Hogg, Shain & Scheck Chartered Accountants Announce New High Tech Financial Service
Chartered accountants Hogg, Shain & Scheck Professional Corporation have announced a new service that can model, predict, and report on various financial scenarios, which will help clients better manage their financial situation.
Online, April 30, 2013 (Newswire.com) - Chartered accountants Hogg, Shain & Scheck Professional Corporation have announced a new service called "Profit Driver" that goes beyond traditional accounting and tax services in Toronto. The service is based on new technology that can model, predict, and report on various financial scenarios. This new service can deliver unprecedented understanding of a business' financial standing by giving:
* A detailed analysis and interpretation of profitability, cash flow and financial growth
* "What if" scenarios to calculate and improve financial performance
* Projected financial data for the year (or a specific period)
* Anticipated profit and tax position assessments and initiatives suggestions
* Goal setting to visualize future improvements.
After calculating the details of possible financial situations for businesses, the Profit Driver system presents the results in a straightforward graphical representation. This helps businesses visualize and understand key financial variables so that they can effectively manage them. These variables include:
* Price
* Revenue
* Receivables
* Inventory
* Payables
* Cash flow and key ratios
The new system goes beyond traditional accounting services and provides a "health checkup" for businesses. Since this new technology can predict the outcomes of various scenarios, businesses no longer have to guess what the future will bring because all the possibilities are already outlined. If any aspect of a business' finances is not in order, Hogg, Shain & Scheck will be able to use "Profit Driver" to demonstrate the potential problem and develop possible solutions.
Accounting firm Hogg, Shain & Scheck are renowned for their services in all areas of accounting, auditing, taxation, and management consulting, and their innovation in information technology continues to propel their service offerings forward. They also have a reputation for developing strong client relationships and paying attention to clients' particular needs. By introducing their new "Profit Driver" software, they will better be able to help clients predict, understand, and manage their financial situation.
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