As a small-business owner or manager, you have many responsibilities to ensure that your business is profitable and successful. But you don’t have to do it alone. That’s where a Certified Public Accountant (CPA) can be an essential partner: A CPA can help you establish effective business operations and plan for profitability. In addition, a CPA can assist you in setting short- and long-term strategies tailored to your business. CPAs provide services to individuals, corporations, nonprofits and government entities. They can work in virtually any area of finance.
When hiring a CPA, it is best to conduct your search based on the services you are seeking. Some CPAs are generalists and offer a range of services. However, many CPAs specialize in just one area and do not provide all the services listed below. Check out the CPA Services in Silver Lake to search for CPAs by service and specialty.
Financial Planning
A CPA can help you maximize your income and plan for a secure future. From saving for your child's college education to helping you plan for retirement, here are just some of the ways we can help you:
Financial Statements
Virtually all entities -- whether they are privately held, publicly owned, governmental or not-for-profit -- must prepare reports. These reports, called financial statements, depict the entities' financial performance and position. Financial statements help owners and management make operating decisions, creditors evaluate loan applications, and investors make investment decisions.
CPAs perform a valuable service by acting as an independent third party in the financial reporting process. To meet each organization's specific need, a CPA offers three distinct services: an audit, review and compilation.
Audit
An audit provides the highest level of assurance that an entity's financial statements are presented fairly in accordance with established standards. CPAs must plan and perform their audits to obtain reasonable assurance that the statements are free of material misstatement. To do this, they must consider:
Audits are required for all publicly-held companies and all organizations receiving government funding in excess of certain thresholds. Many other organizations have an audit at the mandate of an outside third party, such as a creditor or state agency, or at the request of internal management or an oversight board.
Review
In a review engagement, a CPA provides limited assurance that they are not aware of any material modifications that would be necessary in order for financial statements to be in conformity with established standards. The procedures performed by the CPA are much less extensive than in an audit, and consist primarily of analytical procedures and inquiries.
Compilation
In a compilation engagement, a CPA assembles financial statements from information provided by management, but provides no assurance on them. Compilations are most often performed for small, non-public companies with limited in-house accounting capabilities.
Management Advisory Services
Even the most qualified managers can benefit from competent, objective feedback. We can help your company’s management team develop long-term objectives and specific strategies to facilitate your business’ future growth and success.
Pension & Profit Sharing Plans
Qualified retirement plans (e.g. defined-contribution or defined benefit plans, Keoghs, SEPs…) can provide significant tax advantages for closely held businesses and self-employed individuals. Our qualified staff can assist you in evaluating the type of pension plan that will best serve the retirement needs of you and your employees.
Buying & Selling a Business
Structuring the purchase or sale of a business properly is a critical step in the process of buying or selling a business. Our competent staff has experience to guide you through the acquisition/disposition process by addressing such issues as cash flow analysis and tax considerations.
Fraud Prevention & Detection
We use accounting and auditing skills to provide an analysis of financial records in conjunction with fraud and theft investigation. Our damage measurement methods can determine the extent of financial loss and illegal accounting practices.
Investment Review
As you develop your investment strategy, we will act as your sounding board. We can help you and your investment advisor build an investment portfolio that takes into consideration the impact of taxes and produces a favorable after-tax return.
Estate & Trust Tax Preparation
Effective estate and gift planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential.
We can guide you through the complex process of getting your financial affairs in order.
Velin & Associates, Inc provides many more services such as: Forensic Accounting, Financial Forecasts & Projections, Tax Planning & Preparation, Consulting Services, IRS Representation, Payroll Services, Sales Tax Services etc.
Our firm provides outstanding service to our clients because of our dedication to the three underlying principles of professionalism, responsiveness and quality. At Velin & Associates, Inc we recognize that accurate, well-organized financial information is critical to your corporate or personal financial health. Our detail-oriented and insightful staff is committed to providing the comprehensive reports, analysis, and services you need to manage your finances and assess your financial position. We offer a broad spectrum of meaningful and cost-effective accounting and auditing services, from bookkeeping services to financial statement preparation to financial analysis to help you to manage your finances efficiently and accurately.
Also discover CPA Services in Whittier, CPA Services in Orange County, CPA Services in Inglewood.
Contact Details
7315 Sunset Blvd., Suite D
West Hollywood, California
90046, USA
Phone: (323) 902-1000
Fax: (323) 403-0404
Direct: (323) 528-1512
When hiring a CPA, it is best to conduct your search based on the services you are seeking. Some CPAs are generalists and offer a range of services. However, many CPAs specialize in just one area and do not provide all the services listed below. Check out the CPA Services in Silver Lake to search for CPAs by service and specialty.
Financial Planning
A CPA can help you maximize your income and plan for a secure future. From saving for your child's college education to helping you plan for retirement, here are just some of the ways we can help you:
- Develop a personal budget
- Offer recommendations on ways to save for college
- Plan for retirement
- Choose investment opportunities
- Assist with estate planning
- Create a succession plan for your business
Virtually all entities -- whether they are privately held, publicly owned, governmental or not-for-profit -- must prepare reports. These reports, called financial statements, depict the entities' financial performance and position. Financial statements help owners and management make operating decisions, creditors evaluate loan applications, and investors make investment decisions.
Audit
An audit provides the highest level of assurance that an entity's financial statements are presented fairly in accordance with established standards. CPAs must plan and perform their audits to obtain reasonable assurance that the statements are free of material misstatement. To do this, they must consider:
- Consider the entity's internal controls
- Examine, on a test basis, evidence supporting the amounts and disclosures in the financial statements
- Assess the accounting principles used and significant estimates made by management
Review
In a review engagement, a CPA provides limited assurance that they are not aware of any material modifications that would be necessary in order for financial statements to be in conformity with established standards. The procedures performed by the CPA are much less extensive than in an audit, and consist primarily of analytical procedures and inquiries.
Compilation
In a compilation engagement, a CPA assembles financial statements from information provided by management, but provides no assurance on them. Compilations are most often performed for small, non-public companies with limited in-house accounting capabilities.
Management Advisory Services
Even the most qualified managers can benefit from competent, objective feedback. We can help your company’s management team develop long-term objectives and specific strategies to facilitate your business’ future growth and success.
Pension & Profit Sharing Plans
Qualified retirement plans (e.g. defined-contribution or defined benefit plans, Keoghs, SEPs…) can provide significant tax advantages for closely held businesses and self-employed individuals. Our qualified staff can assist you in evaluating the type of pension plan that will best serve the retirement needs of you and your employees.
Buying & Selling a Business
Structuring the purchase or sale of a business properly is a critical step in the process of buying or selling a business. Our competent staff has experience to guide you through the acquisition/disposition process by addressing such issues as cash flow analysis and tax considerations.
Fraud Prevention & Detection
We use accounting and auditing skills to provide an analysis of financial records in conjunction with fraud and theft investigation. Our damage measurement methods can determine the extent of financial loss and illegal accounting practices.
Investment Review
As you develop your investment strategy, we will act as your sounding board. We can help you and your investment advisor build an investment portfolio that takes into consideration the impact of taxes and produces a favorable after-tax return.
Estate & Trust Tax Preparation
Effective estate and gift planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential.
We can guide you through the complex process of getting your financial affairs in order.
Velin & Associates, Inc provides many more services such as: Forensic Accounting, Financial Forecasts & Projections, Tax Planning & Preparation, Consulting Services, IRS Representation, Payroll Services, Sales Tax Services etc.
Our firm provides outstanding service to our clients because of our dedication to the three underlying principles of professionalism, responsiveness and quality. At Velin & Associates, Inc we recognize that accurate, well-organized financial information is critical to your corporate or personal financial health. Our detail-oriented and insightful staff is committed to providing the comprehensive reports, analysis, and services you need to manage your finances and assess your financial position. We offer a broad spectrum of meaningful and cost-effective accounting and auditing services, from bookkeeping services to financial statement preparation to financial analysis to help you to manage your finances efficiently and accurately.
Also discover CPA Services in Whittier, CPA Services in Orange County, CPA Services in Inglewood.
Contact Details
7315 Sunset Blvd., Suite D
West Hollywood, California
90046, USA
Phone: (323) 902-1000
Fax: (323) 403-0404
Direct: (323) 528-1512
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