Accounting management and administration duties are essential to running a business. However, these responsibilities often overwhelm entrepreneurs, owner-managed firms and early stage growth companies. Fesnak and Associates can assume those crucial roles for you. You can call on us to organize and support your accounting staff or actually serve as your accounting department. We can do this either at your location or at our office, where we will electronically transmit periodic accounting information to management. The key to this support is the group of professionals we’ve assembled to provide these services. They are financial experts who have been in industry including CFOs or Controllers. They can participate in board meetings, assist in obtaining debt and equity financing, negotiate contracts, and establish internal controls. Support Services for Emerging Growth Companies Entrepreneurs, owner-managed and early-stage growth companies are often busy pursuing additional capital or preparing for a public offering. During these times, they frequently have difficulty with burdensome accounting management and administrative duties that are essential to running a business properly. These challenges can take many different forms, such as: · Having the proper financial expertise to properly run the business · Being bogged down by accounting administration at the expense of product and business development · Facing limited in-house resources · Figuring out complicated tax situations · Finding time to process transactions · Making intelligent decisions based on timely and accurate reporting At Fesnak and Associates, LLP, we look at these challenges as an opportunity to support your business. We’ll give you the time and expertise to help your company move forward and prepare for the additional scrutiny associated with having outside investors. Our services may include: Accounting & Administrative Support · Maintain accounting records and general ledger, including posting of cash receipts, cash disbursements, receivables, payables and payroll · Provide operational and managerial financial data and reports · Review business plan · Assist company in locating venture capital · Develop and implement stock option plans and other types of performance-based incentive plans. · Benchmark financial results to comparable companies · Prepare all affiliated entities, including significant acquisitions and joint ventures for audits in conjunction with a public offering · Review financial statement monthly and annual close process to ensure the company will meet its reporting requirements on a timely basis · Maintain the capitalization table and stock options granted, exercised and terminated · Calculate the value of stock options in accordance with FASB #123 and related interpretations · Perform due diligence procedures on acquisitions · Prepare valuations of a business, technology or goodwill · Evaluate and develop internal controls · Recommend and implement accounting software packages as well as train personnel · Provide merger and acquisition services related to due diligence procedures, valuation of target companies, and tax services for structuring transaction · Set up and document internal controls for the accounting department · Assist in the development of business plans. Tax Support Services · Determine optimal tax structures · Perform corporate tax planning – federal, state and local · Address merger and acquisition issues · Handle tax return compliance for all entity types · Address all payroll tax issues · Prepare 1st year elections · Perform estate and personal income tax planning for the founders Family Office Services A “family office” handles your personal affairs like a business. Fesnak and Associates acts as your personal CFO, providing accounting, finance and tax services. A typical client is a high net-worth entrepreneur, a “serial” entrepreneur, athletes and entertainers. These clients generally require the tracking of costs by asset type and by certain classifications for tax purposes. Our family office services provide resources and support to allow a family to manage the business of their wealth. Fesnak and Associates integrates our unique blend of services (accounting, finance, valuation and tax) to provide families with useful and meaningful financial data in a timely manner. This allows you to track your individual wealth along with the performance of business investments. We use a consultative approach by appointing a dedicated client service team to work closely with each client. Our goal is twofold: (1) handle the bookkeeping, accounting and administration of your financial records to give you more personal, and (2) provide customized financial reports so you can continually monitor your wealth and business affairs. The family office services are customized and can include such tasks as: · Tracking expenditures · Comparing expenditures to a fixed-income budget · Paying bills · Handling vendor bills and other mail · Monitoring personal insurance policies · Reconciling bank accounts · Administering domestic employee payroll and payroll taxes · Providing monthly or quarterly reports Our clients can continually monitor their financial position via access to accurate and timely information. Some benefits of Fesnak and Associates’ Outsourced Accounting Services: · Our low turnover allows us to provide a consistent and long-term business relationship · Our seasoned and credentialed professionals help you avoid HR problems or issues · Our experience assures you an appropriate level of service at the time you need it · Our significant depth and breadth of services frees you from having to work with multiple accounting and business consulting firms · Our outside support converts fixed costs into variable costs, letting you control costs and be flexible until you can hire permanent employees.