Do you have good visibility into your financials?
Do you need help with your financial strategy?
Do you get your month-end close within the first 5 days of the month?
Is your cashflow forecast accurate?
At the core of every successful business lies reliable and accurate accounting processes. Our comprehensive accounting and finance services ensure your company can make smart business decisions. We handle everything from bank reconciliations to cash flow management to high-level CFO advisory. We will roll up our sleeves, do the dirty work, and streamline your accounting processes for optimal efficiency.
C-Level Strategy offers day-to-day accounting support on a part-time or ongoing basis. We provide added value to our clients by allowing them to buy all of our consultant’s knowledge but only pay for part of their time.
We are available on an “as-needed” basis. Our accounting consultants can help on a project- or interim-basis for companies that already have fully staffed accounting teams.
In addition to providing outsourced accounting services, CLS also specializes in helping clients hire full-time or temp-to-hire placements for accounting positions from staff accountants all the way up to the CFO level.
The primary difference between accrual and cash basis accounting lies in the timing of when revenue and expenses are recognized.
In accrual-based accounting, you record revenues and expenses when you earn or incur them, regardless of when the cash is received or paid. This method provides a more accurate picture of a company’s financial health by matching revenues to the expenses incurred to generate those revenues.
On the other hand, cash basis accounting recognizes revenues and expenses only when cash is received or paid. This method is more straightforward but can provide a less accurate picture of a company’s financial position, as it doesn’t account for money that is owed but not yet received or expenses that have been incurred but not yet paid.
Working capital is a financial metric representing the difference between a company’s assets and liabilities. It is a measure of a company’s short-term liquidity and operational efficiency.
Positive working capital indicates that a company has sufficient short-term assets to cover its short-term liabilities, essential for maintaining smooth operations, paying off short-term debts, and funding day-to-day expenses.
Negative working capital, on the other hand, might indicate potential liquidity problems, suggesting that a company might struggle to meet its short-term obligations. Managing working capital effectively is crucial for maintaining operational stability and ensuring the company can seize growth opportunities without excessive borrowing.
The main components of a company’s financial statements include the balance sheet, income statement, and cash flow statement.
The balance sheet provides a snapshot of a company’s financial position at a specific time, showing its assets, liabilities, and shareholders’ equity.
The income statement, also known as the profit and loss statement, shows the company’s revenues, expenses, and net income over a period of time, highlighting its profitability.
The cash flow statement details the inflows and outflows of cash during a period, categorized into operating, investing, and financing activities.
Together, these statements provide a comprehensive overview of a company’s financial health, performance, and cash flow dynamics, essential for investors, management, and other stakeholders.