Our experts are here to handle all your accounting needs.
We provide accurate and professional service from recording transactions and reconciling bank accounts to the compilation, review and audit of financial statements.
We also prepare personal financial statements.
Our goal is to make the financial statements clear and easy to understand.
Prangley Marks, LLP provides audit services to small and medium-sized private businesses. Third parties relying on your financial statements often require an audit for assurance. In order to conduct an audit, we examine your company's financial statements in accordance with auditing standards generally accepted in the United States. An audit requires us to examine on a limted basis internal controls and the testing of material transactions and information underlying the financial statements. We then document our opinion as to whether the statements are fairly presented in conformity with accounting principles generally accepted in the United States.
The business landscape is constantly changing. Not only do you have to understand your current financial position, but you must plan for the future, too. Prangley Marks helps you use everything at your disposal – including your audit – to make your company even better. We assist you in leveraging the value of your audit to improve your efficiencies and improve your operations, and therefore, your profitability.
Our commitment to delivering high-quality assurance services is at the heart of what we do. We provide comprehensive audit and assurance services designed to deliver real value. Please explore the many ways the Prangley Marks professionals can help you.
Prangley Marks provides compilation services to small and medium-sized private businesses. The compilation represent the most basic level of service CPAs provide with respect to financial statements.
In a compilation, the CPA must comply with certain basic requirements of professional standards, such as having a knowledge of the client's industry and applicable accounting principles, having a clear understanding of the services to be provided, and reading the financial statements to determine whether there are any obvious departures from generally accepted accounting principles or, in some cases, another comprehensive basis of accounting used by the entity. It may be necessary for us to perform other accounting services, such as creating your general ledger and making adjusting journal entries, before the financial statements can be prepared.
Upon completion, a report on the financial statements is issued that states a compilation was performed in accordance with AICPA professional standards, but no assurance is expressed that the statements are in conformity with generally accepted accounting principles.
Compiled financial statements are often prepared for privately-held entities that do not need a higher level of assurance expressed by a CPA.
Prangley Marks, LLP provides review services to small and medium-sized private businesses. A review is an application of analytical procedures and inquiry to provide a limited level of assurance.
Upon completion, a report is issued stating that a review has been performed in accordance with AICPA professional standards, that a review is less in scope than an audit, and that the CPA did not become aware of any material modifications that should be made in order for the statements to be in conformity with generally accepted accounting principles or, if applicable, another comprehensive basis of accounting.
Reviews are a significant part of our assurance services and can help you identify adjustments you need to make in your operations to guarantee your company's financial success. They are also an invaluable tool to assure you and your business partners of your company's financial strength.
If your company is applying for a business loan, construction bond, or you need independent verification of your company's financial performance for key business decisions, Prangley Marks can help. Our approach includes developing an understanding of your business and industry to establish a strategy that is tailored to you and the specific needs of your company. Reviewed financial statements are often prepared for entities that have bank loans, outside investors, or trade creditors, but those third-parties do not require audited statements.
Prangley Marks, LLP's business advisory and management consulting staff assists clients in improving their efficiency and profitability by using an objective and skilled evaluation from an outside viewpoint.
The services we provide include assistance in the preparation of forecasts and working capital requirements, econometric modeling, and recommending sources of financing for operations and capital additions.
Effective management of financial affairs requires extensive knowledge, organization, and constant vigilance.
Prangley Marks, LLP provides a complete range of consulting and advisory services to help with the complexities of financial planning. We truly care about our clients and strive to form lasting relationships with them by providing beneficial information, access to a wealth of resources and to a wealth of knowledge, and by proactively serving our individual client's needs.
Our financial planning services include:
Assistance in arranging for investment advice and plans
Financial Planning to Achieve Specific Goals
Business Succession Planning
Valuation Services involve the establishment of the valuation of a business entity and/or its intangible assets for incorporation into the valuation. A variety of purposes for a valuation include acquisition, sale and merger negotiations, business and individual regulatory filings and individual estate planning considerations
Litigation Services involve assisting in disputes between businesses, governments or individuals. The services rendered may include financial analysis, business valuation, damage theory or computations of lost profits. We are frequently asked to compute lost earnings for individuals involved in personal injury or discrimination cases. Some of these cases lead to courtroom testimony.
Our litigation support services include:
- Business valuation reports, both preliminary and comprehensive
- Professional degree valuation reports
- Damage theory and calculation
- Estate and gift tax consulting
- Loss of earnings
- Deposition and expert testimony
- Agree-upon procedure audits
- Preparation of court exhibits
- Settlement negotiations
- Debt and equity securities valuations
- Retirement plan valuation
- Federal, state and local tax consultations
- Merger and acquisition consulting
A complete and diversified tax service is provided for all of our clients, from high net-worth individuals, to multi-tiered corporations and partnerships, which include services relating to the preparation of federal, state, and local tax returns as well as Department of Labor filings.
Our tax personnel are involved with researching tax matters, evaluating tax strategies, and representing clients in tax examinations at the federal, state and local levels.
Prangley Marks, LLP offers electronic filing as requested as well as when required. Tax planning is emphasized – corporate, fiduciary, partnership (LLC and LLP), personal, estate, and trust – and includes such areas as compensation, retirement, estate planning, sales and mergers and acquisitions.
We are dedicated to keeping abreast of current tax laws throughout the year to minimize your tax liabilities and to maximize your future opportunities.