Accounting Services

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Accounting

We provide accounting services-bank reconciliations, preparing financial statements, identifying weakness in internal controls, recommending next practices, segregation of duties is robust, preparation of reports to business owners which are meaningful to make informed decision making.
Preparation of workpapers such as general ledger account analysis, schedules, workpapers for external auditors and CPA firm preparing corporate tax returns.
Virtual CFO services, your outsourced accounting department. We provide support to your accounting department with A/P, A/R, financial report preparation, identifying weaknesses in internal controls, lack of segregation of duties and providing solutions before a problem arises in the horizon.
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Fraud Investigation

Forensic investigation including recreating accounting records, business owners disputes and court testimony. Identifying weakness from the initial transactions the revenue and expense cycle to misrepresentation on the financial statements. Examples are Fraud, Corruption and Embezzlement.

 


 













 

Success Stories

Accounting & Audit


 
During an audit engagement discovered that the fundraising company withheld from the not for profit organization funds raised which was due to them. NJ Attorney General filed and received judgement against the owners and forfeited personal property, paintings and boats.
When at Big Four audit engagement S-1 Filing with the SEC for the eighth largest credit card processing company. An SEC S-1 filing is a document that a company submits to the Securities and Exchange Commission (SEC) to register securities for public sale.
CFO of a not for profit organization embezzled funds, investigated, prepared report and presented to the Board.
Internal Controls

Sarbanes Oxley, internal controls testing of companies such as Revlon, ADP, NY Times, National Starch, Tyco, Volt Information, TBS Shipping and Ricoh. Walkthroughs, improve the efficiency and effectiveness of the Internal Controls for robust reporting of Financial Statement numbers from cradle to the grave following the internal process steps-initiate, process, record, authorize and report. Prepare detailed findings for review with appropriate management personnel. Identify Key controls. Reduce redundant Key Controls, Walkthroughs, Prepare Baseline Key Controls between Parent and Sub. Prepare detailed workpaper binders  for each of the business cycles such as sales, payroll, purchasing and fixed assets both for External Auditors and Management. Report Findings and prepare Recommendations to implement Best Practices per Industry’s standards. Overall incharge (3 reports) of both BP (business process) and IT side on the NY Times engagement.
 
 
Taxes
Taxpayer prepared self-prepared tax returns. Discovered he was not in compliance with foreign reporting of his worldwide income. Registered him into the OVDP (Offshore Voluntary Disclosure Program). Amended several years of tax returns including filing of FBAR (Foreign Bank Account Reporting).

New client’s CPA did not file taxes for several years for a Trust. Filed back tax returns and was able to represent before the IRS and penalties were waived.

Taxpayer owed the IRS. Prepared the required tax forms and successfully settled for less the tax outstanding liability received the Offer In Compromise.

Filed for various not for profit organizations application and received approval from the IRS for 501 (c ) (3).
 
 
Fraud Investigation
CEO of a Singapore based company embezzled over 2 million. Discovered the fraud, redid the books and prepared workpapers and presented findings report to the majority shareholder during my 3 weeks stay in Singapore.

Regional Manager forged customers signatures on the sales order to inflate his sales commission. Investigated, prepared report, and presented it to the Board.

Fiduciary of a Trust fund discovered funds were embezzled. Prepared 3 years of accounting, prepared report for the client to present it to the Court.
 
 
Compliance
PPP loan applied for company and obtained 1.8 million to fund the company’s payroll.

Prepared workpapers with supporting documentation for 8 banks for 15 companies and obtained forgiveness of loans from the SBA.

Filed with the IRS for 3 companies and received 1.5 million for ERC (Employee Retention Credit).
 
 
Community and Professional Services
Served for 7 terms on Audit Review Committee for Christian Missionary Alliance a 1 billion dollar Church organization with over 2,000 Churches, 4 colleges, 2 retirement centers, Health and Welfare, Foundation et al. Annual onsite meetings as well as monthly virtually.

Served 4 years on the Finance Committee member for Franklin Township Food Bank, Somerset, NJ.

Co-lead two mission teams for Princeton Alliance Church, Plainsboro, NJ to Bangkok, Dominican Republic, Ecuador and Peru.

Volunteered for NJCPA for Tax Hotline to field calls from NJ residents for tax help on TV News 12 for 7 years, interviewed live several times. Represented NJCPA for its Pay it forward program, visiting High Schools to encourage students to choose accounting in college when enrollment in accounting students are declining.

NJ ACFE Chapter 9 former Board member.

Pro Bono services: New immigrant was duped when he received 1099 Misc instead of W-2  from his employer even though taxes were withheld. Was misclassified as an outside contractor instead of as an employee. Filed Offer In Compromise (OIC) and over a two year period negotiated and then IRS settled for $100. Iraq Veteran did not file taxes for two years for his business. Provided pro bono services by preparing accounting, filing tax returns and represented before the IRS. 

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