MWA is now CLA

We are excited to share that we plan to join CLA (CliftonLarsonAllen LLP) on November 1, 2018. CLA is a national professional services firm that, like us, has developed an approach to business grown out of a passion for the businesses in our communities and a deep concern for the people who make them run. Please click here for more information:

https://www.claconnect.com/media/mwa-cpa-and-business-advisory-firm-joins-cla


As CLA, we can offer you even deeper knowledge and capabilities when you need it — while retaining the agility we have today.
All told, this transition should feel seamless. Take a look at CLAconnect.com to get a feel for CLA — creating opportunities for businesses, individuals, and communities through industry-focused wealth advisory, outsourcing, audit, tax, and consulting services.
If you have any questions or concerns, please do not hesitate to contact us. We look forward to continuing to serve you.
 

How We Made Our Client’s Pharmacy “Bankable”

Client Profile 

A pharmacist hired MWA to prepare “bankable “ financials that would enable him to obtain financing. The client already had a strong business model, but it needed a loan to achieve its goals for future growth.

Pain Point

The client struggled to identify why its business was performing at the same level every year and needed significant guidance to nail down the drivers of its performance. The client was also comprised of several different entities that were responsible for certain activities, and there was a tremendous amount of confusion about where certain revenue should be recognized and which costs should be attributed to each entity. 

The Right Solution

Our work began with developing and implementing accounting processes and controls that ensured the client’s data was reliable. We created a plan for determining specific revenue allocations at the provider level and designed an expense allocation process that was appropriate for the company’s short- and long-term operations. After implementation, we noticed the internal practice management system reports were not reconciling with our revenue recognition. Instead of asking the client to change its practice management system, we quickly created a new accounting process that allowed our teams to work together and ensure all production data was being captured and reported accurately in the financial statements. 

Above and Beyond Results

After earning the client’s trust by developing its financial systems/controls and helping it understand its performance metrics, we then began to think strategically about how we could help the business grow. We introduced the client to another company within its industry that we were confident would become a valuable strategic partner for the future. We were right – both companies have increased their value by more than 300%. 

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