Business Success with Chris Vinas
The coffee cups that sit on the conference table at VOS CPAs’ Chatham Parkway office are stamped with a modest company motto: “Because Accounting Matters.”
It’s an easy enough concept to grasp, even if you don’t know the difference between a CPA and the CMA. Or, at least it should be.
“A lot of business owners think that accounting is accounting. That it’s all the same,” says VOS CPAs’ Founder and Director Christopher Vinas. “But it’s not. This is where we feel that we can enter the marketplace and change that. And we do change that for our clients.”
Here are 3 tips from the VOS CPA's on how you can succeed in today's economy:
1. Build a management team and advisors.
This way, business owners can achieve a set of goals and objectives based on a business plan, and develop a culture within that team. Establish outsourced professional relationships with industry-specific advisors - like your CPA - to meet business challenges on tax and financial reporting issues.
2. Be sure corporate financials, tax returns and other required filings are compliant, accurate and complete.
Business owners face many compliance requirements, which must be monitored and filed in a timely fashion to avoid substantial penalties from government authorities. Have your CPA advisors periodically review and reevaluate internal policies and procedures.
3. Implement a budgeting system to compare expected business activity to actual activity.
In order to utilize a properly executed budget, an effective accounting system must be in place. Initiate and oversee a complete and accurate set of records, including detailed revenue and cost records to allow for budget analysis.
For more information on VOS CPA's, read about their story in our Financial Resource Guide or visit them online at voscpas.com.