Rock Start Accountant!
This was the endorsement of American accountant, Adam Hale, Principal of Summit CPA by Christian Wielage, Managing Director, PlanGuru in the webinar presented to Australian Accountants by the Academy of CPAs (Certified Predictive Accountants) last week.
Wielage, indicated that the innovation in accounting services for SMEs in the United States developed by Summit warranted a “ROCK STAR” acknowledgement.
Summit CPA has revolutionised the American accounting industry relative to the range of advanced services that the firm is providing to assist SME clients to grow and add value to their enterprises.
Summit’s key compulsory service is “FINANCIAL FORECASTING” which incorporates financial projections centred on Budgets, Cash Flow Forecast and Projected Balance Sheets interfaced with a range of supporting documents. If any potential client indicates that they do not want this service they are referred to another firm.
Summit also offers a “back office service which can incorporate payment of accounts and wages. About one third of their clients elect to receive this service.
The firm also offers the traditional “compliance services relating to taxation” which most of their clients elect to receive.
“FINANCIAL FORECASTING” is the most important task that accountants can perform.” Adam Hale
Summit CPA’s annual fees which are paid weekly (meaning that the firm has virtually no lock-up!) range from US$40,000 – US$200,000 with an average of approximately US$80,000.
Summit CPA recently merged with the 90th largest accounting firm in the USA which has a total of 45,000 firms. In the determination of valuation Summit CPA was valued at a figure four times higher than what applies to a normal accounting firm in the USA. This is a multiplier of around 10 of the future maintainable profit.
Andrew Geddes an “Australian Accounting Industry Guru” who viewed the webinar described the presentation as “EXCELLENT” and in a podcast recorded two hours after the webinar with Peter Towers, Managing Director, ESS BIZTOOLS made the following comment:
“IT’S A NEW BUSINESS MODEL – I THINK IT’S GOING TO REVOLUTIONISE ACCOUNTING WORLDWIDE”!
The Academy of CPAs is presenting a follow-up free webinar on Thursday, 4 August 2022 at 11:30am AEST – you can register for the webinar by clicking here.
Want to know more about the journey that Summit CPA have undertaken? You can view the webinar recording (60 minutes) by clicking here.
You can view the podcast recording of Andrew Geddes discussing the new business model introduced by Summit CPA by clicking here.
Further information on “Predictive Accounting Services” is available at www.essbiztools.com.au.“