress and share ownership • Employees buy their company Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  23. Succession Consulting Examples of how we have helped Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  24. Your Skills What Do You Need to Succeed? Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  25. CPAs – Core Competencies CPA Vision – www.cpavision.org Communications and Leadership Skills Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  26. CPAs – Core Competencies CPA Vision – www.cpavision.org Strategic and Critical Thinking Skills Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  27. CPAs – Core Competencies CPA Vision – www.cpavision.org Focus on the Customer, Client and Market Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  28. CPAs – Core Competencies CPA Vision – www.cpavision.org Interpretation of Converging Information Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  29. CPAs – Core Competencies CPA Vision – www.cpavision.org Technologically Adept Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  30. What Can You Do? • Learn the basics of accounting and finance. • Learn how technology enables efficiencies in today’s business. • Learn where to find out how to use technology effectively. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  31. What Must You Do? • Be a communicator – find every chance to improve verbal and report / analysis presentation skills. • Find and pursue your passion in a career – and show it. Mike Wardley and Greg Toman Kentner Sellers, LLP www.kentnersellers.com Mar-2003

  32. What Your Future May Hold, and What You’ll Need • Basic knowledge of financial and accounting issues • Ability to analyze financial matters and communicate your conclusions and ideas • Willingness and passion to learn • Maintain and show your energy, passion, excitement!

  33. More than Accounting...What Your Future May Hold Mike Wardley, CPA mwardley@kentnersellers.com 937 / 898-1376 Greg Toman, CPA / ABV

More Related