Practical Accounting Services

Explanation of Services

I offer a full line of practical accounting services ranging from simple email coaching to more comprehensive business analysis and recommendations, based on you and your company’s specific needs.

My practical accounting services follow the same principles covered in my book, “Cover Your Nut.”  We customize your accounting software to utilize the unique factors of your business.  Our practical accounting services teach you how to apply these principles to your management financial statements. In managing any business the goal should be to develop a basic understanding of practical accounting, with the result being the ability to read your financial statements from the reports supplied by a software program like QuickBooks.

bpa practical accounting services show the business owner the advantage in establishing an accounting system that will give them management financial statements.  Rather than financial statements required by a financial institution to establish a credit line.

Most business people really need to have an understanding of their accounting system as a management tool; but too many times receive advice from their accountant only regarding their tax planning.  Of course you need both, but the company financial statements should be giving you a better understanding of what is happening economically to your business in order for you to properly manage it.

For additional information on Face-to-Face or online practical accounting services, or for a fee schedule click here and complete the service request form.  If you would like our Sr. Consultant, RG Bud Phelps, to speak to your organization or small group click here and complete the small group speaking request form.  For general questions submit your contact information via our contact form.

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FAQ’s About Bud’s Practical Accounting Services

(click on each line to reveal each answer)

What are the BPA practical accounting services?

Bud’s practical accounting services supplies a full line of consulting services ranging – From comprehensive business system analysis with recommendations (based on you and your company’s needs) – To simple face to face or email coaching of practical accounting services.

Why should I need the skill of reading my own company's Financial Statements?

When you develop the skills related to reading your own company’s Financial Statements you are developing the skills to understand and monitor your business’s financial history.

What is Practical Accounting Coaching?

This is coaching you to navigate around your own accounting system, with an understanding of how the financial information ends up in your company reports, in effect its coaching you where financial information comes from and where it ends up in your system.

Why do I need to understand Navigating the Accounting Software program?

Being able to navigate around an accounting software program gives us an understanding about how financial transactions enter into the system and the results (what happened) through reports.

Why should a business man be involved in Chart of Accounts development?

The business owner or manager’s participation in the development or improvement of the Chart of Accounts will give him a much better understanding of the economic operations of their business.

Why should a business man Understanding Individual Key Revenue Sources?

This is not a trick question, the truth is that Sales (Revenue) is what makes the company’s world go around, therefore it is imperative that you totally understand all the sources of revenue (no revenue = no company).

What Keys should you look for on the company's Balance Sheet?

A simple answer is that you need to quickly see what the major accounts are and know what you are looking for.

What Keys should you look for on the company's Income Statement?

You need to see how each group of accounts (Cost of Goods, Operating Exp, Selling Exp, and Admin Exp) relate to total Revenue.

RG Bud Phelps authored, Cover Your Nut – Practical Accounting in Plain English for the Real World, as a great guide book to understand what practical accounting services can do for you.

Final-cover-Cover-Your-NutThe book shown above is available on Amazon has a paperback or as an Ebook – also as a signed paperback on 

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