CFO/ Controller Services
We will look over the shoulder of your in-house
staff on an as needed basis. The controller overseas the monthly and
quarterly closing process helping ensure high quality financial
statements. We will look over the original entry performed by your
staff. At the end of the month, we can reconcile and update every
balance sheet account, including bank accounts, fixed assets and
accruals. We’ll create work papers to make sure your business is
always audit ready.
Additional services that we can provide:
all significant transactions to ensure compliance with GAAP
and review monthly, quarterly, and/or year-end close process
and accurate financial reports for internal use and analysis
Financial reports to external stakeholders. This may include
bankers, shareholders, or important customers, in some cases
Establish and/or maintain financial policies
Bookkeeper and accountant direction
Accounting systems and controls
Budgeting and planning
flow planning and analysis
Transaction classification, entry and verification
To hire a full-time CFO/ controller
is very expensive (average salary is between $60K - $120K per year). The benefits,
bonuses, and payroll expenses of hiring a full-time controller are
enormous. We can provide those same services for a very competitive
rate. We’re willing to work on an as needed basis in order to provide
your business with the lowest cost and greatest benefit.
Tired of the revolving bookkeeper door?
Can’t find qualified and properly trained bookkeepers?
Does your business lack timely, accurate financial information?
Our team of dedicated professionals can ensure that
your company maintains timely, accurate financial records and
reports. We recognize that not all companies have the same
reporting obligations or analysis needs. Our services are designed
to satisfy the needs of companies that don’t require sophisticated
reporting or GAAP compliant record keeping. We can easily convert
your books from GAAP to cash basis or vice-versa for your reporting
and tax needs.
We offer on-site and off-site services for your
bookkeeping needs. Our flexible scheduling enables us to meet your
needs. Our bookkeeping services include:
Accounts Payable Management
Accounts Receivable Management
Recording and Reconciling Payroll Transactions
Revenue Reconciliation with Bank Statements
Our team has experience in a wide-variety of industries. Leave
the bookkeeping to us so that you can focus on growing your business.
We prepare all of the following the returns:
1120 C – Corp Returns
1120 S – Corp Returns
1065 Partnership Returns
1040 Individual Returns
1041 Trust Return
Gift & Estate Tax Returns
990 Non-Profit Returns
You can take comfort in knowing that your returns
are prepared by a CPA and reviewed by another CPA.
Tax planning is the key to avoiding surprises on
tax day. We meet with most clients twice a year to review
potential tax liability. This is also a necessary requirement
for proper estate planning.
The tax codes become more complicated every year.
Let the professionals at McGinn & Co. deal with these complexities
so that you can focus on growing your business.
Starting a new business or trying to improve
an existing business?
Let a CPA handle the design, set-up, and
implementation of QuickBooks for you. Often time’s new businesses
will do this themselves to save money. But, when its done wrong any
cost savings that they realized will be eliminated by the cost of
fixing the incorrect implementation.
McGinn & Co.will perform this service for a
fixed flat-fee. We will design the system around your business which
will enable you to benchmark your business performance to industry
Does your balance sheet balance?
Is QuickBooks not working out as you had planned?
We can help you solve these problems in a cost-effective manner. An
effective accounting information system will provide your business
with the information that you had hoped for and more. We can
successfully reconfigure your accounting system set-up to provide you
with the information you need. Let us troubleshoot the problem so that
you can stay focused on running your business.
Why pay a payroll company to generate 1099’s
when you can do that internally?
Accounting systems provide this functionality
but, most companies don’t take advantage of it. We can make sure that
your accounting system can generate accurate and timely 1099’s in
order to lower your costs.
Our goal is to provide your business with these value-added services.
Most businesses never reach their full
potential for many different reasons. McGinn & Co. can help you
in the following areas:
Bank Financing – We have all seen the headlines
on the news about how difficult bank lending has become. The
professionals at McGinn & Co. are here to help you get the financing
you need in order to grow your business and take it to the next-level.
Budget Plan - Every business should prepare a
budget but, in fact most small to medium sized businesses don’t have
one at all. Comparing budget/actual results will provide management
with the areas that require immediate attention.
Business Plan – A critical part of an
organizations success is having a well written business plan. These
plans serve two main purposes: often times they are a requirement of
obtaining bank financing and they help an organization stay focused.
Business Purchase or Sale – Purchasing or selling
a business is a very difficult decision. We strongly advise you to
enlist our help so that you can make a well- informed decision. There
are a multitude of factors that play into these decisions and we’d
like to help you sort through them all.
Cash Flow Projections – Have you ever heard the
old saying, “Cash is king.”? Most businesses either don’t know how to
prepare a cash flow projection or just don’t have the time. A cash
flow projection can provide management with the information necessary
in order to stay-in-business.
Financial Statement Prepration
statements are often times required by a lending institution or a
government agency. We can prepare the following financial statements
Preparing financial statements of private entities based on
information provided by the entity’s management.
Through compilation services, a CPA prepares monthly, quarterly, or
annual financial statements. However, he or she offers no assurance
as to whether material, or significant, changes are necessary for
the statements to be in conformity with generally accepted
accounting principles, the cash basis, or the income tax basis of
accounting. During a compilation, the data is simply arranged into
conventional financial statement form. No probing is conducted
beneath the surface unless the CPA becomes aware that the data
provided is in error or is incomplete.
However, before agreeing to perform a compilation, a CPA will take a
"common sense" look at the entity to decide whether the client needs
other accounting services, such as help in adjusting the accounting
A compilation is sufficient for many private companies. However, if
a business needs to provide some degree of assurance that its
financial statements are reliable, it may be necessary to engage a
CPA to perform a review or an audit.
Inquiry and analytical procedures applied to financial statements of
A private entity may engage a CPA to perform a review of its
financial statements and issue a report that provides limited
assurance that material changes to the financial statements are not
necessary. With respect to reliability and assurance, a review falls
between a compilation, which provides no assurance, and the more
extensive assurance of an audit.
Before a review, the CPA may have to compile the financial
statements; however, in all cases, the financial statements are
management’s statements, not the CPA’s. Management must have a
sufficient understanding of the financial statements to assume
responsibility for them.
Two other factors differentiate a review from a compilation — the
CPA must remain independent of the client during a review, and all
appropriate footnotes must be included in the reviewed statements.