Accounting Advisory Services

This report will lay out a roadmap for the journey from a heavy reliance on compliance to more of a focus on advisory services. For this reason, Jetpack Workflow created a dedicated solution for CAS teams, helping firms like yours manage client advisory work easily. The term advisory services are used so casually that sometimes it becomes very hard to understand exactly what it means.

Services

We can help enhance your confidence in your business’ financial leadership through proactive, practical, and business-oriented insights. With KPMG Accounting Advisory Services at your side, you have a trusted advisor providing transactional guidance based on your industry or the geography. Our cross-functional teams of specialists have deep experience in accounting, disclosure, valuation, integration, separation and tax. They also have the ability to reach out across the KPMG global network as needed to best support your needs.

Joint ventures and strategic alliances

• AI offers significant benefits to finance teams, but there are also risks that need to be mitigated.
• Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
• Accounting advisors assist the firm in making the right choices that bring growth.

Improving deal evaluation, structuring and communication by strategically approaching ASC 805. Hourly rates, on the other hand, punish you for getting better at your job and don’t reflect what clients are actually paying for. Use the RFP submission form to detail the services KPMG can help assist you with.

Estate planning is another worthwhile service to offer individual clients. Estate laws are often complicated, and CPAs can partner with attorneys to handle the financial strategy of asset transfers. That might include providing guidance on how to set up a trust, creating plans to minimize wealth taxes, and more. This service can be easy to recommend to clients if you’re already performing other services like financial reporting since you’re familiar with their finances and have a solid understanding of their business. As a result, strategic tax planning services are something you can offer all your clients. As a fractional or part-time CFO, you can offer high-level advice and guidance to help businesses make strategic financial decisions and grow their operations.

That can be a large undertaking, both from a financial and legal standpoint, and these businesses often seek support from external advisors to guide them through the process. Clients may also be interested in business planning services and looking accounting advisory for an experienced advisor to assist them with long-term growth. This service might include an in-depth market analysis, competitor analysis, and growth strategy ideation. Accounting advisory services provide and predict the process and interpretation of data which can be best achieved with the help of a robust technology backup.

RISK MANAGEMENT

Having an advisor who can track and interpret these changes and help them understand how they impact their operations can be useful to clients. In a complicated regulatory and business environment, company accounting departments face a significant task. Keeping a company’s financial records in order and compliant with accounting standards and IRS regulations is important. With new pronouncements and other regulatory requirements occurring all the time, outside assistance is often needed. Regularly reviewing financial statements is crucial for effective financial management.

The true value of moving to an advisory-based model is that it will reignite your passion for serving clients and enable you to do what you started out in this profession to do—help others. In general, an accounting adviser is closely involved in their clients’ long-term success, while a consultant provides strategic guidance and recommendations on specific issues or challenges. Even within the accounting space, tax and financial reporting regulations continually evolve.

How do I monetize advisory services?

In a study conducted by CPA.com, nearly 60% of accountants said that they offer advisory services. So, it’s likely that you’ve already been offering advisory in one form or another. Advisory accounting goes beyond this by examining the present or looking to the future and providing guidance to business owners. With the right direction, owners can make better-informed business decisions, increase their profits and cash flow, and avoid potential problems — but more on that later. In today’s increasingly complex business landscape, you face a gauntlet of technical accounting, tax, and financial reporting issues. Successful management and resolution of these matters is essential to keep moving toward your business objectives.

Your membership also includes unlimited access to the online Learning Plan which provides eLearning, videos, and guidance to implement with maximum success. To see how Jetpack Workflow can help your firm, schedule a demo and discover why thousands of accountants rely on our platform to manage their daily client work. Provide expert business advice that helps organisations to work smarter, grow faster and be more sustainable. Tools like Cone Workflow Software can simplify this process, offering seamless proposal and project management capabilities. Finance teams can learn from the experience of their peers who have already filed 2020 accounts during the pandemic.