Frequently Asked Questions
About FinancialStories
What does FinancialStories do?
Our work may include maintaining reliable accounting records, strengthening financial reporting, improving visibility into cash flow and profitability, developing budgets and forecasts, evaluating business decisions, supporting tax planning, and helping leadership understand the financial implications of growth and change.
The specific services provided depend on the needs, complexity, and priorities of the business.
Who does FinancialStories work with?
Clients may be established businesses working to improve their financial systems, growing companies facing greater complexity, or organizations preparing for an important transition, investment, or strategic decision.
The best fit is typically a business whose leadership wants financial information to be useful for management and decision-making, not simply maintained for compliance purposes.
What makes FinancialStories different from a traditional accounting firm?
Our work may begin with Operational Accounting or Controller Services, but the goal is to create financial information that leadership can actually use.
Depending on the engagement, that information can then support Business Advisory, Financial Strategy, Strategic Tax Planning, and other forward-looking decisions.
Does FinancialStories work with businesses outside its local markets?
The scope of work, communication structure, technology, and reporting process are established based on the needs of the engagement.
Getting Started
How do I know which FinancialStories service my business needs?
The starting point is understanding what the business is trying to accomplish, what financial information is currently available, where the challenges are occurring, and what decisions leadership needs to make.
From there, FinancialStories can identify whether the priority is strengthening the accounting foundation, adding Controller-level oversight, improving financial planning, evaluating business decisions, addressing tax strategy, or combining several services.
Do I need to use all of FinancialStories' services?
For example, one company may need Operational Accounting without Controller Services, while another may need Controller Services and Financial Strategy. A growing business may eventually use several services as its financial needs become more complex.
Can we start with one service and add others later?
Many businesses begin by addressing the most immediate financial need and expand the engagement as additional priorities become clear.
For example, a business may begin with Operational Accounting to strengthen the financial records, later add Controller Services for greater oversight, and eventually use Financial Strategy or Business Advisory as leadership begins making more complex decisions.
What happens during the initial conversation?
FinancialStories may ask about the accounting process, financial reporting, profitability, cash flow, tax concerns, growth plans, operational challenges, and upcoming decisions.
The objective is to identify where additional financial support may be most useful and determine an appropriate next step.
What information should we have available when we begin?
The information needed depends on the type of engagement.
Useful starting materials may include recent financial statements, accounting records, budgets, forecasts, tax information, payroll reports, accounts receivable and payable information, and documentation related to significant financial or operational decisions.
FinancialStories can identify what is needed after understanding the scope of the engagement.
Operational Accounting and Controller Services
What is Operational Accounting?
It may include transaction classification, reconciliations, accounts payable and receivable support, balance sheet schedules, documentation, month-end preparation, and coordination with other financial providers.
The objective is not simply to record transactions. It is to create a dependable financial foundation that supports reporting, tax readiness, Controller Services, and better business decisions.
How is Operational Accounting different from traditional bookkeeping?
Operational Accounting goes further by connecting those activities to the broader financial function of the business.
FinancialStories focuses on organized records, supported balance sheet accounts, consistent processes, month-end readiness, clearly assigned responsibilities, and financial information that can be used by leadership, Controller Services, tax professionals, and other advisors.
What are Controller Services?
Depending on the engagement, this may include managing the month-end close, reviewing financial statements, overseeing balance sheet accounts, strengthening accounting procedures and controls, coordinating with the accounting team, and helping leadership understand financial results.
Controller Services generally build on the financial foundation established through Operational Accounting.
What is the difference between Operational Accounting and Controller Services?
Controller Services focus on oversight, review, reporting, and interpretation.
Operational Accounting may handle recurring accounting activity, reconciliations, documentation, and schedules. Controller Services help ensure the accounting function is operating properly and that the resulting financial information is reliable and useful.
Some businesses need one service. Others benefit from using both.
Can FinancialStories work with our existing bookkeeper or accounting team?
FinancialStories does not have to replace an existing employee, bookkeeper, accounting provider, or internal team.
We can take responsibility for selected functions, strengthen processes, fill gaps, improve reconciliations, clarify roles and responsibilities, or add Controller-level oversight where it is needed.
The goal is to improve the financial function without unnecessarily duplicating work that is already being handled effectively.
Are Controller Services a replacement for a full-time controller?
A company may need Controller-level financial oversight before it needs, or can justify, a full-time internal controller.
In other cases, FinancialStories may supplement an existing accounting team or work alongside an internal controller.
The appropriate structure depends on the complexity of the business, its reporting needs, and the level of financial oversight required.
What is Financial Records Renovation?
The work may include completing missing reconciliations, resolving unsupported balances, correcting prior-period activity, reorganizing accounts, identifying missing documentation, or establishing more dependable accounting processes.
Once the financial records have been strengthened, Operational Accounting can help maintain that structure going forward.
Financial Advisory and Strategy
What are Finanical Advisory Services?
Business Advisory Services help leadership interpret financial information and use it to evaluate business challenges, opportunities, and decisions.
Advisory work may address profitability, cash flow, pricing, staffing, growth, capacity, investments, operational changes, and other issues that affect the financial direction of the business.
The purpose is to provide greater financial clarity and perspective as leadership considers what to do next.
What is Financial Strategy?
It may include budgeting, forecasting, cash flow planning, scenario analysis, financial modeling, profitability analysis, and evaluating the financial implications of future decisions.
The goal is to help leadership understand what the business can support, what may need to change, and how different choices could affect future financial results.
How are Financial Advisory Services different from Financial Strategy?
Finanical Advisory Services provide broader decision support.
Financial Strategy provides the financial planning and modeling behind those decisions.
For example, Financial Advisory may help leadership determine whether expanding into a new market makes strategic sense. Financial Strategy may model the investment required, expected cash needs, profitability assumptions, and different possible outcomes.
The two services often work together.
Can FinancialStories help us evaluate a major business decision?
FinancialStories can help leadership evaluate the financial implications of decisions such as hiring, expansion, pricing changes, new products or services, major purchases, investments, or operational changes.
The analysis may consider cash requirements, profitability, timing, financial capacity, assumptions, risks, and potential outcomes.
The purpose is not to make the decision for leadership, but to provide the financial visibility needed to evaluate it more effectively.
What is scenario planning?
For example, leadership may want to understand what happens if revenue is lower than expected, a new employee is hired, pricing changes, an expansion is delayed, or a major purchase is made.
Scenario planning allows leadership to compare possible outcomes before committing to a significant decision.
What is the difference between a budget and a financial forecast?
A forecast updates the expected financial outlook as actual results and business conditions change.
The budget provides the original plan. The forecast helps leadership determine whether the business is still moving according to that plan or whether expectations need to be adjusted.
Do we need perfect accounting records before beginning advisory or Financial Strategy work?
FinancialStories can evaluate the available information and identify limitations before conclusions are treated as dependable.
If significant accounting gaps exist, Operational Accounting or Controller Services may be recommended before more detailed advisory, forecasting, or financial modeling begins.
Strategic Tax Planning
What is strategic tax planning?
Unlike tax preparation, which primarily reports what has already happened, strategic tax planning looks ahead.
The objective is to give business owners greater visibility into potential tax consequences before important decisions are finalized.
How is strategic tax planning different from tax preparation?
Strategic tax planning focuses on decisions that may affect future tax outcomes.
Planning may involve evaluating timing, compensation, entity considerations, major purchases, investments, estimated taxes, or other business activities before those decisions become final.
Both are important, but they serve different purposes.
When should strategic tax planning begin?
Waiting until tax returns are being prepared may limit the options available.
Planning earlier in the year, or before a major decision, allows more time to evaluate alternatives and understand their potential tax implications.
Why are reliable accounting records important for tax planning?
Reliable accounting records help establish current income, expenses, cash flow, balance sheet activity, owner transactions, payroll information, and other financial data that may affect tax decisions.
Operational Accounting and Controller Services can help create a stronger financial foundation for tax planning.
Does FinancialStories coordinate tax planning with other financial services?
FinancialStories may coordinate Strategic Tax Planning with Operational Accounting, Controller Services, Financial Strategy, and Business Advisory where appropriate.
Working With FinancialStories
Can FinancialStories work with our existing CPA or tax preparer?
FinancialStories can work alongside existing tax professionals and other advisors.
Depending on the engagement, we may help maintain reliable financial information, identify issues that should be discussed with the tax team, prepare supporting schedules, and coordinate financial information needed for tax planning or preparation.
Can FinancialStories work with our attorney, banker, or other advisors?
Business decisions often involve multiple professional perspectives.
Where appropriate and authorized by the client, FinancialStories can help coordinate financial information with attorneys, lenders, tax professionals, payroll providers, and other advisors.
Are FinancialStories engagements customized?
The scope of work is based on the needs of the business rather than a one-size-fits-all package.
Factors may include the size and complexity of the company, existing accounting resources, transaction volume, reporting needs, financial priorities, and the level of ongoing support required.
How often will we meet with FinancialStories?
Some services require recurring monthly review, while others may involve periodic strategy meetings, project-based work, or additional conversations around important business decisions.
The appropriate cadence is established as part of the engagement.
How does FinancialStories determine the appropriate scope of work?
The scope may include a single service or a combination of services depending on the priorities of the business.
As the business changes, the scope can also evolve.
Still Have Questions?
Every business has a different financial structure, set of priorities, and stage of growth.
If you are unsure whether your business needs Operational Accounting, Controller Services, Business Advisory, Financial Strategy, Strategic Tax Planning, or another level of support, you do not need to determine that before reaching out.
Start the conversation with FinancialStories, and we can help identify the most appropriate next step.
Office Locations
Nashville, TN & Coral Springs, FL
We have two office locations and we work remotely with companies nationally.