Companies often don’t call in recovery experts at the first signs of struggle. This new report from Mowery & Schoenfeld, a leading accounting, advisory, tax, and IT services firm, argues for earlier intervention by showing how turnaround accounting services can protect a company’s value and restore confidence with lenders and stakeholders.

“When a company is underperforming, everyone can sense something is wrong, but sometimes leadership just doesn’t have the data needed to make timely and often difficult decisions,” said Matt Schoenholtz, partner and client advisory services leader at Mowery & Schoenfeld. “Business leaders need a partner to help them answer hard questions, so they can ultimately do what’s right for their organization.”

The new report, “Turnaround Accounting Services: Understanding the timing, value, and language of turnaround services before your business is in distress,” includes:

• A simple guide to understanding the lingo of bankers, accountants, and other stakeholders
• The key questions a well-run in-house accounting team should be able to answer to help leaders determine what action they need to take
• An overview of the four-step turnaround process
• Steps to building an effective financial reporting dashboard, including the most critical financial ratios and other important metrics
• A real-world example of how turnaround accounting services helped an industrial services company preserve equity and propel growth

“Asking for support early is a sign of foresight, not failure,” Schoenholtz said. “Reaching out to an accounting turnaround expert before challenges arise can make all the difference in a company’s future.”

Read the full report here

About Mowery & Schoenfeld

Mowery & Schoenfeld, LLC is an accounting, advisory, tax, and IT services firm headquartered in Lincolnshire, Illinois, with satellite offices in Lake Forest, Chicago, Miami, and the Philippines. With more than 20 partners and 200+ total employees, Mowery & Schoenfeld ranks among the top 10 firms in Illinois, is ranked #132 nationally by Inside Public Accounting, and has made the Inc. 5000 list of the fastest-growing companies in the country two years in a row.

The Firm offers comprehensive business and personal advisory services including tax, assurance, transaction support, outsourced accounting, wealth management, international tax, business advisory, and capital planning, as well as technology services through its subsidiary, Xamin.

To learn more, visit msllc.com.

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A new report outlines how early intervention with turnaround accounting can preserve a company’s value and restore confidence with stakeholders.