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DONG & ASSOCIATES, CPA SWOT Analysis By Suet-Wa Ngai (Carol)

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Presentation on theme: "DONG & ASSOCIATES, CPA SWOT Analysis By Suet-Wa Ngai (Carol)"— Presentation transcript:

1 DONG & ASSOCIATES, CPA SWOT Analysis By Suet-Wa Ngai (Carol)

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 years Provide accounting, auditing, tax and business consulting services.

3 Stenghth Solid Reputations ▫High client retention, providing consistent referrals to the firm Update Software ▫A 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 opportunities ▫Globalization

5 Weakness A lack of diversification ▫Over-dependence on tax preparation work for individual and business clients and, therefore, a lack of diversification in our revenue sources. Too Traditional ▫Being perceived as a non-progressive, “too traditional” firm and maybe overlooked as a viable option for new clients.

6 Weakness 1099 employees ▫Individual within the professional staff do not have an understanding of or a commitment to the marketing activities of the firm

7 Opportunity Multiple Location ▫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 customers Expertise ▫Growth 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 ▫Increased competition from sole practitioners and new firms. Simplification of tax laws ▫State 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 Conclusions Dong & 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 !!


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