March 15th is the deadline for filing December year-end corporation income tax returns. Although this is an important day on the calendar of a business, it’s just a day to be compliant with the Internal Revenue Service. The Form 1120 (1120S for S-Corporations) reports the prior year’s activities, but does nothing to generate profit, a company’s lifeblood.
Financial Projections and Forecasts are forward thinking tools. A projection is a financial statement of the future prepared based on hypothetical assumptions on specific moves a company may make, for instance a plant move or expansion. A forecast reflects a company’s expected financial position based upon future conditions such as economic growth. No one can predict the future perfectly, but we can all benefit from planning for it. Kent, Parker & Associates combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Forecasting for the future is imperative to your company’s success. We make it a point to keep current with market trends and updates so that your business can be prepared for what is to come. Depending on your needs, our work can range from top-level reports to detailed financial models.