Hi, I’m Barb Woods, and I work with business leaders to evaluate, construct, and execute their financial and accounting projects. My clients have included professional associations, governmental agencies, entrepreneurs, and corporations. As a C.P.A. with a Masters in Finance from Northwestern’s Kellogg School of Management, combined with extensive accounting and financial experience, I have the knowledge and expertise to transform a client’s strategic vision into a successful reality.
My proven approach, which provides critical business value to my clients, is built on a shared understanding of the problem or situation. I’ll craft a comprehensive solution, supplying an on-time, efficient delivery.
The following case studies illustrate my process in greater detail. I completed the Accounting Structure and Reporting Transformation in multiple stages, while the Cook County Sweetened Beverage Tax Implementation represents a single stage project.
ACCOUNTING STRUCTURE & REPORTING TRANSFORMATION
During our initial meeting, my client described an accounting system struggling with the lack of a comprehensive design, incapable of producing clear, concise, and insightful financial reports. The design flaws impeded timely analysis while the financial reports did not provide cognitive data capable of informing management of critical trends/issues. The challenge was to revamp the system without disrupting current accounting operations.
COOK COUNTY SWEETENED BEVERAGE TAX IMPLEMENTATION
In November 2016, the Cook County Board of Commissioners enacted the Sweetened Beverage Tax Ordinance, imposing a 1 cent per ounce tax on the retail sale of sweetened beverages in Cook County. The initial effective date was March 1, 2017.
Retailers assumed the Sweetened Beverage tax collection and remittance procedures would be similar to other retail sales tax processes. However, the Beverage Tax Ordinance was fundamentally different and required significant adjustments to retail operating and accounting procedures. The challenge was correctly interpreting the ordinance and implementing the necessary updates to the existing systems.