Manufacturing and DistributionIndustries
Trust Smith & Smith CPAs to understand the needs of this ever changing industry. We’ve successfully guided our clients in manufacturing and distribution technological investments, labor shifts, regulatory audits and globalization over many years. We will help you prepare for what’s next in the store for you.
The American economy was founded on closely held manufacturers and distributors. The professionals at Smith & Smith CPAs understand this and will help you develop long-term strategies for boosting efficiencies, reducing costs, improving performance and enhancing profit margins. We ensure that you’re set up to utilize benefits of tax incentives, and prepared for merger, acquisition and expansion opportunities that will come alone the way.
We are committed to help you prosper, grow and bring the broad-based support to meet your goals.
Services for Manufacturing and Distribution include:
Tax Planning and Compliance01.
- Expatriate Tax Planning
- State and Local
- State Tax Analysis and Resolution
- Federal and State Tax Credits
- Succession Planning
Audit and Advisory02.
- Audits, Reviews and Compilations of Financial Statements
- Royalty Audit Verification
- Employee Benefit Plan Audits
- Financial Forecasts and Projections
- Budgeting and Cash Flow Forecasting
- General Ledger Facilitation
- Accounting System Sourcing and Set-up
- Accounts Payable/Receivable and Bill Pay
- Payroll Preparation and Tax Reporting
- Financial Statement Analysis and Preparation
- Sales and Use Tax-Related Consulting
- Revenue Management
- Accounting Management and Financial Analysis
- Disbursement Management
- CFO Services
- Cloud Accounting
We also offer advisory services, including:
- Agreed Upon Procedures
- Bank Financing Assistance
- Fraud and Forensic Accounting
- Business Litigation Support
- Mergers and Acquisition
- Research & Experimentation (R&E) Tax Credits
- Production and Inventory Control Management
- Business Continuity Planning
- Operational and Financial Controls Analysis and Assessment
- Business Continuation, Succession Planning and Exit Strategies
- Cost Segregation Studies
- Like-Kind Exchanges
Manufacturing and Distribution Success Stories
Structured equipment purchase for tax credits
Our work with a local manufacturer told us they were in a distressed area. When they wanted to make a $1 million equipment purchase, we helped them maximize their state tax credit, worth about $75,000. Three years later, they turned to us for assistance with a similar purchase.
Strengthened internal controls to reduce warehouse space
We were engaged to help a distributor study the way it tracks, values and records inventory. We uncovered numerous ways to improve internal controls, building internal confidence in the company’s inventory cost and cycle count processes. Through a review of the purchasing process, we helped the company identify excess and obsolete inventory, in turn reducing its need for warehouse space and leading to significant savings.
Improved Management Processes at Manufacturer
At the conclusion of our initial audit, we submitted recommendations for improvement to management. Over the following three years, we worked with them to implement the suggestions that provided their organization with the most benefit. Management now has a greater sense of comfort over its inventory process and believes its internal controls are operating more efficiently and effectively.
Contact us to speak to a specialist today.
Manufacturing and Distribution Blog Posts
November 14, 2018
October 30, 2018
October 23, 2018
September 28, 2018