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Thomason Financial Resources gives our clients the cost-effective flexibility to utilize professional financial talent to meet your business financial needs. From general accounting/bookkeeping issues to a comprehensive internal controls review for your external auditors, Thomason Financial Resources is your solution for today's financial needs.
We specialize in five key services. Depending on what services you are needing or would like to have provided, we can design a package that is right for you including any one or a combination of the services below to fit your financial/operational needs.
General Accounting/Monthly Financial Statements Preparation: Each month we will prepare a set of monthly financial statements based on your monthly transactions as well as a year-to-date accumulation of income and expense. We will accumulate individual transactions, make journal entries and post to general ledger via either your general ledger applications or our package of choice, depending on your business needs. Our deliverables to you under this service will be monthly journal entries, account balances and a set of financial statements. In addition, we will prepare your annual year-end financials.
Internal Controls Review: Internal control is a process designed to provide reasonable assurance regarding the achievement of objectives in the following areas: (a) reliability of financial reporting, (b) effectiveness and efficiency of operations, and (c) compliance with applicable laws and regulations. We will review your entity's internal control environment - observe, document and chart your operational and financial processes. We will identify any operational or financial control weaknesses, recommend resolutions and assist in implementing the resolutions
Annual Tax Compliance: Not-for-profit organizations, other than private foundations, must file an annual information return, Form 990, Return of Organization Exempt From Income Tax, or Form 990-EZ, Short Form Return of Organization Exempt From Income Tax. These IRS forms must be filed by the 15th day of the 5th month after your organization's fiscal year end. We will prepare your form accurately and timely with the IRS.
Internal Audit: With zero tolerance for accounting surprises today, third parties are reviewing financial statements with greater detail and ensuring internal controls are reliable, effective and in compliance with laws and regulations. Thomason Financial Resources can perform an internal audit of your complete set of financial statements and/or prepare your work papers, reconciliation of certain accounts, and other necessary schedules of financial data as needed by your third parties.
Project CFO/Controller: For complex issues such as an acquisition, merger or preparing a 5 year forecast, we will provide the resources with the required competencies to assist you in these areas.
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