CSPAN Entertainment Inc.

CSPAN Entertainment Inc. owns and operates 11 Blockbuster franchises in Texas. Headquartered in Richardson. The Blockbusters are located in the towns of Tyler, Longview, Henderson Jacksonville, Kilgore, and Lufkin. In addition, management operates related companies which own other franchises and real estate properties as well.

The Challenge

Management was facing the issue of receiving accurate financial information in the Blockbuster multi-site environment. Bookkeeper turnover was a challenge, and the constant hiring and training for that position was costly and inefficient. This made it difficult to get accurate and timely financial information and consistent accounting from period to period. Communication between the locations and the corporate office regarding accounting information also needed standardization and consistency. Finally, to remain competitive they needed to streamline all operations and be confident that their financial information provided the necessary guidance to do so.

TADAccounting assigned a team of accounting professionals to work with the franchise locations and the corporate office. The TADAccounting CPA Manager met with CSPAN management to reformat financials and create new financial reports to ensure management was receiving the information they needed. Procedures were set up for operations and store managers to follow so TADAccounting would receive the correct information to create the financials. The TADAccounting CPA Manager then met with store managers and operations managers to implement those procedures. The rest of CSPAN’s TADAccounting team helped to implement the new procedures and set up communication with the store managers. Ongoing monitoring and communication ensured that information was provided to TADAccounting timely, so financial reports could be prepared. TADAccounting suggested that CSPAN upgrade their old accounting software system to a more efficient one, and helped with the implementation and transition to the new accounting system.

The Result

On a monthly basis, the CPA Manager meets with CSPAN management to present financial reports and discuss results.  The TADAccounting solutions result in the desired outcome: reliable, timely and accurate financial statements, and better communication between the field and the accounting staff.

Owner Sunil Dharod has confidence in TADAccounting, and says “They (TAD team) do an awesome job.”

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