Testimonial/Case Studies
Case Study 1
Large International Company, preparing to sell a subsidiary had consistent turnover in accounting department and needed help in getting the books up to date as well as document all processes and procedures in order to prepare for the transition/transfer of business. There was very little documentation with no accountant in place. The owners wanted to make sure that the books were in order for year end audit, operational flow was documented, reconciliation of balance sheet accounts completed, daily financial operations performed, month end close process completed, consultation of monthly financial statements, and train new owner’s staff.

Action taken:

Analyze and document processes and controls.
Reconcile all balance sheet accounts including proposition of integration options.
Created repeatable processes that decreased the time needed for month end close, including financial statement consultation and increased efficiency of daily financial operations.
100% transfer of company knowledge to new owners that enabled them to continue the financial process with no downtime.
Case Study 2
Family Owned Business knew that they wanted to grow their business but didn’t know how they were going to get there. They had issues with employee relations, quality control, customer complaints, production, lack of understanding regarding financial statements, company culture, weak infrastructure to accommodate growth, and outdated company philosophy.
Action taken:

Owners felt uncomfortable with discussion of financial statements. I took away the mystery and educated them on what a financial statement means. No guess work but empowerment.
Upon review realized that treasury was being underutilized. Implemented treasury management infrastructure which saved the company time and money.
Reviewed, repaired and implemented accounting systems, company policies, and procedures which positively effected employee relations, quality control and customer complaints thereby creating a stronger infrastructure.
Accounting Bookkeeping, Bookkeeping Business, Business Accounting, Payroll Tax Services, Financial Consulting Services, Quickbooks Payroll, Quickbooks Training
Scott Financial Consulting Services Phyllis Scott CPA, CGMA
318 W. Main Street Arlington TX, 76010
Suite #202