AFB Business Solutions
Purpose...Plan...Performance...Profits
Business management begins with a proactive financial plan...
Solving business, management, and financial challenges before they get out of hand
AFB Business Solutions engages clients for helping them solve challenges facing them
with financial execution.

Review the
10 Problems Solved through Sound Financial Management to determine any
gaps that may be hindering you from realizing your performance or profit goals.  

Call us today for a free assessment and scoring of your financial management practices
(916) 585-9612

A consulting engagement involves a 3-step process:  Identification, recommendations, and
implementation plan.

For more information on the 4 Components of Sound Financial Management and the 10 Problems
Solved Through Sound Financial Management order the book
Customer-Driven Budgeting, Prepare,
Engage, Execute: A Small Business Guide
from the publisher Business Expert Press, NY, NY.  Click
on the following link to order:
Order Here
Sound Financial Management and Accounting Practices
4 Components of Sound Financial Management

Do you have the 4 Components in place?  Are they working for you for increasing your
performance and profit picture?
10 Problems Solved Through Sound Financial Management

Is your company meeting the financial management challenges below?  Need help
to work through them toward your performance and profit goals?
Sound financial management reaches into every organization in the company through
accounting, internal controls, planning, and budgeting.

1.        
Accounting - the foundation for all control business financial transactions;
includes practices, processes, and accounting software

2.        
Internal Controls – “...a process...designed to provide reasonable assurance
regarding the achievement of objectives for:
    a.        Effective and efficient operations
    b.        Reliability of financial reporting
    c.        Compliance with applicable laws and regulations” (Internal Control -
    Integrated Framework, Committee of Sponsoring Organizations of the Treadway
    Commission, 1994)

Internal controls point to two major components of a business: 1) performance and 2)
safeguards. The absence of these two components threatens a company's existence.

3.        
Planning - An essential element of a business that covers the three time frames
of the business: 1) past, 2) present, and 3) future. The old adage is as important now as
it was when it was first spoken: proper planning prevents poor performance.  Add to that:
Plan today for better performance and profits tomorrow.

4.        
Budgeting – The keystone for improved performance and profits.  Many
companies fail or suffer financial loses because of a lack of budgeting. Budgets set
targets, managerial controls, accountability, responsibility, and benchmarks.
    1.        The challenge of customer retention - By placing customers in the center of
    the financial management process, the company will not take them for granted and
    be prepared to address them.
    2.        The challenge of fading profits - Strengthens to company's bottom line.
    3.        The challenge of tax liabilities - Anticipates taxes and prepares for them.
    4.        The challenge of money management - Plans and allocates funds according
    to stated strategic objectives.
    5.        The challenge of theft, embezzlement, and fraud - Instills safeguards for
    closing gaps lending to losses.
    6.        The challenge of planning discipline - Reduces fire-fighting, tension, and
    haphazard execution.
    7.        The challenge of setting priorities - Reduces and eliminates activities and
    costs not contributing to stated objectives.
    8.        The challenge of communication and expectation - Provides clear direction
    for bringing about desired results.
    9.        The challenge of engaging the market - Allocates funds for crystallizes a
    plan to address markets and competition.
    10.      The challenge of measuring performance - Provides a framework for
    performance measurement and business execution.