R.L. DePanfilis & Company, LLC
CERTIFIED PUBLIC ACCOUNTANTS AND BUSINESS CONSULTANTS

 
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Business Services

 

 

Business Services

We provide highly personalized support to meet your immediate needs and achieve your long-range goals. We take a partnering role with our clients and share a vested interest in their success. Together, we create systems that allow you to control every aspect of your business. Our years of experience help you make the right decisions and look great on the bottom line. 

We assist our clients by providing a full range of services to business owners including:

  • Evaluating and Starting a New Business
  • Assist in Identification and selection of qualified financial personnel
  • Improve internal financial reporting and controls
  • Business succession planning
  • Forecasts, projections, and long-range planning
  • Litigation Support
  • Assistance with computerized accounting Implementation
  • Due diligence services for acquisitions
  • Consulting services for sale of business

 

Tax Preparation and Planning

We understand the tax consequences of business formations and planning strategies. As a result we are able to consult with our clients to utilize suitable and tax-preferential forms of business.   Our firm serves a wide range of corporations, partnerships, trusts, estates, and tax-exempt organizations and is an expert in the tax laws that impact our clients.

Your return will be checked and rechecked by our advanced computer software identifying potential problems the IRS may look at more closely to limit IRS contacts. Your tax return can be electronically filed.

We maintain ongoing communication with our clients throughout the year to keep them advised of new developments in the tax laws to identify planning opportunities and their potential impact. This personal approach enables us to recommend ways to reduce taxes, make strategic planning suggestions, avoid penalties, meet filing deadlines, improve financial reporting, and plan for the future.

Accounting, Auditing, Review and Compilation Services

To give you more value, our professionals serve not just as auditors, but business advisors. We develop a thorough understanding of your business to identify issues and opportunities in addition to issuing reports on financial statements.

Users of financial statements do not always need the same level of assurance, so we offer three distinct services: Audit, Review, and Compilations. Each of these services is designed to give you the appropriate level of assurance based on your needs. We also provide attestation services for items outside the scope of the financial statements.

Audit Services

An audit is the highest level of financial statement assurance. Third parties such as bankers, credit grantors, and bonding companies often require an audit. An audit includes examining evidence on a test basis supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. The role of the independent accountant in an audit is to express an opinion on fair presentation of financial statements.

Review Services

In many instances, a review is sufficient for a company and its creditors. A review consists mainly of inquiries of client personnel and analytical procedures applied to financial data — it is substantially less in scope than an audit. A review provides limited assurance on financial statements.

Compilation Services

As with review services, compilation services are performed in accordance with standards established by the American Institute of Certified Public Accountants (AICPA). A compilation is the lowest level of financial statement assurance and is limited to presenting information in the form of financial statements that is the representation of management. A compilation results in no expression of an opinion or any other form of assurance by the accountant.

Attestation Services

In certain cases, a client may need an independent accountant to express assurance on something other than financial statements. For example, a potential buyer may want a report on the value of a business, or a regulatory agency may want proof that an organization is in compliance with certain rules and regulations. The role of the independent accountant in an attestation engagement is to express a conclusion about the reliability of an assertion that is the responsibility of another party. The procedures to be performed are agreed upon by the independent accountant, the party providing the written assertion, and the intended user of the report.