Financial management of
a veterinary practice is
challenging. Few
veterinarians have much
experience with setting up a
strong account system, preparing
accurate financial statements,
planning for taxes, or analyzing
data in order to determine
service costs and pricing.
Yet all of these tasks are
necessary in order to build a
financially successful practice.
At Cummings, Lamont &
McNamee, P.A., we provide
customized services to meet the
specific needs of your
veterinary practice. We
work with you in designing and
implementing veterinary practice
specific accounting and
information systems that provide
you with timely information
needed to compete in today's
veterinary practice marketplace.
ACCOUNTING SYSTEMS
We work with you to develop an accounting system that provides you with
accurate, timely financial information so you can analyze your practice's
performance and make sound business decisions. We do this by using
technology to set up a system that minimizes duplication of accounting
entries and maximizes efficiency and accuracy.
OPERATIONAL ANALYSES
We work with you to establish veterinary industry benchmarks and evaluate
your performance in order to increase efficiency, decrease costs and
maximize cash flow and profitability. We also work with you to develop
sound internal control practices to minimize the risk of accounting errors
and fraud.
OVERHEAD AND PRICING ANALYSES
We work with you to determine the true cost of your services, establish
profit centers and ensure you are properly pricing your services.
PRO-ACTIVE TAX PLANNING AND PREPARATION
From choosing the best retirement plan to complex acquisitions and
mergers, we work with you to minimize your tax burden and comply with an
ever increasingly complex tax code. We understand the tax issues
specific to owning and operating a veterinary practice, and how to best
structure the purchase or sale of your practice.
BANKING RELATIONSHIPS
We work with you to enhance your banking relationships. Bankers
must be confident that your financial reporting is accurate and reliable and
that you are working with a reputable accounting firm that understands the
veterinary industry.
BUYING, SELLING & MERGING
Whether you're thinking of buying, selling or merging a practice, we work
with you to prepare for these events. We can assist you in valuing
your practice or structuring a buy/sell transaction with an outside party or
an associate in a way that benefits all parties involved.
CFO SERVICES
By applying our full range of accounting, tax and consulting services on
an as-needed basis, we can serve as your Chief Financial Officer. Let us
train you or your staff to perform day-to-day bookkeeping functions using
QuickBooks while we close out your books on a monthly basis, review your
financial performance and compare your results to industry benchmarks,
assist you in preparing an annual budget, or plan for your taxes.
Back to Top
|
