Few industries are as complex and have operational uncertainty like the manufacturing and distribution industry. At RMG, we have helped manufacturing companies and wholesale distributors for years with accounting, consulting and tax services. These are so our clients can better understand all operations and develop sound methods to report their financial condition and long term financial planning. The globalized economy has a ton of pressure that our team is equipped to handle, delivering real-world advice that will affect the bottom line.
Manufacturing & Distribution Industry Accounting Services
Budgeting & Cash Flow Projections
The process of predicting cash inflows and allocation cash outflow for a specific time period is known as cash budgeting. Cash budgeting relies heavily on cash flow projections due to this. Its purpose is to predict future financial liquidity over a future specific period of time.
Corporate Finance & Governance
Our corporate finance and corporate governance service for manufacturing and distribution is to research the behavior of firms and their relationship with capital markets. Corporate finance specifically focuses on finance dealing with the funding and capital structure of corporations. Corporate governance is a system of rules, practices and process by which a company is directed and controlled.
Cost Segregation Studies
At RMG, we also offer cost segregation studies for any client of ours in the manufacturing and distribution industry. Cost segregation is the practice of identifying assets and their costs and then classifying those assets for federal tax purposes. It is beneficial because it increases cash flow, reduces current tax liability, defers taxes and gives you ability to reclaim missed depreciation deductions.
Employee Pension and Benefits
Employee pensions are a fund that is set up with a sum of money that is added during an employee’s years of employment. Upon retirement, payments are drawn to support the person’s retirement from work. An employee pension is one of the best employee benefits an employee can have.
Supply Chain Management Strategies
Due to high-level forecasting and sales estimates, the company management has to make strategic decisions on how products will be manufactured. Other decisions include product development, customers, manufacturing, vendors and logistics.
General accounting can be applied to almost anything because it can be used in numerous basic principles and objectives. It deals with collection and the ledger of general account activity.
Information Technology Consulting
Otherwise known as IT consulting, this is a service that RMG offers that focuses on advising organizations on how they should use information technology to achieve their business goals.
This is also known as stock control, and it is the activity of checking a shop’s stock. We also offer advice on what technological systems and program software is necessary for managing our client’s inventory.
Manufacturing Improvement Efforts
We offer to assist our manufacturing and distribution industry clients in improving manufacturing efforts. This mainly includes advising in all programs, which will help reduce manufacturing costs.
During succession planning, we can help an organization ensure that employees are recruited and developed to fill every key role that exists within the company. It ensures your company will never have an employee that is not prepared for a new role.
At RMG, we will help with the analysis of a financial situation from our experienced tax perspective. It helps ensure your tax efficiency for your company as well as the most efficient financial planning.
Our valuation service, which mainly includes business valuations, is to determine the current worth of an asset or your company as a whole. We use a lot of techniques that we have learned over the years to determine each value.
Manufacturing and Distribution Services in New Jersey
RMG Accountants and Consultants in Parsippany, New Jersey offer the best services for the Manufacturing and Distribution Industry. To learn more about the other industries and services that we provide, contact us today.