The Road Map to Your Financial Future | AG Company

Baton Rouge Accountant

A financial advisor is a partner in your financial planning. Assume you want to retire in 20 years or send your child to a private university in ten. To achieve your objectives, you may want the assistance of a competent expert with the necessary licenses; this is where a financial advisor comes in.

Together with your advisor, you will discuss a wide range of topics, including how much money you should save, the types of accounts you should maintain, the types of insurance you should have, and estate and tax planning.

They are not only financial advisors but also teachers. Among the advisor’s responsibilities is providing guidance on how to achieve long-term financial goals. A variety of financial topics may be discussed in detail during the educational process. Early in your relationship, budgeting and saving may be discussed. As your expertise grows, you will be able to understand more complex tax, investment, and insurance issues.

Prior to providing you with financial advice, it is essential that they first understand your financial situation. You cannot prepare for the future if you do not know where you are today. In most cases, you must submit a detailed written inquiry with your financial details. Providing this helps the advisor better understand your situation and ensures that important information is not missed.

Your financial advisor will gather information about your assets, obligations, income, and spending. In addition, the information provided should include future pensions and income sources, estimate retirement needs, and outline any long-term financial obligations. Simply put, you will create a list of all of your existing and future assets, pensions, gifts, and sources of income.

By providing investment information, an advisor can examine more personal matters, such as risk tolerance and risk capacity. When it comes time for your investment advisor to determine your asset allocation, knowing your risk can be helpful. It is also important that you make sure you explain your investment preferences to the advisor.

Financial advisors combine all of this preliminary information into a comprehensive financial plan that serves as a road map for your financial future. The initial assessment consists of reviewing the most important findings from the information you provided, followed by assessing your current financial situation, including your net worth, assets, liabilities, and cash or working capital. Additionally, a financial plan summarizes the objectives discussed with your advisor.

If you wish to learn how a financial advisor can help you with your financial goals, please contact us today. Our Baton Rouge CPA team is here to help you.

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

Baton Rouge LA CPA | Safeguard Your Business with a Specialized CPA

When it comes to managing the financials of your business, you need an accounting professional that employs a high degree of attention to detail. That’s why hiring a certified public accountant (CPA) should be one of the first moves you make.

A CPA’s reach extends further than just balancing your financial statements at the end of each quarter. Instead, think of a CPA as more of an advisor. Their role is to guide you through the various pitfalls and obstacles that can encumber business owners. Overseeing point of sale transactions (POS), billing, cash flow, and accounts receivables/payables are just some of the routine tasks covered by a CPA. However, unlike a general accountant, a specialized CPA can advise you on industry-specific best practices.

Sound Financial Advice for Business Owners

Many business owners typically find it difficult to relinquish control over their office finances. However, a specialized CPA can provide additional insight that strengthens the overall financial health of your business, such as whether your staffing matches your production levels. They can guide you on timing when it comes to investing in new equipment and give you tips on what to do now to minimize tax payments later. Are you thinking of expanding your building or bringing in another investor? CPAs provide the extra set of eyes and financial advice you need when making important business decisions where your emotions might cloud your judgment.

Fraud Prevention

Unfortunately, fraud is also a common occurrence in business. Its source can originate both internally and externally. Losses from employee theft or insurance claim irregularities can quickly accumulate into thousands of dollars. If not caught in time, fraud can irreparably damage the business you’ve worked so hard to grow. An experienced, specialized CPA is well-aware of the common origins, red flags, and methods associated with such industry-specific fraud cases. Their keen understanding of how to implement fraud-deterrent policies and procedures will help protect your livelihood. Even when no fraud is suspected, it’s a good idea to conduct a risk assessment to gauge the likelihood that it could occur in the future.

A Smart Investment for Your Business

Running a profitable business goes far beyond crunching numbers on a spreadsheet. A specialized CPA will be able to listen to and communicate clearly with you and your staff when it comes to goals and best practices. Their intricate understanding of the variables that sway your business’s production comes into play on a daily basis.

Partnering with a CPA can undoubtedly guide you towards a successful and profitable future in your field. Contact Apple Guerin Company LLC today for a consultation.

 

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

Baton Rouge LA CPA | How to Avoid Becoming a Victim of Employee Embezzlement

Let’s face it: As a business  owner, you have many responsibilities. Juggling the demands of clients, overseeing staff, and monitoring financial transactions can be overwhelming. That’s why putting safeguards and internal controls in place is so important, to help you avoid the risk of theft from employees. While it may be hard to imagine that the smiling face you hired to greet visitors could be stealing from you, that kind of naivety has cost business owners thousands of dollars in annual revenue. It can be difficult to prevent employee theft, but educating yourself now and putting processes in place to better secure your financial picture can help minimize the possibility of it happening to you. Here are some tips to get you started.

Know Who You’re Hiring
It’s not enough to select a new employee based on their resume or personality. Your new hire will likely be handling confidential information, so anyone whom you consider bringing on board should undergo a professional background check. You should also request references, including contact information from their previous employer. 

Learn as Much as (and More Than) Your Employees
Over time, employees may see which clients pay with cash, who writes checks, the average daily and weekly deposit amounts, and how much money comes in from outside sources. This is information you should be familiar with as well. Require that each employee log these details in your accounting software and ask your accountant to help you create a program that includes a check and balance system with daily opening and closing reports. That way, either you or your accountant can run and analyze these reports—never an employee.

Delegate Shared Responsibilities
No individual in your office should control any financial process from start to finish, so make sure you establish and implement a team approach to these tasks. This will let you know who recorded which transactions and create a higher degree of accountability among your staff.

Look for Common Red Flags

You should always keep an eye out for common indicators that an employee might be stealing from the practice. Pay attention if someone on your team is suddenly spending beyond their means, is always the first in the building and last to leave, or is overly protective or secretive of their work. 

Schedule an Outside Audit 

Serious financial damage can add up quickly if you’re the victim of embezzlement, so it’s important to periodically hire an outside accountant to review your finances and look for irregularities. He or she will be able to monitor your employees’ work and catch errors, mistakes and theft.

If you notice that the numbers in your business aren’t adding up, it’s best not to tell anyone on your staff since the suspect could find out and destroy incriminating evidence.  Instead, talk to a trusted CPA first so they can put a fool-proof process in place to catch your thief and get your money back in your business where it belongs. If you have any questions or would like to schedule an appointment to learn more, contact Apple Guerin Company LLC today.

 

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

Baton Rouge CPA | Why a Real CPA is Still Better Than Any Accounting Software

As humanity expands ever outward into the digital age, the number of available accounting software that claim to be able to do it all for your practice are only going to increase. While you may be tempted to believe these claims, the truth is this: a real accountant is still better for your business than any software. Why? We’re glad you asked.

Contrary to most people’s opinions of accountants, basic math is not our speciality. We allow computers to do most of the math for us in order to save ourselves the time to analyze and interpret the results.

Any computer can do the work it takes to balance your numbers, but none of them can understand whether those numbers are actually right, or what they mean to the financial future of your business. Conversely, an accountant has the capability to analyze the financial health of your business by comparing your numbers to benchmarks set by successful businesses, tracking progress through past years, and determining proper overhead costs.

Our team is also here to help advise you on your goals, and what decisions need to be made in order to meet them. Another pitfall of software programs that many do not realize is that they can only tell you when something is wrong. Most of them are unable to tell you exactly why something is wrong and none of them are able to help provide you with a specialized solution.

Accountants know which financial strategies work in your field and which do not, because we have the experience to do so. Not only can we do the math, but we provide support during a financial emergency, or even when you just want to learn how to spend your money more wisely. 

While there is no arguing that these software tools can be useful in the right hands, they are often only as good as the person using them. If an inexperienced individual is attempting to manage all of their finances on their own, it may result in costly errors that could have been avoided with a professional.

Wherever you are on your career journey, an accountant can help you find success. Help your business and yourself with professional accounting services from our team. We can assist you with everything from tax prep and minimization to business management, start up services, retirement planning, and yes, bookkeeping. Contact Apple Guerin Company LLC today to get started. 

 

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

Certified Public Accountant | 5 Qualities Your Next Accountant Should Have

CPA Near Me

The easiest way to gage how well your business is doing is to hire a professional accountant. However, not all accountants are the same, and you should know what you’re looking for before you trust your business to anyone. As you research your options, make sure your next accountant has these five qualities.

Informed

It may seem like a no brainer, but your accountant should be an expert in bookkeeping and accounting specific to your industry. Make sure they know the best options for your unique business and stay on top of related financial details and information. 

Organized

If you’ve tried to do your accounting yourself, you know just how quickly it can turn messy. Hire an accountant that knows how to clean up the mess and keep it that way. Not only will this allow you to reach your goals faster, but it will also help ensure your business is both efficient and compliant. 

Credible

Trust is one of the most important factors when deciding on an accountant. You are often putting your business, your finances, and your life in their hands. In this case, reputation means everything. Find out everything you can about the company and accountant before signing anything. Consider contacting professional references for testimonies.

Responsible

The devil is in the details, and one mistake could cost your business dearly. Discuss the ways that your accountant would avoid mistakes and stay familiar with your finances. You spend a lot of time familiarizing yourself with your clients, and an accountant needs to do the same with your business. 

Dedicated to You 

The top accountants understand that customer service is paramount. Your accountant should go above and beyond to help your business become successful. Our team knows this to be the case, and gives each of our clients the respect and dedication they deserve. Contact our accounting office today and see how a great accountant can help you.  

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