About Shurts Accounting
I, Russell Shurts, am a semi-retired CFO with 35 years experience who can help any small business get their books in order or provide an on-going bookkeeping and/or financial reporting service.
I also have a great deal of experience (21 years) handling the business and financial affairs of wealthy individuals including tracking their investments and taking care of the various entities they invariably create to handle their wealth.
I have significant experience in tackling projects such as:
- Cash flow analysis
- Developing systems for tracking cash flow
- Guiding computer accounting system installations and/or conversions
- Cost accounting work
- Inventory tracking
- Valuation--to list just a few of the projects I've successfully handled.
Finally, I understand the most important qualities an accountant must have are related to his character, i.e. his honesty, integrity and objectivity. Please look at the testimonials on my website to see how well I have lived up to this creed.
Small businesses of all kinds. Wealthy individuals and their families, privately-owned companies, manufacturers, real estate companies. companies experiencing cash flow problems, companies needing to get their accounting and administrative procedures better organized, companies needing a better handle on their costs, companies with especially difficult finance or accounting problems needing a creative solution.
Microsoft Office in particular Excel,
Questions and Answers
What types of jobs are the most common?
Bookkeeping - simply keeping track of accounting information in an organized set of books.Financial Reporting - providing a Balance Sheet and Income Statement that reports on the health of the business.Accounting System installation - plugging in a system for capturing accounting information and reporting it. A software package is integral to this processOther Reporting - developing specific reports that will help the business understand how it is doing and how it can get better.
What do you recommend to know before hiring you?
I would recommend sitting down and being as honest as possible about the accounting and/or financial situation you find yourself in. From this determine what you would like as an ideal solution to this situation if it is a problem. And from this decide whether this is something you want to try to handle yourself or with your current employees. And if you decide you need outside help, determine whether you want someone to take care of all of it or someone to simply act as a guide to assist you in solving the problem, i.e. a consultant.I will need to see the current set of books or the current state of the information on any project I might be trying to do for you. Plus I would need to know what your current procedures are, if any, for doing the work we are discussing.
What questions should a customer ask before hiring you?
What is most important in keeping track of accounting information?What are the methods you use in determining what accounting and financial assistance I need?How do computer systems and software affect what I will be able to do with regard to tracking accounting information?How quickly do you expect to be able to provide me a solution or the monthly information I seek?How reliable are you?How much will it cost?
What are you most proud of?
The major project I am most proud of in the last year is the creation of a large spreadsheet to track the municipal bond portfolio my client has created to act as escrowed collateral for a large loan he has taken out on two manufacturing plants. This spreadsheet is designed to tell us the following: the value of the escrow is in compliance with loan covenants. How well the portfolio is performing. How much of the portfolio came from each of two money managers.The quality of each of the assets in the portfolio.
What is important to know about your profession?
Just how important it is. I can't tell you how many good businesses I have seen suffer or go out of business because they don't stay on top of their finances. A good accountant who is honest and reliable; who you can really count on is worth many times his weight in gold, because he gives you the information you need to deal with the reality of your business' circumstances. Without such a person you are always operating somewhat in the dark, even if you are seemingly making good money.
I got started by developing an accounting services business from the on-going accounting work I continue to provide for the former owners of the company I had been the CFO for.This family had created over 20 separate entities over the years to handle their various endeavors and to effectively manage their wealth. I handle the accounting and business management for all of these entities. With this as a base, I created a website that offers all of the services I can provide for the variety of clients I take care of.
Do you offer any service after finishing the work?
For recurring monthly work, I will continue to keep track of all of the financial transactions you or your company are incurring. For projects, I will check back periodically to see if what I did is still providing value and to see if anything needs to be tweaked.
What we may not know about you?
When I find something I really like I am extremely passionate about it, and I spend a great deal of time and effort pursuing whatever that passion is. In my life these things have been (in no particular order)My Wife and FamilyHistory, in particular the history of the founding of the United StatesTennisComputer Software
How can we save money hiring you?
Get control of their information, and in particular, get control of their cash. Set-up a budget and stick to it as best you can. Make your employees your best agents for saving money by giving them a piece of the action, i.e. a share of the income generated by the company. Price according to what the market will bear and not according to the cost of what is being sold. Keep fixed overhead costs below 20% and Selling, General & Administrative costs below 10%. Encourage efficiency in all operations and reward it when you get it.
How many projects do you average in a year?
During my career, I have typically averaged between one and two projects per year, though some years many more and some years none.