INDUSTRIES

Manufacturing

As a manufacturer, you have your eye on the many challenges that come with your industry. The professionals at SDK CPAs have been there before and stand ready to offer ideas for increased efficiencies, keeping you up-to-date on new rules and regulations and serve as a sounding board as you grow your business.

SDK CPAs has experience working with manufacturing companies, giving us valuable insights regarding the accounting and financial services they need most. Like most businesses, they should always look for ways to save money, or to not lose it. That comes in various forms that many owners don’t know how to monitor, evaluate, take advantage of or change. Such as:

  • Staying in compliance with lenders and government entities.

    • It is challenging to apply and qualify for special programs as well as avoiding costly compliance mistakes.
  • Reducing their tax liability – Identifying activities eligible for R&D credits, accelerating depreciation deductions and doing regular cost segregation studies.

    • They often miss opportunities to save money and defer or reduce future taxes through employee and owner retirement benefit plans.
    • Multiple states – There are tax implications from functioning and receiving revenue in more than one state.
    • Planning new purchases and budgeting for tax advantage.
  • Benefit and retirement planning – Manufacturing businesses don’t always have the right type of benefit plan for the ownership/management group. They also have trouble determining how to fund it. They also want the best insurance plans for employees at a better price, but don’t always know where to go. Executive compensation plans require additional consultation.
  • Mergers and Acquisitions – Owners often over-estimate what their company is worth, so they are unprepared for considering mergers, acquisitions or even selling their company.
  • Knee-jerk reactions – Manufacturing companies can struggle with responses to problems after the fact rather than planning proactively. This can create additional problems.
SDK CPA

We work with our clients as partners. Along with years of experience working with manufacturing companies, SDK CPAs has the tools and resources to guide your company to the next level. We provide special value to our manufacturing clients in a variety of ways:

  • Personal attention – We’ve won new clients with 5-minute phone calls, taking time for questions regarding all manner of accounting that their CPAs aren’t doing. We walk beside our clients through the long haul by meeting regularly, going over financial statements, being the sounding board, bringing in new ideas and creating new agendas.
  • Shared wisdom – We have access to a large database of real-time, private company financial data. We can compare your business’ financial benchmarks to peer groups and return equity to those of other companies. We offer you valuable insights to improve your company’s performance in many areas.
  • Merger and Acquisitions – We know the pitfalls and benefits of mergers and acquisitions and prepare our clients by:

    • Valuation – Provide questionnaires to assess client questions, practices and steps they should take to facilitate a future M&A transaction. We understand what drives your company’s value. We calculate purchasing prices based on tax issues and meet with clients and attorneys so they all understand the numbers we come up with. We teach how valuation is determined so owners can always have an idea of their company value in their heads.
    • Profit cents benchmarking data – How much is my company worth relative to other companies?
    • We make sure other attorneys do their due diligence while we deal with all state and local tax issues.
  • Succession planning – We understand the choices available to owners in preparing for the next generation of leadership, which may or may not involve family members. We counsel on the best plan to benefit stakeholders, whether it’s staying in business, selling or closing before retirement.
  • Industry associations – Groups we belong to that benefit our manufacturing clients: Minnesota Precision Manufacturing Association (MPMA), Community Venture Network (CVN,) Association for Supply Chain Management (ASCM.)

Featured Services

Our manufacturing company services include the following areas:

  • Financial Accounting, Audit and Assurance Services
  • Tax Compliance and Planning, R&D Studies
  • Tax Accounting Remedies
  • Financial Reporting and New Accounting Standards Implementation
  • Merger And Acquisition Planning
  • Change Management and Planning, Succession Planning
  • Expert Valuation Reports
  • Benefit And Retirement Assessment and Planning
  • KPIs – Analysis of your company compared to industry peers and identifying your company’s strengths and weaknesses.

Our Team

Memberships

Minnesota Precision Manufacturing Association
Community Venture Network
Association for Supply Chain Management

SDK CPAs cares enough about our manufacturing clients to be there when they need us. We seek to be proactive by having orderly recordkeeping and accounting services that prepare your company for future changes, mergers and acquisitions as well as regulation compliance. We’re happy to personally address your questions when you contact us today.

Get in Touch