We offer three levels of assessment of your financial statements based on your company’s needs:

• An audit is the highest level of assurance that we can provide. It entails a systematic examination of the financial statements, internal controls, and selected transactions for purposes of expressing a professional opinion on the fairness of the information provided.

• A review is a more limited investigation to provide some level of assurance that material modifications to the financial statements need not be applied. Testing primarily consists of high level examination, year-over-year comparison, inquiry, and analysis. It does not examine back-up data to substantiate the financial data. A review may suffice for selected outside interests.

• A compilation presents client-supplied data in financial statement format. No assurance is provided by the accountant as no testing, inquiry, or analytical procedures are performed. This service typically serves an internal audience.

Contact us to discuss your needs for financial statement assessment.

We can prepare a complete set of financial statements to help you assess the health of your business including:

• A Balance Sheet that gives you a snapshot of your overall financial condition at month, quarter, and/or year end.

• An Income Statement (a.k.a. Profit and Loss Statement) that summarizes revenues, expenses, and net profits so you can assess the operating performance of your business.

• A Comparison of Actual Performance to Budget so you can identify trouble spots in your revenue stream or spending patterns.

• A Cash Flow Statement that shows how changes in your Balance Sheet and Income Statement affect your available cash.

Our analysis of your financial statements helps you frame strategic initiatives (e.g., business expansion, acquisition) as well as tactical plans (e.g., accounts receivable and accounts payable management). Professionally prepared financial statements are also an essential resource when dealing with creditors (e.g., vendors, banks) and investors.

When you use our professional accounting services, you get more than a collection of records and reports. You get the benefit of our skills, experience, and expertise. We’re happy to invest the time to make sure that you understand and utilize all of the information we provide. Call us whenever you have a question or concern.

While a clean set of books is a key objective for every accountant, it’s also important to match the accounting records with the monthly bank statements. Our bank reconciliation services ensure that every deposit and withdrawal aligns with entries into your accounting records. This assessment enables us to identify lost deposits, lost checks, unauthorized transactions, and inappropriate bank fees. It triggers investigation into any fraudulent activity (identity theft, forgery, embezzlement, etc.), and expedites restitution. And it gives you a clearer picture of your cash position for addressing planned outlays and investments.

We can work with you or your current payroll provider to manage your employee payroll. There’s a host of government reporting and record keeping requirements that comes with the job, and there are adverse consequences if errors are made. We can refer you to other sources.

• Support – Our QuickBooks support service can assist you with providing accounting and payroll assistance.
• Tune-Up - A QuickBooks Tune-Up is a great way to prepare for tax time, an important meeting, or a periodic review of your QuickBooks and business strategy. In a few short hours, our professionals can review transactions, clean up stray entries, balance the general ledger to subsidiary ledgers, and adjust the chart of accounts to reflect changes in your business model. A Tune-Up can help you make better decisions, minimize the ill-effects of undetected errors, and keep business flowing in the right direction.
• Review – Our QuickBooks review service helps companies that have the human resources to perform daily accounting and payroll tasks, but need an accounting and payroll expert to review your transactions, accounts and reports. This review ensures that you receive timely, relevant and reliable financial information. We also inform you of any corrections, adjustments or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted at any time, but monthly reviews provide you with up-to-date information and feedback about your business.
• Setup – We assist new QuickBooks users with initial setup including: Easy Step Interview, Preferences, Lists, Customers, Vendors, Employees, Banking and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and lack the ability to generate and track important information as a result of inadequate setup.
• Personal Training – We train you personally! Either one-on-one or several individuals within your organization at your company’s location.

We can assist you and your financial advisor through tough decision-making processes such as asset allocation, investment performance monitoring, college education funding, retirement plans, insurance, and tax, estate, and business succession planning. Whether you are developing an investment strategy or evaluating current investment, we help you take into account tax implications for an advantageous after-tax return. The road to retirement is a long one and we can help you to take the proper steps to reach your goals.

We provide objective assessments of business interests by helping you identify and analyze the relevant factors that drive value. We examine:

• The strength and stability of the customer base and the associated revenue stream.

• Prospects for growth given the available market and competitive positioning.

• The overall financial health of the business.

• Valuations for comparable entities.

The results inform your decision making as you buy or sell business interests, forge partnerships, negotiate with third parties for debt or equity financing, navigate martial separation, or settle estates.

Choosing and administering benefit plans for your employees is often a complex process. We can consult with you and your advisors on developing and implementing your plan, help you select an administrator for your benefit, retirement and profit-sharing plans and help you and your company reach your financial and business goals. We can also help maximize tax advantages in implementing these plans. As your business grows, your business and your employees will be rewarded for the hard work that contributed to the success of your business.

We can help you, your family, and your employees prepare for the successful, productive, and smooth transition of your business.

Ultimately, you are responsible for the changes your business will go through when you are no longer involved, but you don’t have to undertake this transition alone. We can provide the following consulting services you need to implement a practical plan designed for your company, your goals, and your values.

Business Succession Planning Services

• Assist in planning for a successful business transfer to employees, heirs, or outsiders buyers.
• Assist in positioning the business for a profitable sale or merger.
• Assist in developing a plan and work with your financial advisor to retain enough assets to fund your retirement.
• Develop business transfer strategies.
• Assist in selecting a Business Valuation Firm to value your business.
• Due Diligence Services.
• Section 1031 like-kind exchanges planning and consultation.

Business transactions and transitions are complicated affairs, and whether you’re buying, selling, or considering a potential merge, we can provide professional know-how to help you and your advisors successfully structure and negotiate the deal. We will analyze and help perform due diligence to determine a fair asking price, pinpoint the most favorable tax structures, evaluate financial and cash flow impact, and assess compatible business functions and tactics.

We help you establish appropriate internal controls to ensure proper handling of resources and guard against employee theft. Some best practices include:

• Segregating duties across multiple individuals to minimize exposure to error and inappropriate behavior.

• Establishing lines of authority and the associated processes for transaction approval.

• Assigning responsibility for periodic review and reconciliation of financial records by someone who was not involved in executing transactions or preparing statements.

• Scheduling periodic manual counts of equipment, inventory, and other tangible property to ensure alignment with the accounting records.

• Documenting policies and procedures as guideposts for your employees’ day-to-day activities.

• Training employees on their respective job duties and establishing appropriate levels of ongoing supervision.

• Reviewing operations to ascertain whether results are consistent with established goals, objectives, and protocols.

We have the ability to provide oversight on all aspects of your company’s financial affairs. This includes:

• Establishing strong internal controls to ensure accurate transaction processing while minimizing exposure to fraud and theft.

• Training and managing the accounting and payroll staff – whether in-house, through our firm, or via a third party service.

• Providing financial reports and performance benchmarks within 15 days of month end closing.

• Identifying sources to meet capital and operating requirements.

• Building a cash reserve appropriate to your business model, anticipated growth, and market outlook.

We can assist you in understanding and mitigating key elements of your company’s risk profile.