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| Audits, Reviews and Compilation Services |
| While audits, reviews and compilations may be required by third parties and are based on the preceding period financial information, they provide useful information to management if delivered timely. In our audit, review and compilation engagements we have systemized our processes to ensure you receive quality information in a timely manner. We perform audit, review and compilation engagements for a wide array of clients and industries including employee benefit plans, agri-business, construction and building supply companies, physician practices, retail businesses, family limited partnerships, nonprofit entities and other small and mid-size businesses. The following outlines the nature of each type of engagement and a brief synopsis of our approach on each engagement. Each engagement is designed to meet the reporting needs of your company. Audits An audit is an intensive examination with the highest level of assurance of any engagement. In many areas of business, third parties rely on audited financial statements to ensure that the statements fairly present the financial position of the company. Requirements for audited financial statements vary from industry to industry. Some specialized audit areas for our firm include employee benefit plans and non-profit organizations. We utilize the audit as a process to provide you more than the financial statements as required by third parties - while performing the audit we gain a more in-depth look at your business and make recommendations to help you improve your operations, thereby leading to greater success. Reviews and Compilations For clients desiring or requiring financial statements not at the level of audits we provide review and compilation engagements. Due to the nature of the required procedures these engagements are less costly than audit engagements. Reviews consist primarily of inquiry and analytical procedures that provide us with a reasonable basis for expressing limited assurance that there are no material modifications that should be made to the statements in order for them to be in conformity with generally accepted accounting principles. A compilation is defined as presenting in the form of financial statements information that is the representation of management or the owners without undertaking to express any assurance on the statements. |
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| Accounting and Financial Record Keeping (Bookkeeping) |
| We believe that understanding your financial statements and managing your accounting system are key ingredients to the financial success of your business. Financial statements are meant to be used as a management tool ? when used as such, they can provide valuable insight into your business. It is our goal to provide you with quality financial information in an organized, easy to understand format. We pride ourselves on being active in the growth of your business and strive to be a member of your team. Our accounting and financial record keeping services include, but are not limited to, the following:
It is our goal to tailor a package to meet your specific needs. We understand that the need for services can vary based on business conditions and other various factors. We welcome the opportunity to grow with you. |
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| Employee Benefit Plan Consulting and Audit Services |
| The accounting and tax issues involved with employer-provided benefit plans can be overwhelming. We can assist with the development, implementation and administration of your employee benefit plan. Federal law requires employee benefit plans with 100 or more participants have an audit as part of their obligation to file an annual return/report. Burch, Crooms & Company, LLP can help meet this audit requirement for defined contribution employee benefit plans, including 401(k) plans and employee stock ownership plans. To meet the challenges of performing quality audits in this unique and complex area, we have personnel who maintain the latest information and stay current through continuing education in this rapidly changing environment. We are members of the American Institute of Certified Public Accountants Employee Benefit Plan Audit Quality Center which gives us unlimited resources that specialize in this area. |
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| Internal Audit Outsourcing |
| Our team can independently evaluate the adequacy, effectiveness, and efficiency of your systems of internal control. We can meet with your Audit Committee or other responsible individuals to help plan the internal audit program. Additionally, after conducting the internal audit, our team will communicate the results to your Audit Committee or other responsible individuals on a systematic and timely basis. We can conduct internal audits for financial institutions, as well as small businesses, with locations and branches in or near our market areas. |
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| Business Consulting and Management Advisory Services |
| We gauge our worth by the personal and business successes of our clients. We can help you identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. We incorporate our wealth of experience with our diversified client base to help you address your specific business and management concerns. You can rely on us to listen to your concerns and work with you to implement solid solutions. The following are just a few of the areas in which we provide consulting services:
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| Tax Planning and Preparation |
| We ensure that our tax preparers are adequately trained and familiar with the ever changing world of tax law. We believe that in addition to tax preparation, tax planning should figure into the tax equation. Individuals who plan for tax implications throughout the year can maximize the benefits of changing tax laws and regulations. Often, decisions that are made greatly impact the tax treatment of a transaction, and many of these decisions are not reversible. We recommend personal tax planning for any unusual situation or any large variance in your tax return items from the prior year. We also believe that from a business owner?s perspective, tax planning should be an integral part of your strategic planning. In many cases, timing is everything. When to buy, what to buy, and many other decisions that affect the operations of your business may also have significant tax consequences. We recommend at least annual tax planning for our business clients. Our partners and staff can assist you in all of your tax preparation and planning needs including:
We are also available to represent our clients before federal, state and local tax authorities to resolve tax notices, handle audits, and when necessary, appeal tax positions with tax authorities. |
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| Payroll Services |
| As a business grows, it must hire more employees, which can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firm can also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.
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| QuickBooks |
| We have a Certified QuickBooks ProAdvisor on staff. We can help you find the QuickBooks accounting software that is right for your company. You can rely on us to help you set up QuickBooks to properly manage your business accounting and finances and are available to answer your questions. |
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| Notary Public |
| We have a notary public in our office that is available to notarize your important documents. |
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