From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities.
Accounting can be divided into several fields including financial accounting, management accounting, auditing, and tax accounting.
Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to external users of the information, such as investors, regulators and suppliers.
Management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.
Auditing is defined as a systematic and independent examination of data, statements, records, operations and performances (financial or otherwise) of an enterprise for a stated purpose. In any auditing the auditor perceives and recognizes the propositions before him for examination, collects evidence, evaluates the same and on this basis formulates his judgment which is communicated through his audit report.
Tax accounting, under the Internal Revenue Code, section 446(a), emphasizes consistency for a method to the applied financial accounting to determine the proper method. The taxpayer must choose a tax accounting method using their financial accounting method as a reference point.
We prepare all these types in accordance with Generally Accepted Accounting Principles (GAAP), as set by the Financial Accounting Standards Board (FASB) and the American Institute of Certified Public Accountants (AICPA).
Our accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost containment, tax planning, investments, and employee benefit and profit-sharing plans.
We can serve you in many ways, such as General ledger and financial statement preparation, Bookkeeping (monthly, quarterly, or annual), Accounting system setup and support, Payroll processing, Cash flow budgeting and forecasting, Personal financial statements, Employee benefit and profit-sharing plans, Corporate tax planning and return preparation, Litigation support and Forensic Accounting.