LEVERAGE STRATEGIES FOR FINANCING
How to GET MONEY
from the bank when you
need it,
NOT WHEN THEY WANT TO GIVE IT TO YOU!
LEARN LEVERAGING STRATEGIES FOR FINANCING
ü Personal Budget
ü Credit History
ü Credit Score
ü Personal Financial Statement
ü Business & Marketing Plan
ü Pricing your product/service correctly.
ü Collateral
ü Owner’s Contribution
ü Character
ü Professional Guidance
ü The Right Banker
For further guidance on how to:
start and build your business and obtain financing :
Call S I Business Associates 412-828-2550
Business Tips from the Empress of Biz Host, JoAnn R. Forrester, Award Winning Serial Entrepreneur, Business Growth Specialist, Financial Mentor and Small Business Women and Minority Business Advocate.
Tuesday, January 22, 2008
Sunday, January 20, 2008
Is Your Accountant Facilitating Cost Control
IS YOUR ACCOUNTING FACILITATING COST CONTROL?
Ask yourself these questions for the answer.
1. Do you have an accountant? ______Yes ______ No
2. What does he/she do for you?
A. Payroll__________
B. Income Tax_______
C. Profit Loss Statements__________
D. Financial Guidance__________
E. Other ___________
3. How often do you see them?
Monthly
Quarterly
Six months
Yearly
4. How do you determine what your overhead is?
5. Has your accountant told you what your breakeven point is for the year? _____Yes ___ No
6. Do they tell you what your overhead is
a. daily, __Yes ___No
b. monthly __Yes____No
c. yearly ___Yes___No
7. Do you know the difference between tax accounting and cost accounting? _____Yes ___ No
8.. Is your accountant a tax accountant or a cost accountant? _____Yes ___ No
9. Has your accountant given you a recommendation for accounting software and estimating software? _____Yes ___ No
10. How much construction experience does your accountant have?
Computers/Software
Do you have a computer?
Are you familiar with the computer?
Do you have a laptop?
What do you use the computer for?
What do you use your laptop for?
How do you do your estimating?
By hand
By spreadsheet
By estimating software
Hire an estimator?
How much did you pay for your software?
Who recommended it?
How much time did it take for you to learn the software?
Did you get any professional training?
How much did you pay?
Do you get ongoing services from the software company?
How often do you use your estimating package?
What do you like about your software?
What do you not like about your estimating software?
How does you software determine what overhead is assigned to the job?
Do you use computer-estimating software?
What estimating package
Does your accountant recommend any software for accounting?
Does your accountant recommend any software for costing or estimating?
Who keeps your book?
You family member or employee
How often do you consult with your accountant on your business?
Do you separate your costs from running the office to running the job?
Does your accountant n the office or you hand it to your accountant monthly, quarterly, every six months or yearly
Who uses it in the office?
Do you have a laptop?
Do you use a book/such as national estimator to do your bids?
How much do you pay for accounting a year?
How much do you pay for estimating a year?
Are you making the kind of money that you would like?
Do you make money on each job?
If not—what goes wrong?
Ask yourself these questions for the answer.
1. Do you have an accountant? ______Yes ______ No
2. What does he/she do for you?
A. Payroll__________
B. Income Tax_______
C. Profit Loss Statements__________
D. Financial Guidance__________
E. Other ___________
3. How often do you see them?
Monthly
Quarterly
Six months
Yearly
4. How do you determine what your overhead is?
5. Has your accountant told you what your breakeven point is for the year? _____Yes ___ No
6. Do they tell you what your overhead is
a. daily, __Yes ___No
b. monthly __Yes____No
c. yearly ___Yes___No
7. Do you know the difference between tax accounting and cost accounting? _____Yes ___ No
8.. Is your accountant a tax accountant or a cost accountant? _____Yes ___ No
9. Has your accountant given you a recommendation for accounting software and estimating software? _____Yes ___ No
10. How much construction experience does your accountant have?
Computers/Software
Do you have a computer?
Are you familiar with the computer?
Do you have a laptop?
What do you use the computer for?
What do you use your laptop for?
How do you do your estimating?
By hand
By spreadsheet
By estimating software
Hire an estimator?
How much did you pay for your software?
Who recommended it?
How much time did it take for you to learn the software?
Did you get any professional training?
How much did you pay?
Do you get ongoing services from the software company?
How often do you use your estimating package?
What do you like about your software?
What do you not like about your estimating software?
How does you software determine what overhead is assigned to the job?
Do you use computer-estimating software?
What estimating package
Does your accountant recommend any software for accounting?
Does your accountant recommend any software for costing or estimating?
Who keeps your book?
You family member or employee
How often do you consult with your accountant on your business?
Do you separate your costs from running the office to running the job?
Does your accountant n the office or you hand it to your accountant monthly, quarterly, every six months or yearly
Who uses it in the office?
Do you have a laptop?
Do you use a book/such as national estimator to do your bids?
How much do you pay for accounting a year?
How much do you pay for estimating a year?
Are you making the kind of money that you would like?
Do you make money on each job?
If not—what goes wrong?
Unique Features of Price It Perfect Cost Control Program
Small Business Solutions, LLC
Phone: 412-828-2550
Fax: 412-828-2616
Unique features
of
Price It Perfect
1. Develops an accurate Gross Margin for the company
Separates the Cost of Sales from the Administrative Expenses for the particular business.
2. Develops a Break Even Point of Sales for the company.
1. Monthly
2. Weekly
3. Daily
4. Hourly
3. Allows the operator to choose time periods of operation to recover Administrative Expenses. This is important for seasonal businesses.
1. Weeks per year
2. Days per week
3. Hours per day
4. Includes recovery of capital investment in pricing.
5. Allows planned Return on Investment to be included in pricing.
6. Offers a Production Sheet which develops
1. Different labor rates and labor burden for crews or divisions
2. Cost per hour and day for each crew or division.
3. Charge per hour and day for each crew or division.
4. Total wages paid per day.
5. Total wages billed per day.
6. Total Administrative Expenses distributed per day.
7. Allows Administrative Expenses to be distributed unequally among products or services.
8. Allows different Gross Margins to be planned for different products or services.
9. Offers a Pricing Sheet for each division which is automatically loaded with the labor rates and labor burden for that division.
10. Allows duplication of an estimate to record actuals to determine how accurate the estimate was.
11. Offers the opportunity to build an inventory of estimates and jobs which can be duplicated to provide similar estimates quickly.
12. Indicates accurately the amount of Administrative Expenses, which must be picked up by each estimate.
13. Shows how a credit card sale affects the Administrative Expenses earned.
14. Allows Sales Tax to be paid on items purchased or added to the final price.
Allows a commission to be calculated in the price.
PRICE IT PERFECT TAKES THE MYSTERY OUTOF YOUR ESTIAMTING. QUIT GUESSING GIVE US A CALL AT 412-828-2550 FOR YOUR INITIAL DEMONSTRATION.
Phone: 412-828-2550
Fax: 412-828-2616
Unique features
of
Price It Perfect
1. Develops an accurate Gross Margin for the company
Separates the Cost of Sales from the Administrative Expenses for the particular business.
2. Develops a Break Even Point of Sales for the company.
1. Monthly
2. Weekly
3. Daily
4. Hourly
3. Allows the operator to choose time periods of operation to recover Administrative Expenses. This is important for seasonal businesses.
1. Weeks per year
2. Days per week
3. Hours per day
4. Includes recovery of capital investment in pricing.
5. Allows planned Return on Investment to be included in pricing.
6. Offers a Production Sheet which develops
1. Different labor rates and labor burden for crews or divisions
2. Cost per hour and day for each crew or division.
3. Charge per hour and day for each crew or division.
4. Total wages paid per day.
5. Total wages billed per day.
6. Total Administrative Expenses distributed per day.
7. Allows Administrative Expenses to be distributed unequally among products or services.
8. Allows different Gross Margins to be planned for different products or services.
9. Offers a Pricing Sheet for each division which is automatically loaded with the labor rates and labor burden for that division.
10. Allows duplication of an estimate to record actuals to determine how accurate the estimate was.
11. Offers the opportunity to build an inventory of estimates and jobs which can be duplicated to provide similar estimates quickly.
12. Indicates accurately the amount of Administrative Expenses, which must be picked up by each estimate.
13. Shows how a credit card sale affects the Administrative Expenses earned.
14. Allows Sales Tax to be paid on items purchased or added to the final price.
Allows a commission to be calculated in the price.
PRICE IT PERFECT TAKES THE MYSTERY OUTOF YOUR ESTIAMTING. QUIT GUESSING GIVE US A CALL AT 412-828-2550 FOR YOUR INITIAL DEMONSTRATION.
Is Your Pricing Creating A Crisis in Your Business
PRICE it PERFECT!
IS YOUR PRICING
CREATING A
CRISIS
IN YOUR BUSINESS?
Are you plagued by:
Ø Changing Market Conditions
Ø Economic Downturn
Ø Small Challenges Becoming Major Obstacles
INSTANT COST CONTROL
With PRICE it PERFECT Cost Management
ü GAIN control of your business
ü STABLIZE your business.
ü INCREASE your business
ü CREATE options
ü COMBAT Economic “bad” times
ü CONTROL the Factors in Your Business
ü DECIDE Your Future
ü PRODUCE Dollars You Need to Prosper
Price It Perfect
The Perfect Solution for a Prosperous Business!!!!
Call today for your initial no charge consultation.
Website: www.sibusinessassociates.com
Phone: 412-828-2550
PRICE it PERFECT is a division of S I Business Associates an established small business growth management firm serving W. PA since 1975
IS YOUR PRICING
CREATING A
CRISIS
IN YOUR BUSINESS?
Are you plagued by:
Ø Changing Market Conditions
Ø Economic Downturn
Ø Small Challenges Becoming Major Obstacles
INSTANT COST CONTROL
With PRICE it PERFECT Cost Management
ü GAIN control of your business
ü STABLIZE your business.
ü INCREASE your business
ü CREATE options
ü COMBAT Economic “bad” times
ü CONTROL the Factors in Your Business
ü DECIDE Your Future
ü PRODUCE Dollars You Need to Prosper
Price It Perfect
The Perfect Solution for a Prosperous Business!!!!
Call today for your initial no charge consultation.
Website: www.sibusinessassociates.com
Phone: 412-828-2550
PRICE it PERFECT is a division of S I Business Associates an established small business growth management firm serving W. PA since 1975
Cost Accounting vs. Tax Accounting
PRICE IT PERFECT
COST ACCOUNTING vs TAX ACCOUNTING
Biggest difference is direction.
Tax accounting reports history, events of the past. It does not provide decision making information. Tax accounting is just that. Accounting to determine the amount of Tax you owe the government.
Cost accounting is a financial tool that tells you where you are today, what to charge for your product and how much you have to sell at that price. Cost accounting also allows you to perform future projections based on today’s data.
No where on your tax statement do you see an accurate Gross Margin. For instance the Government has set guidelines for depreciating long term assets. They do not consider that a car that may last 10 years may need replaced in 6 months, or a year, or two years, depending on use. This depreciation (tax accounting) amount is used in determining your Gross Margin for tax purposes. You need to recover the cost of that car in 6 months, not ten years. Cost accounting allows you to specify the useful life of any item, or the number of months/years you need to recover the cost of such an investment.
Common Small Business Comparison
COST ACCOUNTING TAX ACCOUNTING
Price per item sold X
Capacity of your business X
Market variables X
Completed Sales X X
Cost of Sales X X (historical)
Total Expenses X X (historical)
Depreciation X
Recovery of Investment X
Net profit of Business X X
Net profit by product X
Establish prices X
Establish sales & production targets X
What if projections X
Shows impact on pricing based on
daily changes X
Minute Costs X
Hourly costs X
Daily Costs X
Weekly Costs X
Monthly Costs X X
Yearly Costs X X
You are or have been keeping all the information necessary to do Cost Accounting and until now have only benefitted from tax accounting report. Tax accounting only reports. Cost accounting allows you to analyze your company.
Big Business does detailed cost accounting with expensive departments and software.
Price it Perfect makes cost accounting available to small businesses at a price they can afford..
Don’t wait to be in charge of your business.
Get the facts TODAY
Know what it costs today to run your business
and win profitable bids.
For further information and a
no cost demonstration
call S. I Business Associates
412-828-2550
and ask for JoAnn R. Forrester
for your no-cost demonstration
COST ACCOUNTING vs TAX ACCOUNTING
Biggest difference is direction.
Tax accounting reports history, events of the past. It does not provide decision making information. Tax accounting is just that. Accounting to determine the amount of Tax you owe the government.
Cost accounting is a financial tool that tells you where you are today, what to charge for your product and how much you have to sell at that price. Cost accounting also allows you to perform future projections based on today’s data.
No where on your tax statement do you see an accurate Gross Margin. For instance the Government has set guidelines for depreciating long term assets. They do not consider that a car that may last 10 years may need replaced in 6 months, or a year, or two years, depending on use. This depreciation (tax accounting) amount is used in determining your Gross Margin for tax purposes. You need to recover the cost of that car in 6 months, not ten years. Cost accounting allows you to specify the useful life of any item, or the number of months/years you need to recover the cost of such an investment.
Common Small Business Comparison
COST ACCOUNTING TAX ACCOUNTING
Price per item sold X
Capacity of your business X
Market variables X
Completed Sales X X
Cost of Sales X X (historical)
Total Expenses X X (historical)
Depreciation X
Recovery of Investment X
Net profit of Business X X
Net profit by product X
Establish prices X
Establish sales & production targets X
What if projections X
Shows impact on pricing based on
daily changes X
Minute Costs X
Hourly costs X
Daily Costs X
Weekly Costs X
Monthly Costs X X
Yearly Costs X X
You are or have been keeping all the information necessary to do Cost Accounting and until now have only benefitted from tax accounting report. Tax accounting only reports. Cost accounting allows you to analyze your company.
Big Business does detailed cost accounting with expensive departments and software.
Price it Perfect makes cost accounting available to small businesses at a price they can afford..
Don’t wait to be in charge of your business.
Get the facts TODAY
Know what it costs today to run your business
and win profitable bids.
For further information and a
no cost demonstration
call S. I Business Associates
412-828-2550
and ask for JoAnn R. Forrester
for your no-cost demonstration
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