When it comes to business advisory services offered by accounting firms, not all firms or service offerings are the same. Klein Hall CPAs, a Naperville and Aurora accounting firm, offer services under the Level 5 consulting framework.
The five levels represent the path, services and decision steps along the way, that Level 5 firms offer its business clients.
Level 1 includes foundational services that clients should expect from any accounting firm, such as tax return services, audit review, consulting write-ups and other general accounting services. Many firms stop at this level.
Level 2 is a two-part step process, during which accounting professionals analyze information and educate clients about critical ratios, and then conduct various “what-if” scenarios to help identify lost opportunities.
In level 3, accountants seek to help clients with planning for the future, by setting goals.
Level 4 builds on the first three levels by linking business activities and goals with financial goals, and then measuring and reporting on outcomes of those goals and activities.
Level 5 is focused on continuous improvement. Accounting firms offering this level of service seek to help clients monitor and strategically manage their business’ financial activities.
“Many accounting firms limit their business client engagements to the services offered at level 1, however we believe that approach actually does a disservice to clients,” said Christina Klein, Senior Partner at Klein Hall CPAs. “The Level 5 approach used by Klein Hall CPAs has been proven successful in businesses of all sizes and in any industry, because it’s designed to get, and keep, businesses on the right track.”
Is your accounting firm working to help you identify the gaps where your business is right now and where you want it to be in the future, and then proactively helping you get there? Contact Klein Hall CPAs, a Naperville and Aurora accounting firm, to learn more about how applying the Level 5 framework can help your business reach its next level.