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Financial Advisory Services
We believe the greatest benefit we provide our clients is in the added value services we offer beyond accounting reports and tax filings. A major focus of our practice is assisting clients with the complex financing, cash flow, cost accounting and tax issues they encounter on a daily basis. Our founding Principal, Dan Spilman, and his department devote 100% of their time on financial consulting matters. Spilman’s financial advisory team specializes on the financing, profitability, and growth of client organizations. Services offered include business valuations, financial and strategic planning, financial forecasting and product pricing and costing. Our firm stands ready to employ its expertise and assist our clients in any financial related matter they may face.
Highlighted Services
Short-Term Financial Planning & Modeling
Short term financial plans consists primarily of budgets, cash flow plans, and financing plans. Spilman’s financial advisory team has extensive experience with assisting clients in developing their short-term financial models. We have developed and have available tools that reduce the cost of developing plans and allow our clients to carry the planning process forward with reduced involvement by our firm. Our firm also has tools that allow us to assess the impact of uncertainty on the cash flow and financing needs of the business.
Long-Term Financial Planning & Modeling
Long-term financial planning is one of the most important aspects of financial management. A long-term financial plan sets out the company’s long-term financial objectives and strategies for achieving them. Important components of a long-term financial plan include the company’s tax strategy, retirement plans, maximizing the value of the business through either growth or harvest strategies, and plans for succession in ownership of the business. Our firm utilizes our expertise in every department to assist with the tax and financial planning needed to maximize the current and future value of clients’ businesses.
Analysis of Financial Trends and Benchmarking
In order to manage the daily operations of a business, owners and managers must plan and control the detail operational and financial aspects of their business daily. With this responsibility, it is difficult to step back and look at the overall financial condition of the business. In order for a company to be successful in the long-term, it is essential to know how outside users of their financial statements view the financial condition of their company. To address this, our financial advisory team has developed a “Financial Analysis Report.” This report analyzes the changes in the financial condition of the company over time and benchmarks the company to a survey of companies in the same industry. Our team assists clients by analyzing their financial condition and implementing action steps to provide for growth in the future.
Product and Service Cost and Pricing
Spilman considers the ability to accurately determine product and service costs, and determining how to use those costs in setting profitable and competitive prices, one of the most important aspects of financial management. Unfortuately there is no standard or uniform approach to determine product or service cost and pricing that is applicable to all types of companies. Our firm has worked with many of our clients, in many different industries and geographic locations, to develop approaches to better understand their cost and pricing. Our team provides information so our clients can intelligently determine pricing strategies and know when to turn down a project that will result in losses. With our assistance, clients have been able to identify desired sales needed to achieve their profit objectives and have determined pricing strategies in order to reach them.