Financial Statements Have a purpose For Nonprofits, business, ministries and outreach written by Melvin Feller Business Consultant

Financial Statements Have a purpose For Nonprofits, business, ministries and outreach written by Melvin Feller Business Consultant

The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions (IASB Framework).

written by Melvin Feller Business Consultant

Financial Statements provide useful information to a wide range of users:

Managers require Financial Statements to manage the affairs of the company by assessing its financial performance and position and taking important business decisions.

Shareholders use Financial Statements to assess the risk and return of their investment in the company and take investment decisions based on their analysis.

Prospective Investors need Financial Statements to assess the viability of investing in a company. Investors may predict future dividends based on the profits disclosed in the Financial Statements. Furthermore, risks associated with the investment may be gauged from the Financial Statements. For instance, fluctuating profits indicate higher risk. Therefore, Financial Statements provide a basis for the investment decisions of potential investors.

Financial Institutions (e.g. banks) use Financial Statements to decide whether to grant a loan or credit to a business. Financial institutions assess the financial health of a business to determine the probability of a bad loan. Any decision to lend must be supported by a sufficient asset base and liquidity.

Suppliers need Financial Statements to assess the credit worthiness of a business and ascertain whether to supply goods on credit. Suppliers need to know if they will be repaid. Terms of credit are set according to the assessment of their customers’ financial health.

Customers use Financial Statements to assess whether a supplier has the resources to ensure the steady supply of goods in the future. This is especially vital where a customer is dependent on a supplier for a specialized component like melfeller burkburnett.

Employees use Financial Statements for assessing the company’s profitability and its consequence on their future remuneration and job security.

Competitors compare their performance with rival companies to learn and develop strategies to improve their competitiveness.

General Public may be interested in the effects of a company on the economy, environment and the local community.

Governments require Financial Statements to determine the correctness of tax declared in the tax returns. Government also keeps track of economic progress through analysis of Financial Statements of businesses from different sectors of the economy.

Hello, I am Melvin Feller and I started Feller Business Consulting because clients kept telling me that the financial models and business valuations I prepared for them were among the best they have ever seen.

I have worked as a consultant in some of Texas’ largest accounting firms where I found my passion of helping business owners with financial analysis, market research and analysis, and business valuation. My goal is to earn business for life and I am committed to providing you high quality services with integrity and respect. I look forward to getting to know you and helping your company reach its maximum potential.

I have helped hundreds of business owners and attorneys with financial analysis and business valuations needs for gift and estate tax, litigation support, and transaction consulting. I have also valued asset-holding entities such as family limited partnerships for wealth management and protection purposes. I have worked across multiple industries including restaurants, retail, technology, manufacturing, health care, energy, real estate, and service providers.

Located now in Burkburnett Texas with an Office in Lawton Oklahoma — Where we put grace back into working with numbers and mistakes!

See what my clients say:

L. Marco, Business Systems Implementation Analyst

Melvin Feller is unmatched to any business consultant we’ve ever had at Totally Awesome Melvin is an absolute professional. The skill set he brings is great programming plus business knowledge. Melvin is patient and thorough. From the point of view of our project — we would not have been able to do this in the time available without him. Melvin is intuitive about our needs. Melvin is also imaginative when problem solving — when we hit a wall, Melvin had several different ideas to help us get past the issue. I’ll be calling Melvin Feller a lot to get him back.”

K. Fischer, Senior Business Analyst

Robinson Trucking Company

Robinson Brick Company, a 124-year-old Texas Trucking manufacturing company and long time Melvin Feller customer was in quick need of high-level Advanced Pricing consulting. We called upon our attorney who immediately recommended we use Melvin Feller Distribution Consultant and expert in the Advanced Pricing arena. Melvin Feller smoke-jumped into Robinson Trucking Company with a couple of days notice and provided numerous tips, advanced knowledge, high level detailed expertise, and demonstrated product setup utilizing Robinson Trucking’s data. With Melvin’s’ guidance, Robinson Trucking Company is currently in the process of implementing Advanced Pricing functionality to all of its 13 locations. Thank you for providing outstanding demonstrated product knowledge and immediate customer response.”

C. Shen, Manager, Uptown Business Systems

OKOrthopedics

Melvin Feller has brought a lot of value to OK Orthopedics through his custom training sessions. He tailored his presentations to address our specific process issues and questions. We have especially found that Melvin Feller is great at matching up the true potential of our goals with the real life business challenges that are not text book or white paper issues.”

D. Dostal, Director of IT

Kreggs Corporation

There are two reasons we will continue to use your organization for supporting our Business systems. First, the depth and validity of your consultants’ knowledge base is exceptional. We do not have the time or resources to function as a training ground for consultants exploring new areas. The consultants you have provided to us have been able to make an immediate impact on our projects. In addition, they have made sure that they left us self-sufficient in those areas. Second, the value provided by your organization strikes the right balance. Your rates are appropriately aligned but more importantly, your associates keep a firm understanding of our needs at the center of their work at all times. They have been excellent at advising us on several possible courses of action while helping us determine which direction most closely aligns with our abilities and system plans. We will not hesitate to contact your team for our future Melvin Fellers work.”