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Business Valuation

Business valuation is a process of evaluating the economic worth of an entity. They are generally thought of when buying or selling a business but they have many other important uses.

  • Estate planning and taxation
  • Gift planning and wealth transfer
  • Buy/sell agreements
  • Purchase price allocations
  • Collateral valuations
  • Charitable contributions
  • S-Corporation elections
  • Marital dissolution

Small Business Accounting

As a small business owner, you have more important things to do than to worry about keeping your books. We take care of your books for you, so you can get back to the job of running your business and generating profits. We can customize your package of services by adding payroll, tax planning, tax preparation or, any of our other services. These tasks form the solid foundation of your small business accounting system. Please also see our QuickBooks section for other small business services.

Bank Reconciliation

Reconciling your account each month allows you to:

  • Know how your business is doing. Manage your cash more effectively. Proper management of funds not only saves money but also makes money for you.
  • Protect yourself. By reconciling in a timely manner and promptly objecting to your bank about any unauthorized, fraudulent, or forged checks presented to and paid by your bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank.

Income Statement

An income statement, otherwise known as a profit and loss statement, basically summarizes all of your revenues and subtracts a list of all your expenses to determine your profit or loss for the period. An income statement allows you to:

  • Track revenues and expenses so that you can determine the operating performance of your business
  • Set budgets and analyze what areas of your business are over-budget or under-budget
  • Identify specific items that are causing unexpected expenditures
  • Help determine your income tax liability

Balance Sheet

A balance sheet gives you a snapshot of your business’s financial condition at a specific moment in time. A balance sheet helps you:

  • Understand the financial strength and capabilities of your business
  • Identify and analyze trends, particularly in the area of receivables and payables. Determine if your business is in a position to expand
  • Help you track and prepare for the normal financial ebbs and flows of revenues and expenses
  • Determine if you need to take immediate steps to bolster cash reserves
  • Provide financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you

General Ledger Maintenance

The general ledger is the core of your company’s financial records. These records constitute the central “books” of your system. They are the details behind your Balance Sheet and Income Statement.


We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide.

Payroll and Periodic State Fillings

We offer payroll solutions that meet your business’s needs. Payroll rules of reporting are complex. We can prepare your payroll and returns for you or we can help you set up an internal payroll system.

Our payroll services include:

  • Worry-free IRS and State tax reporting as well as EFTPS tax deposits
  • User-friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3, and 1099 forms
  • Detailed reports on your employee’s vacation, sick day, and personal day accruals
  • Creation and filing of required new hire reports

Audits, Reviews, and Compilations

Shareholders, creditors, and investors often require assurance that the financial statements accurately represent the true financial position of a company.


Audits provide the highest level of assurance. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice. Our work includes a review of internal controls, testing of selected transactions, and communication with third parties. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatements.


Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company’s management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.


In compiling financial statements for a client, we present information that is the “representation of management” and expresses no opinion or assurance on the statements. Compilations don’t require inquiries of management or analytical procedures. Compilations rely on accounting principles and a general understanding of your business. Banks often require compilations from an independent CPA as part of their lending covenants.

Which Report Should You Use?

Each type of financial statement report may suit specific circumstances, depending on requirements from your bank or other parties, as well as meet budgetary needs. Understanding each report’s unique strengths and weaknesses can help you choose the most appropriate one.


Tax Day comes fast!