Audit & Consulting Services
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency. Audits differ from reviews and compilations, as they are an intensive examination of your company’s systems and records providing the highest level of assurance.
Reviews & Compilations
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency. We provide financial reporting on two levels of assurance:
*Review – some analytical procedures conducted with limited assurance
*Compilation – based upon client information provided and used primarily for internal use.
Some of your business transactions may necessitate involvement of a certified accounting professional, but you don’t necessarily need a certified financial audit. For these circumstances, Jacob K. Farsakh MBA, CPA & Company can perform “agreed-upon procedures” for your organization in accordance with standards issued by the American Institute of Certified Public Accountants (AICPA.) Because the scope of services is more focused than a full audit of your financial statements, work is performed only in required areas, saving time and lowering costs.
Agreed-upon procedures may be appropriate in a variety of situations where your company desires independently verified and reported information, such as inspection of documents or transactions for specific characteristics, confirmation of specific information with third parties, or comparison of data to a defined standard. Many situations are appropriate for agreed-upon procedures, whether the objective is to provide specific information to users within your company or to third parties, such as banks, regulatory agencies, investors, or prospective purchasers.
Helping Companies Turn Business Challenges into Business Opportunities
Whether your business goals include expanding, streamlining, or addressing any number of operational issues, Jacob K. Farsakh MBA, CPA & Company can provide creative yet pragmatic consulting advice and expertise. Our professional staff provide proactive strategic recommendations through a broad range of integrated solutions, customized to a company’s unique requirements. Our consultants can contribute value by serving as your company’s trusted business advisors. Some of the many consulting services we can deliver include:
We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. The following is just a few of the areas in which we provide consulting services:
*Accounting software selection and implementation
*Type of entity selection
*Buying/selling a business
Management Advisory Services
Even the most qualified managers can benefit from competent, objective feedback. We can help your company’s management team develop long-term objectives and specific strategies to facilitate your business’ future growth and success.
We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.
Business Entity Selection
Choosing the form of entity of your business (e.g. “S” corporation, sole proprietor, limited liability company…) is a crucial decision that can have longstanding tax implications, positive or negative. We can assist you in evaluating the pros and cons of each entity type to help you determine the most advantageous form of business for your company.
Business Succession Planning
Effective coordination of the transition of your business to your successors is critical to ensure its continued success once you decide to remove yourself from the company’s day to day operations. With a solid background in tax and other financial matters, we are fully qualified to address the complex issues of business continuation and can assist you in developing a strategically sound plan.
Whether you are contemplating the addition of new computer hardware or overhauling your network, our experienced staff can assist you with many of the difficult decisions that must be made when designing your business’ computer systems.
Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques. We have experienced competent staff who can compile information efficiently to assist in the calculation and documentation of any potential economic loss or damages.
Expert Witness Services
Pending or existing litigation can result in the need for a qualified professional to present his/her opinion to support or oppose evidence submitted to the court. Our level of competence allows us the opportunity to function as expert witnesses in such cases.