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FINANCIAL RECORD MANAGEMENT 

EXCELLENCE IS KEY

FINANCIAL RECORD MANAGEMENT 

Efficient management of financial records is crucial for the success of any business. The Herald House Financial Consulting Group offers comprehensive accounting and bookkeeping services from journal entries, bank reconciliation services, to month-end and year-end financial statement preparation ensuring that your financial records are meticulously maintained, reconciled and prepared to provide an accurate financial overview.

STRATEGIC FINANCIAL PLANNING 
STRATEGIC FINANCIAL PLANNING 

The Herald House Financial Consulting Group provides strategic financial planning services that are tailored to meet the specific needs of your business. Our team of experts will work closely with you to ensure that your financial records are accurately maintained, allowing you to focus on the core aspects of your business.  We understand that each business has unique financial needs and offer personalized financial consultation services to address your specific requirements, providing actionable insights and strategies to support your long-term financial objectives.

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KPI

KEY PERFORMANCE INDICATORS - KPI’s

KPI’s are critical in any business but are not useful if they are not tailored to the individual business.  There is no “catch all” for every industry.

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There are base indicators that each business should be measuring. Does management know why one variance in one area is significantly relevant to a variance in another?  What the change in one number means or how it correlates to the industry as a whole?

Is management inundated with KPI’s?  Are they receiving so much data that they can’t keep up or even track it?  Is the data relevant to the “movers and shakers” of your company?  Is the data timely?  What information is available so that these measures can be provided in a timely, cohesive and clearly visible manner? 

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Our Financial Consulting Group will assess your business and develop KPI’s based on your business needs, functionality and budget so that you are tracking and monitoring information that is relevant, necessary and current.  Our business is “getting to know your business”  and we will develop KPI’s that support your financial strategy. 

POLICIES
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POLICIES & PROCEDURES

Our Financial Consulting Group will assess your accounting policies and procedures. All of your existing controls will be documented, control enhancement recommendations provided, and continuous improvement opportunities sought every step of the way. 

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It is critical that businesses document their financial accounting policies and procedures to establish a framework for which they present and govern their financial information.  During year-end financial audit, a company’s internal accounting and financial policies and procedures are some of the most heavily tested and relied upon by the external audit staff.  Unfortunately, this is one area where internal resource allocation is not aligned to the statistics. 

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Our Financial Consulting Group will assess and document your financial accounting policies and procedures.  All of your existing controls will be identified and documented, control enhancement recommendations provided; and continuous improvement opportunities sought every step of the way.  

     

 We assume nothing!  Everyone involved in your financial process is interviewed and all accounting transactions are followed and documented from beginning to end.   A flowchart, process narrative, and policy are drafted identifying all control along the way.  This documentation is vetted with all individuals as well as management to ensure we’ve captured the process and accounting policy correctly.  Updates are given to Senior Management during various intervals on progress and to provide a clear expectation on deliverables and timelines.

SPECIAL ACCOUNTING TREATMENT

Whether it be special, unusual or infrequent transactions, our Financial Consulting Group will assess the special accounting treatment necessary so that the transaction is recorded accurately, clearly and flows smoothly through your accounting processes.   

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Special Transactions and unusual activity is assessed for special accounting treatment in accordance with GAAP.  Specifically with regard to accounting for revenue recognition, leases, capital expense, goodwill and depreciation.  We collaborate with the Accounting, Finance, Treasury and Tax teams to ensure compliance with all internal and external tax, reporting, accounting, GAAP and IFRS guidelines.

Bussiness Analysts use laptop and doccument to analyze data with KPI systems to Key succes
SPECIAL-TREATMENT

SUSTAINABILITY & ACCOUNTABILITY

The company’s KPI’s are “in line” and reporting is top notch!  Accounting policies and procedures are now in place with proper controls to ensure the financial reporting is complete, reliable and there are proper checks and balances.  Executive Management is confident, and this is great.    

Now, how does a company sustain this assurance and ensure that all the hard work is not in vain?  How does a company keep old habits from creeping back in or be sure policies are followed and not ignored or discarded? 

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Accountability!  As explained through ongoing education of staff and personnel, Each team member must have a clear view of their role, understanding of their responsibilities, and expectations of their performance and how this supports not only the department but company goals as well. 

SUSTAINABLE-ACCOUNTING
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TAX COMPLIANCE
&
OPTIMIZATION 

At The Herald House Financial Consulting Group, we specialize in tax compliance and optimization. Our experienced professionals will help you navigate the complexities of tax planning, ensuring that you are fully compliant with tax laws while optimizing your tax strategy to minimize liabilities and maximize savings.

TAX COMPLIANCE & OPTIMIZATION 
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