Category: Dental CPA

Protect the Fruits of Your Labor With Wealth Management | Baton Rouge CPA

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Many people, especially small business owners, require advice about their financial planning—pensions, investments, retirement planning, and business protection, to name a few. A knowledgeable financial adviser can prove crucial to protecting your legacy.

Wealth management: what is it?

After a customer has signed a contract with a wealth management firm, the company provides advice to the customer on how to effectively manage their personal finances or investments.

What are the benefits of hiring an accountant?

The majority of accounting firms have a network of independent advisers who can provide impartial advice on any of the following topics:

Pensions: Are you considering investing your pot in order to receive an adjustable income? Do you plan to mix your pension options? Would you like to contribute more to your pension? Choosing the right accountant can be beneficial.

Planning for retirement: It is critical to prepare for tomorrow and beyond. When you reach retirement age, you may have amassed large sums in pensions, redundancies, or inheritances that you are uncertain how to protect.

Management and advice on investments: Understanding all the opportunities and associated risks will help you turn your pennies into pounds.

Tax planning for inheritances: Protect your family’s financial future, reduce your tax exposure, and prevent poor investment decisions.

Life insurance and critical illness coverage: There is no one who wants to think about the unforeseen and unexpected events that life sometimes brings. Therefore, it is all too easy to overlook the benefits that protection insurance might provide financially in the event of an accident, illness, or death. However, we insure our cars and houses without hesitation, so why not insure ourselves and our family members as well? Make sure that your loved ones don’t have to worry about money should the unthinkable happen.

Protecting your business: You need to ensure your business is adequately protected in case a key employee leaves. Directors and employees are fundamental to the long-term growth of a business.

Will writing: Many people do not have one, or believe it is too challenging to arrange, although it is one of the most significant documents you can have. With the help of an advisor, you can specify what should happen to your estate (whatever you own) and financial assets after your death.

Mortgages: Obtaining advice on the most appropriate mortgage for your circumstances will give you peace of mind when committing to such a major investment. As opposed to heading straight to your bank (who can only offer you their own products), advisers look around the market to find the most competitive rate for your situation, whether you are a private homeowner or a developer/landlord.

Whether by choice or not, life is often complex and inevitably involves change. A sound financial plan should be multifaceted and flexible enough to accommodate life’s unforeseen changes where possible. A professional adviser will make value-for-money recommendations and solutions based on your unique circumstances.

It is our mission as accountants to communicate complex information to clients with objectivity, integrity, and clarity in order to help customers readily comprehend the knowledge and advice that we are sharing with them. Please contact us to schedule a consultation if you would like to discuss any specific investment or gain advice regarding our wealth management services.

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Why is Accounting the Most Important Thing for Your Business? | CPA in Baton Rouge LA

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As a business owner, you know that there are a lot of things to keep track of. You need to make sure that your product is high-quality, that your employees are happy, and that your customers are satisfied. But what you might not realize is that accounting is the most important thing for your business.

Why is accounting important?

Accounting is critical for any business, large or small. It provides owners and managers with information that they can use to make sound decisions about the company. Accounting also helps businesses track their progress and performance over time.

There are many different types of accounting, but all businesses should have at least a basic understanding of financial accounting. Financial accounting focuses on the financial statements of a company, which show the company’s financial health. These statements include the balance sheet, income statement, and cash flow statement.

While accounting may seem like a dry and boring topic, it is essential for all businesses. A solid understanding of accounting can help you make better decisions about your company and improve your business’s bottom line.

The benefits of good accounting practices

There are many benefits to good accounting practices. Perhaps most importantly, good accounting helps ensure the financial health of a business. It can also help businesses save money, avoid legal problems, and make more informed strategic decisions.

Good accounting practices are essential for any business, large or small. By keeping accurate records and making sound financial decisions, businesses can avoid many common pitfalls and set themselves up for success.

The importance of financial discipline

Many people believe that financial success is all about making a lot of money. While it is true that you need to have a certain amount of money to be financially successful, it is not the only factor. One of the most important things to remember is that financial success is about more than simply making money. It is also about having the discipline to save and invest that money wisely.

Without financial discipline, it is very easy to spend all of your money and never achieve your financial goals. If you want to be financially successful, you need to be disciplined about how you manage your money. You need to have a budget and stick to it. You need to make sure you are saving enough money for your future. And you need to be willing to make sacrifices in the present to achieve your long-term financial goals.

The bottom line: how accounting can improve your business.

Accounting is critical to any business, large or small. It provides essential information about a company’s financial health and can be used to make key decisions about the future of the business.

While many businesses view accounting as a necessary evil, it can actually be a powerful tool to help improve your business. Our accountant in 70808 says that by understanding the basics of accounting and using it to your advantage, you can make your business more efficient, more profitable, and more successful.

In conclusion, accounting is the most important thing for your business because it provides critical information that you need to make sound financial decisions. Without accurate and timely financial information, it would be very difficult to run your business effectively. If you need assistance with your accounting, please contact our Baton Rouge accounting office today to schedule a consultation.

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Effective Inventory Management Tips | Baton Rouge Accounting

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A company’s inventory management is a crucial part of its profitability, but many small businesses don’t practice good inventory management when it comes to the products they sell. The shortage of inventory in some businesses means they are unable to supply enough available products to meet customer expectations. Often, this drives customers away, sometimes permanently to other businesses. 

Alternatively, some businesses go the other way, overstocking items just in case. Although your customers will always have the items they need, this strategy may lead to you losing money. In addition to tying up valuable cash flow, excess inventory also costs more to store and track. 

Inventory management lies somewhere between these two extremes. It takes more work and planning to achieve an efficient management process, but your profits will reflect your efforts.

The following are tips to help you effectively manage your inventory for increased profitability and cash flow.

  1. Determine which items are most important.

Inventory can be classified into priority groups to help you understand what items you need to order more of and more frequently, as well as those that are important to your business but may cost more and move more slowly. Typically, our Baton Rouge, LA accountant suggests separating your inventory into groups A, B, and C. A-group items are higher-ticket items that you need fewer of. The C category includes items with lower costs that sell quickly. B items fall in the middle: they have a moderate price and move out the door more slowly than C items but quicker than A items.

  1. Monitor all product information.

Keeping track of product information is important for inventory management. Information should include SKUs, barcodes, suppliers, countries of origin, and lot numbers. Consider also tracking the cost of each item over time so you’re aware of factors that may affect the cost, like scarcity and seasonality.

  1. Conduct an inventory audit.

Businesses sometimes conduct a comprehensive count once a year. Other companies spot-check their hottest items monthly, weekly, or even daily. Many do all three. Regularly check your inventory to ensure it matches what you think you have, regardless of how often you do it.

  1. Analyze the performance of suppliers.

Inventory problems can be caused by an unreliable supplier. If your supplier is habitually late with deliveries or frequently shorts your orders, it’s time for you to take action. Discuss the issues with your supplier and figure out what the problem is. As a result, you may need to switch partners, or you may run out of inventory due to uncertain stock levels.

  1. Follow the 80/20 rule when dealing with inventory.

80% of your profits come from 20% of your stocks, as a general rule. For this 20%, prioritize inventory management. You should know how many of these items you sell in a week or a month, and closely monitor them. Don’t neglect the items that make you the most money; manage them properly.

  1. Maintain consistency in how you receive stock.

It may seem obvious to make sure incoming inventory is processed, but do you have a standard process followed by all your employees, or does each employee handle incoming stock differently? The tiniest discrepancy in how new stock is taken in could have you scratching your head at the end of the month or year, wondering why your numbers don’t align with your purchase orders. Check that all staff that receives stock does it the same way and that all boxes are verified, received, and unpacked together, accurately counted, and checked for accuracy.

  1. Monitor sales.

Even though this seems like a no-brainer, it goes beyond simply adding up sales at the end of the day. Keeping track of what you sell and how many items you have in stock should be done daily. In addition, this data needs to be analyzed. Are you aware of when certain items sell faster or drop off? Is it a seasonal thing? Do you sell certain items on a particular day of the week? Are certain items always sold together? Maintaining control of your inventory requires understanding not just your sales totals but how items sell as well.

  1. Place your own orders for restocking.

Vendors sometimes offer to reorder inventory for you. The idea seems beneficial at first glance—allowing someone else to manage the process for some of your items can save you time and staff. However, your vendors may not have the same priorities as you. They want to move their items, while you want to stock items that will be most profitable for your business. Check your inventory and order restocks for all of your items yourself.

  1. Invest in inventory management software.

If your business is small enough, you can manage the first eight items on this list manually with spreadsheets and notebooks. However, as your business grows, you’ll spend more time managing inventory than you do on your business or risk your stock getting out of control. Inventory management software makes all these tasks a lot easier. You should make sure that any software solution you choose meets your needs, offers the analytics your business needs, and is easy to use.

  1. Make use of technology that integrates well.

Stock management doesn’t have to be limited to inventory management software. Mobile scanners and POS systems can help you stay organized. Prioritize systems that work together when investing in technology. Having a POS system that can’t communicate with your inventory management software isn’t the end of the world, but you might spend a lot of time transferring data from one system to another, which can result in inaccurate inventory counts.

Inventory management is a crucial part of the financial management of your business. For more helpful information, contact our accounting firm in Baton Rouge, LA to schedule a consultation.

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

How to be Financially Successful When Working From Home | AG Company

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Accountant in Baton Rouge

When switching from an office to a home office, you will have to get used to a familiar yet new environment. In any work from home scenario, you must scrutinize your habits and finances more deeply.

Maintain a record of your business expenses. It is recommended that you keep a record of all of your business expenses. Find out which costs will be covered by your employer and which you will pay for. An accounting firm can significantly assist in these situations.

Time management is essential. It allows you to maximize your productivity. Your employer and future will only benefit if you stay productive when working from home. You can measure how long you stay focused by using productivity apps. The apps limit the amount of time you spend on social media, so you will not be tempted to check Instagram on the job. It would help if you were disciplined, a beneficial quality that permeates your professional and personal lives.

Financial automation is a good idea. The easiest way to automate your financial life is to get your paychecks automatically deposited. If your employer offers a retirement plan, enroll; your contribution is automatically deducted. Try various investment apps or seek independent advice from your accountant. Build up your savings by setting up automatic transfers from your checking to savings accounts.

Education is the key to your future. Working at home gives you time to do chores during lunch and break times. The convenience of proximity makes vacuuming, washing, and preparing meals much more accessible. You can also learn new skills while working from home during your breaks. You can learn what you need to know to be successful online and at a meager cost: how to master a specific type of software, brush up on management skills, and refine your financial skills.

You might want to consider adding insurance. Office insurance covers you, but how about your home office? Working from home may add some additional liability for some people. Consult your accountant or insurance agent to find out if you need additional insurance, such as an umbrella policy. It can cover some of your legal fees if you are sued on your property or if someone is injured on your property.

Some people find working from home challenging, while others find it rewarding. An experience like that allows you to experience work-life balance from a different perspective and reevaluate your financial health and work habits. Contact our CPA Baton Rouge office today if you have other questions about taxes or financial tips for working at home.

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

 How to Boost Profits at Your Business | Consultant Baton Rouge

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Baton Rouge Consultant

You have a responsibility as a business owner to ensure your company’s success. The sense of accomplishment is a significant aspect of owning a business that is so fulfilling. All business leaders need to make sure their businesses are profitable, no matter whether they own a business or belong to an investor group. 

To stay on top of overhead, revenue, and marketing strategies, you must have a solid grasp of them. Check out these tips to increase profits for your business.

Calculate your expenses.

If you wish to increase your profits, make this a priority. The leadership must create a detailed expense report each month. Equipment, salaries, liability insurance, and rental costs or property taxes are all included in this category. Look over this list regularly to see if there are any places you can save money. 

Look for items that your business overspends on or that are not strictly necessary. According to your business needs, you might be able to lower your overhead by lowering specific supplies, finding ways to reduce your insurance payments, or even writing off more expenses to reduce your taxes. 

You can lower your overhead in a variety of ways. Start by carefully going over all your expenses. If you don’t have the time to do this task yourself, it is a great idea to hire a certified public accountant who specializes in your type of business. 

Establish goals for growth.

To avoid becoming complacent, you have to have specific goals. Without clear goals, you will stagnate and see decreased profits. For a company to be profitable, CEOs need to plan where they want the company to go in the future. Develop strategies that get you to define the number of clients you hope to gain during each period.

Promote your company online.

Utilizing search engines is one of the most common ways for people to find your business. A study found that 93 percent of Americans use search engines to find local businesses. You are likely among them. If you want your business website to be seen by as many eyes as possible, what can you do to stand out? A search engine optimization (SEO) campaign is the answer to online marketing. Getting as high a ranking on Google as possible is the purpose of this kind of marketing. 

This is a crucial step in today’s marketplace, where Google, Yahoo, Amazon, and Bing are the dominant search engines. Contact us today for expert advice on these and other ways to make your enterprise as profitable as possible. Our team of professionals has excellent experience in helping businesses grow.

Apple Guerin Company LLC
Phone: (255) 767-1020
Url: https://appleguerin.com/
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Your Team Benefits from a CPA | CPA in 70808

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CPA in 70808

Making sure your business succeeds is a high priority for anyone who owns a company or is in a partnership. Succeeding means running your business in the most efficient manner possible, finding ways to grow revenue, lower overhead, maximize deductions, and minimize tax liabilities. With the help of our CPA in Baton Rouge, your business can achieve these goals so that you can concentrate on running the business. 

Financial specialists can help.

A business CPA specializes in corporate finance, just as you do in your field. CPAs who practice in your industry have an up-to-date understanding of the typical expenses, trends, and ways to lower tax obligations for your business. In addition, they understand where to purchase new equipment or inventory that offers the best return on investment and have the ability to save money every year by reducing depreciation on asset types specific to their industry.

Assess the financial health of your firm.

Generally, people think of CPAs in relation to tax matters. Choosing the right certified public accountant can provide your business with more than just tax advice; they can also apply their expertise to the overall model of your company. An experienced CPA can determine how to reduce expenses and increase profits. Accountants trained in this area can identify oversights and areas of inefficiency specific to a particular field.

An accountant will be able to make meaningful, actionable suggestions after analyzing your business finances for just a few months.

Tracking metrics and benchmarks: What’s the best way?

Benchmarking refers to a company’s performance metrics as compared to competitors and industry standards. A competent CPA does. An example would be, Ohio based businesses may not know how their business compares with those in California, Texas, or New York, but a competent CPA does. Analysts know the key performance indicators (KPIs) that govern each industry. This section includes client loads, profit margins, and active clients.

It’s common for business leaders to become captive to their customers’ needs and day-to-day operations; they may never pay attention to benchmarks or key performance indicators, which effectively frame and understand your company.

Accounting professionals are better suited to utilizing tools. They have experience in many industries. Our experts offer your industry-specific benchmarks, tax strategies, wealth building, and more. Learn additional information about how a CPA can assist you in growing your business by contacting our accounting office in Baton Rouge, LA today.

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Revitalize Revenues by Increasing Investment | Baton Rouge CPA

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CPA in 70808

A business’s revenue tends to increase and decrease over time. A business owner who sees new business slow and income declines often cut back on marketing, as it is the item in the budget they deem most expendable. However, this is usually not the best decision according to our CPA in 70808. 

You will see a drop in revenue when you cut your marketing budget. You are effectively shutting the door to new business by cutting your marketing budget. There is fierce competition among companies, and many cannot afford to become obscurantists. When you are one of the few with little to no competition, you need to make sure people know you’re out there, what you offer, and any new services or products. Adding e-commerce to your marketing strategy requires reaching out to your target audience.  

Businesses cannot rely solely on word-of-mouth referrals in today’s competitive marketplace. It’s not enough to send postcards and emails once or twice a month to get new clients or customers. A scattershot approach is ineffective. Keeping yourself visible is crucial.

Your goal should attract new clients and engage and maintain your current clients’ loyalty. New services, specials, and the latest developments in your field should all be discussed. You can keep people informed quickly by using multi-pronged social media campaigns or email blasts.

Marketing efforts that are consistent and effective help you accomplish both goals.

As your marketing budget increases, your revenue increases as well. Your business should allocate a certain percentage of its budget to marketing based on the following factors:

  • Is your business new? Until you develop a client base, you may have to invest more.
  • Do you want to keep your business growing? Calculate your existing budget’s effectiveness by comparing the number of new clients acquired to the number lost each year.
  • Are things improving or deteriorating? At least until the trend reverses, consider investing an additional 5 to 10 percent.
  • Where does your local market stand in terms of competition? More investment is required to compete effectively in a competitive market.

Indeed you are aware of the latest marketing trends, and perhaps you have done your outreach, but is it the most effective way to utilize your time? Running the day-to-day operations of a business requires much time, and business owners are usually very busy. Outsource your marketing to professionals who understand your business. 

Contact our accounting office in Baton Rouge, LA to learn how to help plan your marketing budget and increase your business growth.

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

An Accountant Can Help You File Your Taxes | CPA Baton Rouge LA

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cpa 70808

A business’s revenue tends to increase and decrease over time. A business owner who sees new business slow and income declining often cuts back on marketing, as it is the item in the budget they deem most expendable. However, our CPA in 70808 shares that this is usually not the best decision. 

You will see a drop in revenue when you cut your marketing budget. By cutting your marketing budget, you are effectively shutting the door to new business. There is fierce competition among companies, and many cannot afford to become obscurantists. When you are one of the few with little to no competition, you need to make sure people know you’re out there, what you offer, and any new services or products you may have. Adding e-commerce to your marketing strategy requires reaching out to your target audience.

Businesses cannot rely solely on word-of-mouth referrals in today’s competitive marketplace. It’s not enough to send postcards and emails once or twice a month to get new clients or customers. A scattershot approach is ineffective. Keeping yourself visible is crucial.

Your goal should be to attract new clients and engage and maintain your current clients’ loyalty. New services, specials, and the latest developments in your field should all be discussed. You can keep people quickly informed by using multi-pronged social media campaigns or email blasts.

Consistent and effective marketing efforts help you accomplish both goals.

As your marketing budget increases, your revenue also increases. Your business should allocate a certain percentage of its budget to marketing based on the following factors:

  • Is your business new? Until you develop a client base, you may have to invest more.
  • Do you want to keep your business growing? Calculate your existing budget’s effectiveness by comparing the number of new clients acquired to the number lost each year.
  • Are things improving or deteriorating? Consider increasing your investment by 5 to 10% until the trend reverses.
  • Where does your local market stand in terms of competition? More investment is required to compete effectively in a competitive market.

Indeed, you are aware of the latest marketing trends, and perhaps you have done your outreach, but is it the most effective way to utilize your time? Running the day-to-day operations of a business requires a lot of time, and business owners are usually very busy. Outsource your marketing to professionals who understand your business. 

Contact our accounting office in Baton Rouge, LA to learn how we can help plan your marketing budget and increase your business growth.

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Avoid Employee Embezzlement | Baton Rouge Accountant

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Baton Rouge Accountant

As a business owner, you have a lot of responsibilities. Overseeing staff, monitoring financial transactions, and catering to clients’ demands can be overwhelming. You can avoid the risk of employee theft by putting safeguards and internal controls in place. It may seem hard to imagine that the smiling face you hired to welcome customers could be stealing from you, but business owners have suffered the loss of thousands of dollars annually with this kind of naivety. It can be challenging to prevent employee theft, but you can minimize the possibility of it happening by educating yourself and implementing measures to boost your financial security. Here are a few suggestions recommended by our Baton Rouge CPA.

Know Who You’re Hiring 

It’s not enough to hire someone based on their resume or personality. Anyone you consider hiring will likely handle confidential information, so a thorough background check is essential. Contact information for their past employers should also be requested. 

Learn as much as your employees.

Over time, employees can figure out which clients pay with cash, who writes checks, how much money is deposited daily and weekly, and what comes in from outside sources. You should also know this information. Request that your employees record these details in your accounting software, and ask your accountant to assist you in creating a system that includes a check and balance system with daily opening and closing reports. Therefore, only you or your accountant can run and analyze these reports-never an employee.

Create Shared Responsibilities

You should establish and implement a team-based approach to these tasks so that no single individual in your office controls the entire financial process from start to finish. In this way, you will know who recorded which transactions and will create a sense of accountability among your employees.

Be on the lookout for common red flags

Always be on the lookout for common signs that an employee might be stealing from the practice. Pay attention to anyone whose spending suddenly exceeds their budget, is always the first in and the last out of the building, or is overly protective or secretive of their work. 

Arrange a third-party audit

A victim of embezzlement can suffer significant financial damage, so it’s important to periodically hire an outside accountant to review your finances and look for irregularities. Using this person, you can monitor your employees’ work to catch errors, mistakes, and theft.

You shouldn’t tell anyone on your staff that something is amiss in your business, since the suspect may discover this and destroy incriminating evidence.  A trusted CPA can put a fool-proof process in place so you can catch your thief and get your money back where it belongs — in your business. We can answer your questions or schedule an appointment at our Baton Rouge, LA accounting firm for you to learn more.

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808

Setting Goals For Your Business | CPA in Baton Rouge LA

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baton rouge accounting

No matter how impressive your vision for your company may be, success requires hard work and strategic planning. Highly successful business owners learn to set goals realistically and effectively. Mastering the skills of effective goal-setting, strategic planning, and assessing goals will help you to find greater success in your business and develop great business management skills.

Set Incremental Goals

Start small when setting goals by establishing daily and weekly goals. It can be easy to let ambition take over while you dream of long-term goals. However, you cannot reach your long-term goals without smaller victories along the way. Setting smaller, incremental goals provides the opportunity for you to be in consistent control of your business. You will know if you miss a weekly goal, and you can then adjust your strategy to make sure your team can stay on track moving forward. If you are only setting quarterly or yearly goals it can come as a surprise when you miss them, or your team might be left struggling to meet them in the eleventh hour.

Make Goals Visible

You and your team need a visual reminder of what your goals are and when you plan to achieve them. Put them up on a bulletin board in the office, or include them on your calendar. Write your goals in a place you look at daily as a consistent reminder. We all have those back-of-the-mind thoughts or ideas that might be good if implemented, but they are frequently forgotten. A thought without a goal or deadline is merely a wish. Our CPA in 70808 wants you to make your goals visible to you and your entire team.

Measure Your Goals

How will you know if you achieved your goal if you cannot measure it? Goals should have a measurable standard. Perhaps your goal is to see a 20% increase in your monthly new client numbers in a 6 month time frame. By defining specific numbers and time frames, your goals will lead to action. Abstract goals are often set and missed. When a goal is clear and measurable, you can more easily create a plan that accomplishes the goal at hand. Once you’ve set measurable goals, make sure you have a method for evaluating them. Will you be reviewing your progress weekly, monthly, or quarterly? The time frame will vary based on the size of the goal and effort needed to evaluate change.

Evaluating your goal setting protocol will help you to identify areas of opportunity and areas that need improvement. It will help drive the success of your business. Contact our accounting firm in Baton Rouge, LA and let our experienced CPAs help you with your financial goal setting.

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808