Whether you’re an individual, startup, small business, or a large corporation, our CPAs and staff are here to serve you and provide exceptional accounting services for you and your company.
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What Is Occupational Fraud & How To Prevent It?
- December 20, 2021
- Posted by: Smith & Smith
- Category: Occupational Fraud
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Occupational fraud is typically the fraud committed by employees of a firm & this type of fraud has three categories: asset misappropriation, corruption, and financial fraud. About 5% of U.S. firms lose their revenues due to these frauds. Categories Of Fraud Occupational fraud and abuse- classified into three primary classes: Asset Misappropriations: It happens when
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Difference Between Internal & External Audits
- November 30, 2021
- Posted by: Smith & Smith
- Category: Internal & external audits
An audit is described as an accurate evaluation and analysis of the financial statements of an organization to confirm that the records represent a proper and correct view of the transactions they claim. An audit is conducted internally by the employees of the firm or externally by a third party. An audit implies a process
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What Are The Main Causes Of Business Bankruptcy?
- November 13, 2021
- Posted by: Smith & Smith
- Category: Business bankruptcy
Businesses differ hugely in terms of the kinds of products and services they offer, but all organizations need to make sales and bring in revenue to survive & thrive in the market. When businesses are not profitable for a vast period, owners may be compelled to go into bankruptcy to leave the market or re-establish
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Gather All Details About Retirement Planning
- October 29, 2021
- Posted by: Smith & Smith
- Category: Retirement planning
Financial planning should include retirement planning. The necessity for retirement planning grows as average life expectancy rises. Retirement planning not only provides an additional source of income, but also helps in coping with medical emergencies, achieving life goals, and becoming financially independent. At Smith and Smith CPAs, we help people plan for their retirement. It
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How to Manage Business Finances Effectively?
- October 15, 2021
- Posted by: Smith & Smith
- Category: Business finance
Are you looking forward to a financial rise? However, people who are well-prepped will only reap the benefits. Hence, if you want to bloom your business for the rest of your life, you gotta build strategies so that you can get your finances in order. In this blog, we will discuss all you need to
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Why Estate Planning Is Very Important?
- September 24, 2021
- Posted by: Smith & Smith
- Category: Estate planning
Estate planning isn’t just for the rich. Even if you don’t have an expensive property, or precious art to pass on, settling your affairs after you die could have a long-lasting impact on your loved ones if you don’t have a plan in place. Are you still not sure that an estate plan is necessary?
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What is the purpose of financial projections?
- September 15, 2021
- Posted by: Smith & Smith
- Category: Financial projection
Each year, planning and working on your company’s financial projections could be one of the most significant things you do for your organization. The outcomes, or formal projections, are frequently less essential than the process itself. Strategic planning, if nothing else, helps you to “come up for air” from the day-to-day difficulties of running a
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How an IRS Representative can be beneficial for you?
- August 25, 2021
- Posted by: Smith & Smith
- Category: IRS Audit, IRS Representation
Keeping track of all your taxable assets can be tough, and it is normal to make mistakes. If you are being audited by the IRS, you should not be discouraged. What you require is qualified, experienced IRS representation to advise you on the best course of action. IRS Description Every taxpayer has the right to
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Why is bookkeeping essential for all businesses?
- August 18, 2021
- Posted by: Smith & Smith
- Category: Bookkeeping Service
Bookkeeping is the regular recording of financial transactions and information pertaining to a company’s activity. It is the methodical recording of a company’s financial transactions. It guarantees that financial transaction records are up to date, correct, and complete. Individuals or entities who keep a company’s books of account are known as bookkeepers. They are in
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What are the advantages of hiring an outsourced CFO?
- July 29, 2021
- Posted by: Smith & Smith
- Category: CFO
Many businesses avoid hiring a CFO because they don’t understand they need one, and some business owners believe CFOs are only for large corporations. However, companies can expand more quickly if they have someone who understands their financial objectives and can assist them to develop a strategy to attain them. A CFO can help firms