Accounting - Reporting



Crucial to the success of any business is the accurate projection of revenue and expenses. Freedom Services' team of accounting professionals has extensive experience in this area and works with our partners to incorporate short and long term business plans into the budgeting process so that the targeted net income is achieved both in the current year and future periods. Components of this process include:

  • Annual line item budgets prepared based upon historic costs combined with anticipated changes in the current economic conditions and/or business plans. Communication during this process is imperative to ensure that projected sales volumes and related costs are accurately reflected in the budget. 
  • The final budget will be updated throughout the year to incorporate significant business changes that have been made. 
  • One, three and five year proforma plans will be completed based upon estimated economic conditions and the business criteria that is provided by our partners. 
  • On a monthly basis a comparison of actual and budgeted results will be completed with a detailed explanation of why any variances in excess of a predetermined amount have occurred. 
  • A bi-monthly analysis of the pricing logic by product line will be completed to evaluate whether the revenue being generated is sufficient to cover both actual expenses and the desired profit. 



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