2 Company Background Founded by Tony R. Dong, CPA in 2008 Tony was worked in Ernst & Yong (one of the Big 4 Accounting Firm) as a manager for more than 5 yearsProvide accounting, auditing, tax and business consulting services.
3 Stenghth Solid Reputations Update Software High client retention, providing consistent referrals to the firmUpdate SoftwareA state-of-the –art computer system, utilizing the latest software that continues to enhance our productivity and expand our capacity.
4 Strengths Bilingual Employees All of the employees are bilingual More business opportunitiesGlobalization
5 Weakness A lack of diversification Too Traditional Over-dependence on tax preparation work for individual and business clients and, therefore, a lack of diversification in our revenue sources.Too TraditionalBeing perceived as a non-progressive, “too traditional” firm and maybe overlooked as a viable option for new clients.
6 Weakness1099 employeesIndividual within the professional staff do not have an understanding of or a commitment to the marketing activities of the firm
7 Opportunity Multiple Location Expertise We have 3 offices. The main office is in San Gabriel, second branch office in Rowland Heights, and the third branch office is in Shanghai, China.Most important-Closer to customersExpertiseGrowth that is occurring in three industries where we possess expertise; health/medical, dental, and lodging
8 Opportunity Business strategies Increasing income levels of the population over the age of 60 that have aggressively saved for retirement and have increasingly complex tax planning, tax preparation, and estate planning needs.
9 Threat Competition Simplification of tax laws Increased competition from sole practitioners and new firms.Simplification of tax lawsState and /or federal tax laws that lead to gross simplification, such as legislation leading to a flat income tax, which would result in reducing billable hours for business and individual taxes.
10 Threats Misunderstanding General perceptions that accounting firms are only used for tax-related aspects of business rather than as a valuable resource for broader business consulting issues.
11 ConclusionsDong & Associates, CPA’s main strength is solid reputation, if they can overcome all the weaknesses and threats. They will definitely have more branch and their profit will increases.Thank you !!