Accounting and Auditing

Services

Accounting and Auditing

bgr provides comprehensive financial services to private businesses and nonprofit organizations across the Mid-Atlantic region.

The experienced CPAs at Berman Goldman & Ribakow LLP understand the importance of providing accurate and comprehensive accounting and audit services to the private businesses we serve. Our accounting and audit specialists work diligently to understand the operations, mission and goals of each business we work with prior to conducting any professional services. In doing so, we are able to provide advice that will best assist our clients in formulating informed business decisions, meeting key benchmarks and growing their businesses.

Our accounting and audit services begin with the preparation of detailed, yet easily comprehendible financial statements. While it is generally understood that quality financial statements are critical to the success of investment deals, mergers & acquisitions and employee stock option plans, our accounting and audit experts know that these statements are also vital to making intelligent operating decisions each day.

Over the course of bgr CPAs’ 78 years of accounting and audit experience, we have learned that building a solid foundation of accurate and reliable financial statements allows us to advise clients on key areas in order to improve procedures and operating results. In addition to preparing financial statements such as balance sheets, income statements and statements of cash flows, our experienced professionals provide supplemental goal attainment plans customized to the specific goals of each business we work with.

When selecting Berman Goldman & Ribakow LLP for your business’s accounting and audit needs, you can be assured that the areas not covered by pronouncements of the American Institute of Certified Public Accountants (AICPA), Generally Accepted Accounting Principles (GAAP), or governmental agencies are supplemented with the firm's own internal policy statements, and by decades of experience.

What We Offer

Audited Financial Statements

The professionals at bgr CPAs routinely perform audits of financial statements for clients of all sizes, within various industries. We will examine your financial statements and provide assurance that they are presented fairly in accordance with Generally Accepted Accounting Principles (GAAP). An audit can be a valuable tool in obtaining financing, analyzing bank covenants and informing shareholders.

Employee Benefit Plans

Did you know that more than 30% of employee benefits audits fail? That’s because most accounting firms do only a few of them per year. We do a few every month. So we know the pitfalls like the backs of our hands.

Typically, you trigger the audit rules when you have 100 or more eligible participants on the first day of the plan year. They must be completed within seven months of the end of the plan year. Penalties can easily reach $1,000 per day!

An auditor will take note of procedures, practices, and other matters that raise potential problems or could be improved. Components of the audit include:

  • Plan and operational compliance,
  • Fiduciary responsibility,
  • Internal controls,
  • Financial reporting, and
  • Best practices.

bgr CPAs can be with you through audit preparation, performance, and remedial measures to bring your 401(k) plan into compliance.

Accounting Services

Berman Goldman & Ribakow LLP employs a team of accounting experts who can structure and optimize bookkeeping methods in a way that is efficient for small business owners, and effective for the business’s financial records.

These services can be customized to fit the needs of each business, as we have the ability to educate managers on the best methods of bookkeeping; train external professionals on a business’s bookkeeping methods; or employ one of our experts to perform routine bookkeeping for our clients.

Forecasts and Projections

Success in business requires a durable business plan, and the foundation of every strong business plan consists of well-conceived forecasts and projections. These items are essential to planning and formulating business operations in adherence with your goals.

At bgr CPAs, we can assist businesses in conducting thorough research in order to assess future market conditions and trends. Having forecasts and projections that are supported by substantial data can allow businesses to capitalize on emerging variables and to think one step ahead of their competitors.

Bookkeeping

Owning and managing a small business requires extensive work and long hours. Our CPAs recognize that this can limit a small business owner’s ability to properly maintain an accurate bookkeeping system. Berman Goldman & Ribakow LLP employs a team of small business accounting experts who can structure and optimize bookkeeping methods in a way that is efficient for small business owners, and effective for the business’s financial records.

These services can be customized to fit the needs of each business, as we have the ability to educate managers on the best methods of bookkeeping; train external professionals on a business’s bookkeeping methods; or employ one of our experts to perform routine bookkeeping for our clients.

Unaudited Financial Statements

The accounting and audit professionals at bgr CPAs work to enhance the reliability of a company’s financial statements by providing two distinct services for unaudited financial statements—compilations and reviews.

First during the process of compilation, our objective is to understand the existing principles of a business and the financial reporting system employed. Our CPAs will then evaluate, compile and consolidate a business’s existing financial statements in order to assist management in presenting financial information in an accurate and accepted format.

During a review, bgr CPAs will conduct the same processes within a compilation engagement, but will also provide limited assurance on the financial statements and reporting system of the business. This additional step allows our accounting and audit experts the ability to evaluate a business’s financial and analytical procedures in order to suggest modifications that can benefit the business financially.

Contact the professionals at bgr CPAs for a consultation regarding your accounting & audit needs.