About WZ

The WZ Approach

‘Accounting Beyond the Numbers’ is more than a tagline. It’s a philosophy, a mentality, a discipline. At WZ it all translates into a process and ultimately a solution.

The WZ solution is characterized by an accurate, thorough, timely and responsive execution of accounting fundamentals at every level of the practice. Our process involves focusing not just on preparing and filing returns, auditing, preparing financial statements… but also an intense concentration on growth. Our entire practice is about growth, the generation and preservation of wealth, and enhancing the quality of our client’s life.

Key Components of the WZ Solution

One of our biggest challenges is not just delivering ‘Accounting Beyond the Numbers’, but also explaining it clearly. For WZ it’s not just about bean counting, it’s about creating beans for clients and then helping them to keep more of them. Because of this philosophy we prefer to call what we provide clients not only a service, but a solution.

“Detecting emerging trends and helping clients address them before they become problems is where the art of accounting meets the craft of accounting.”

– Vince Preto, Partner

Here are three components central to the WZ ‘Accounting Beyond the Numbers’ solution:

  1. Anticipating & Solving Problems
  2. Access to Partners & Senior Managers
  3. An Intense Focus on Growth

Anticipating & Solving Problems

WZ is committed to helping clients solve problems and meet challenges.

Most middle market accounting services focus on simply recording clients’ financial past, not on shaping their financial future. WZ takes a strategic view. In other words, we not only present a client with numbers but we seek to understand what they mean for the future. This search for the deeper meaning in the numbers and their future implications helps us to anticipate client challenges. This level of analysis and anticipation generally provides a broader spectrum of options and solutions for our client, improving their financial life and future.

Problem solving is not just an objective, but a discipline. We provide ongoing, comprehensive training to our staff on the core consultative skills required to uncover and solve client problems.

An ‘Accounting Beyond the Numbers’ Snapshot
By recommending a lease subdivision, our client’s monthly rent expense was reduced from $12,000 to $3,000 resulting in annual overhead expense reduction of $108,000 per year. Additionally by restructuring the development of vacant land the client retained the buildup of appreciation as a capital gain instead of ordinary income, thereby saving over $1,000,000 in taxes.

Access to Partners & Senior Management

Virtually all midsized and large accounting practices claim high levels of access to the partners and senior managers. When it comes to access to partners and senior management, WZ delivers. Here are two specific examples of how:

  1. Hardwiring the Connection Between Client, Partner and Staff
    Department staff and managers conduct structured account reviews with the partners. The attention and focus of the partners is not left to chance, but is built into the process we use to deliver solutions.
  2. An Objective Measure of Access to Our Partners
    We believe the bottom line on issues like accessibility, is how our client feels. In addition to structuring our practice to ensure access to partners, we survey our clients to ask them how they feel on this and other important performance issues. In a recent client satisfaction survey, our clients rated their level of satisfaction on this issue to be slightly in excess of 9.6 on a scale of 1-10, ten being the highest possible rating.

An Intense Focus on Growth

The WZ process involves a dynamic, perpetual assessment of a client’s opportunities and risks. Our philosophy and process involves more than executing effectively against the status quo. Whether our client is an individual or business, our focus is on growth. We believe that in a fast changing world and economy this type of dynamism is more important than ever!

The WZ process is designed to translate into a real difference for your business and your personal financial health.

The WZ Client Development Process

WZ has developed a rigorous client development review process. Partners, department managers and staff systematically review clients with a focus on development initiatives and other issues related to growth. These reviews assist us in leveraging financial data. The result is better strategy, earlier detection of emerging problems and improved business performance.

When development opportunities are complex, expansive in scope or involve multiple professional disciplines, they are presented at weekly formal account development meetings. At these meetings the clients’ situation is presented and the account development team consisting of partners, senior managers, department heads and staff review the issues and craft appropriate initiatives and recommendations.

An ‘Accounting Beyond the Numbers’ Snapshot
By restructuring the “good will” component of a business that was being sold, our client saved $1,150,000 in taxes.