Advisory Services

Advisory Services

Business Consulting

Best Roest & Co. Chartered Professional Accountants & Business Advisors, Advisory ServicesThis topic can encompass many different scenarios as every business has different needs. We can assist with topics such as cost analysis, inventory management, credit management procedures, accounting procedures and policies, departmental profitability, and human resources issues.

Cash Flow Management

Cash flow issues can be caused by such things as low profitability, slow accounts receivable collection, high debt repayments and increased shareholder draws. We can review the situation and give recommendations to ease the cash flow issue. We can also assist with obtaining financing from banks or other lenders.

Retirement and Estate Planning

Individuals should plan for their retirement. This involves ensuring there are sufficient assets and cash flow to survive the retirement years. There are many unknowns, such as the number of years a person will live after retirement or the level of care required in final years. The recommendations are, therefore, usually for conservative spending in order to ensure there are sufficient funds to last a person’s lifetime. Frequently individuals wish to leave some wealth for the next generation. Planning can be done in order to minimize income taxes and maximize wealth transfer. Life insurance policies are often purchased in order to pay estate taxes and provide wealth for beneficiaries.

Controllership Services

Frequently businesses have bookkeepers on staff but they require assistance to make sure the financial reports are complete and accurate. We are able to step in and make the final adjustments so that the interim statements are more accurate and provide the user with relevant information to use in the decision making process.

There are also other business decisions that benefit from a consultant’s input. Cash flow, relocation decisions, staffing levels, job descriptions, hiring processes, and lean inventory management are a few of the many topics that a consultant can assist the management team with.

AgriInvest and AgriStability

These two agricultural programs require significant knowledge of agricultural terminology and processes. Members of our team have many years of experience working with these programs and the successor programs (FIDP, CAIS and NISA). We are able to prepare the application forms for these programs and review the Confirmation of Program Benefits to ensure its accuracy.

Business Start Up

Many decisions need to be made before starting a business venture. The type of operation depends on various factors and are usually classified as one of the following; joint venture, partnership, proprietorship or corporation. Once the structure is determined, many accounts need to be created. This may include accounts such as WCB, GST, payroll, liability and property insurance, supplier accounts, and bank accounts. Leases need to be negotiated and any leasehold improvements need to be completed. Inventory needs to be ordered and staff need to be hired. Bookkeeping needs to be completed and maintained to ensure all important transactions are captured. There are many other steps that need to be done depending on your situation. We can help with many of these steps and make the start up phase of your business much smoother.