Accrual accounting has the opportunity to give businesses long-term clarity, helping them plan for future expenses, manage receivables, and allocate resources more effectively. Learn how to make the switch in five steps.
CostSense
Business Consulting and Services
Vaughan, Ontario 278 followers
Clear Financial Vision for Your Business
About us
We transform your accounting challenges into financial strategies, and take the complexity of finance management off your shoulders. Our expert team provides strategic support, turning accounting headaches into assets, paving the way for your business's growth and success through insightful financial guidance. Bookkeping Experience full-time quality at part-time prices with our customized bookkeeping services, enhanced by expert fractional CFO guidance for your business's financial success. Accounting Premium accounting services delivering reliable financial data for owners, aiding decision-making, and ensuring credibility for lenders and shareholders. Fractional CFO Strategic CFO services dedicated to assisting owners with crucial decision-making, fostering company growth, and steering businesses towards long-term success and profitability. Experienced Financial professionals with extensive experience in various industries Top-rated Trusted service provider of small and medium-sized businesses Certified Charted Professional Accountant (CPA) Ontario Certified Management Accountant (CMA) USA
- Website
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www.costsense.ca
External link for CostSense
- Industry
- Business Consulting and Services
- Company size
- 2-10 employees
- Headquarters
- Vaughan, Ontario
- Type
- Privately Held
- Founded
- 2023
- Specialties
- Bookkeeping, Accounting, Fractional CFO, Fractional Controllership, Business planning, Cash Flow Forecasting, Budgeting, Management Accounting, and Project Accounting
Locations
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Primary
Get directions
71 Marycroft Ave
Vaughan, Ontario L4L 5Y6, CA
Employees at CostSense
Updates
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Is cash flow king? 👑 We've got the answers in our latest newsletter
Why is Cash Flow King?
CostSense on LinkedIn
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Let's talk about the BIG 3 👀 Income Statement, Balance Sheet, and Cash Flow Statement
Understanding the Big Three: Income Statement, Balance Sheet, and Cash Flow Statement
CostSense on LinkedIn
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Adapting to change and making the right decisions for business is critical for growth. One of our most powerful tools is the 3-statement financial model. Discover what it is and why it's critical to your business in our latest newsletter ✅
3-Statement Financial Models: A Key to Smarter Decisions
CostSense on LinkedIn
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Financial Planning & Analysis (FP&A) is a critical finance function that focuses on budgeting, forecasting, financial reporting, and analyzing a company’s financial performance. FP&A can be incredibly valuable for Small and Medium-sized Enterprises (SMEs), providing them with the tools and insights needed to navigate financial challenges, support growth, and ensure long-term success. Read the full newsletter to learn more 📒
What is FP&A, and How Can it Drive Growth for a Business
CostSense on LinkedIn
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What is DuPont Analysis? How does it help your business? Find the answers in our latest newsletter 🔍
What is DuPont Analysis & How it Helps Your Business
CostSense on LinkedIn
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🔍 Keeping an eye on financial health isn’t just a checkbox—it’s vital for your business’s success. Regular check-ins give you a clear picture of where you stand, help you spot potential issues before they become big problems, and uncover new growth opportunities. It’s like having a financial roadmap that guides you through both smooth and rough patches. By staying proactive, you can make smarter decisions, adapt to changes, and set your business up for long-term success. Read our first edition of our newsletter on financial health checks today 📖
Why Regular Financial Health Checks Are Vital for Your Business Success
CostSense on LinkedIn
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Great post about financial forecasting for startups. The key thing is the simplicity and clarity.
Startup Bookkeeping, Fractional CFO, & Fractional Controller services at Margin. We provide financial clarity and insights to help startups and small businesses grow.
The basics of finance for startups: This is crucial for the success of your startup. Here are some key steps to get you started: 1. 𝗕𝘂𝗶𝗹𝗱 𝗮 𝘀𝗶𝗺𝗽𝗹𝗲 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁 Start with a straightforward financial forecast. Include your expected revenue and expenses over a certain period. 2. 𝗖𝗹𝗼𝘀𝗲 𝘆𝗼𝘂𝗿 𝗯𝗼𝗼𝗸𝘀 𝗮𝗻𝗱 𝗰𝗼𝗺𝗽𝗮𝗿𝗲 𝘁𝗵𝗲𝗺 𝘁𝗼 𝘁𝗵𝗲 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁 At the end of each period, close your books and compare the financial outcomes to your forecast. This will help you identify any discrepancies and understand where your assumptions were off. 3. 𝗥𝗲𝗳𝗶𝗻𝗲 𝘆𝗼𝘂𝗿 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁 Use the insights you got from the previous step and make the necessary adjustments. This will help you improve the accuracy of your predictions over time. 4. 𝗔𝗰𝘁 𝗮𝗰𝗰𝗼𝗿𝗱𝗶𝗻𝗴𝗹𝘆 Take action: • Adjust your budget • Change your marketing strategy • Reallocate resources • Insights are worthless if you don't execute them 𝗗𝗼𝗻'𝘁 𝗸𝗻𝗼𝘄 𝗵𝗼𝘄 𝘁𝗼 𝗰𝗿𝗲𝗮𝘁𝗲 𝗮 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁? Here's how in 10 steps: 1. Gather and analyze historical data 2. Assess market conditions 3. Identify trends 4. Adjust for seasonality 5. Plan for contingencies 6. Identify revenue drivers 7. Forecast future revenue 8. Forecast future expenses (keeping in mind what it’ll take to find and deliver that revenue) 9. Set goals and benchmarks 10. Update it regularly This is the 80/20 of finance. Don’t overcomplicate it. — If you liked this post, follow Matt McMichen, CPA for more.