The retail industry offers many unique challenges for both merchants – who often make thousands of purchasing decisions a year – and the accountants, financial managers and other professionals who keep their businesses on track and optimize their finances.
DDK provides a range of services to retailers, including accounting, budgeting, minimizing personal tax liability for business owners, analysis of cash flow, benefits consulting, and planning for a continuum of expenditures, including major transactions. We also address industry-specific issues such as inventory management, fringe benefits and accounting issues related to gift cards.
Our experienced consultants offer expert lease analysis and conduct cost segregation studies, as well as other forms of real estate consulting essential to expanding local, regional and national retailers in the apparel, furniture, electronics and luxury goods industries, among others, as well as wholesalers in a range of industries.
Since many retail businesses are family run, DDK frequently counsels management on the challenges of continuation, succession planning and even steps in to resolve disputes. We also advise start-up retailers as they establish relationships with banks and introduce the most appropriate accounting and inventory systems for their young businesses.
And for established retailers of all sizes, DDK offers many ways to tighten up financial controls. Potential clients who take time to consult with our retail industry experts are impressed and even surprised by the breadth of knowledge and solutions we bring to their industry.