Temple Hills, Maryland
Additional CPA Services
Business advisory, nonprofit organization accounting, government contracting compliance, and financial management services throughout Temple Hills, Maryland and Washington, DC.
Assist Clients in Developing Accounting Policies and Procedures
Completeness, accuracy, consistency, and verifiability are necessary attributes for financial data to be considered a reliable basis for management decisions. To this end, the firm assists clients in developing internal control systems and cost-effective accounting policies and procedures designed to safeguard the integrity of their financial reporting systems.
Preparation of Indirect Cost Allocation Plans for Nonprofit Organizations
We provide preparation of indirect cost allocation plans, identification of opportunities for maximizing cost recoverability, and development of strategies for negotiating the highest possible rate with government cost negotiators.
Assist Clients in Obtaining Financing
We provide forecasting of financial requirements, which remains an important part of the financial management of any company’s operations. When an organization seeks outside financing arrangements with a financial institution, the submission of financial, accounting, and operational data helps determine the overall creditworthiness and debt capacity of the organization.
In providing management advisory services, the firm assists in determining financing needs, evaluating financing alternatives, preparing loan proposals, and assisting with negotiations with financial institutions.
Installation of Accounting Systems and Conversion of Accounting Systems
We install accounting systems and provide staff training for accounting software selected by the client. We also assist clients in converting existing accounting systems to computerized accounting systems.
This process involves defining the client’s operational needs, developing implementation plans, preparing existing accounting records for conversion, and assisting in maintaining the integrity of financial data generated by the new financial reporting system.
Operational Audits and Internal Control Reviews
The firm’s management advisory services in this practice area involve systematic reviews of an organization’s operations, or segments of operations, in relation to specified objectives.
In today’s environment of changing financial demands and operational challenges, efficiency remains important for businesses and nonprofit organizations alike. Audit objectives such as cost reduction and revenue enhancement can help strengthen the competitive position of an organization.
Cash Management
Cash management is an important element of the overall financial management of a company. Effective cash management can help improve cash flow, reduce the cost of capital, and improve asset utilization.
The firm’s cash management expertise includes assistance with banking relationships, bank selection, analysis of compensation balance arrangements, suggestions for improvements in billing and cash receipt procedures, and establishment and management of zero balance accounts.
Government Contracting Compliance
Doing business with the Federal Government differs significantly from operating in the commercial marketplace. Success in this area requires understanding procurement processes, government financial reporting requirements, and compliance procedures.
The firm has several years of experience assisting government contractors with cost proposals, Defense Contract Audit Agency (DCAA) submissions, approved cost accounting systems, DCAA audits, contract close-outs, and strategies designed to improve profit margins and cost recoverability.
Compliance with O.M.B. Circular A-133 Requirements – We provide guidance and technical assistance to nonprofit organizations receiving federal financial assistance, either directly or indirectly, that may be required to complete audits in accordance with Government Auditing Standards and O.M.B. Circular A-133 requirements.